You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value. Phone / Prefer cell: 520-975-5207
Office: 480-948-5554 or email me walterunger@ccim.net. – What is a CCIM.
In Business and in Life you don’t get what you deserve, you get what you Negotiate.
contact me if you want me to get you the value of your property.
CLICK HERE TO VIEW ALL MY LISTINGS.
Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net
Renata Cló Arizona Republic 4/26/2023
When the construction of Phase I of Paloma Community Park in northern Peoria was completed in late 2020, the expectation was that Phase II would bring even more amenities to the city’s biggest park.
But fast forward to 2022 and the City Council decided to hit pause on Phase II after seeing the cost of the project go from an estimated $25 million in 2021 to $35 million a few months later. The reason behind the cost increase, according to Peoria Chief Financial Officer Kevin Burke, was inflation and supply chain issues.
“The direction for Paloma Park was to pause it since, No. 1, this wasn’t the highest priority and No. 2, maybe the prices will come back to reality,” Burke said.
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Inflation impacting capital projects hasn’t been a challenge unique to Peoria in recent years. Many other cities in metro Phoenix, from Avondale to Scottsdale, have scrambled to find money to complete big projects.
The issue, however, was the decision to hit pause created an issue in the books for Peoria since the city had already issued bond debt in the amount of $22 million in November of 2021 to pay for Phase II and that created a legal obligation for the city.
How bonds work
There are two factors that come into play when it comes to bonds. The first one is bond authorization, and the second one is bond expenditure authority.
Bond authorization is what voters approve when they cast their ballot and that sets an amount for a determined project or a category of projects, such as parks, transportation or public safety. The authorization is permission for the city to issue debt and pay for it with property tax.
Peoria property tax increase:City to gather resident input after issuing notice of property tax increase
Expenditure authority is when the city spends the proceeds from the bonds and repays them with what it collects from property tax.
Once the bond is issued, the city is obligated to spend the proceeds within three years. So, on April 4, the City Council voted to reallocate $22 million in expenditure authority to other bond projects in order to properly balance its books.
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Where is the money going now?
Those $22 million that have been reallocated to other bond obligations are now going to fund operational facilities, drainage, and public safety projects.
“These are projects that have been approved by council and we just reallocated cash to those because these are projects that are typically smaller in nature and can get done in the next few years,” Burke said.
When placing their vote to reallocate the funds to other projects, Councilmembers Denette Dunn and Jennifer Crawford cited inequities between the northern and southern parts of town.
“I’ll be fighting for my constituents who struggled without bathrooms in certain parks, cracked sidewalks that are ADA issues, volleyball nets that are falling apart,” said Crawford, who serves the Acacia district in the south.
Outdoor malls coming soon:These 3 developments are going up across the Valley
That was a sentiment echoed by Mayor Jason Beck, who also said previous discussions with the council were clear that it didn’t seem like they were planning on spending more money on parks over the next couple of years.
“Our job is to take care of all citizens, not just in one area. Paloma (Park), my kids are there every day. In fact, my 5-year-old was there today. He was there yesterday and he talked to me about how he went across the jungle gym and he loves to pull them apart, constantly. All he wants to do is go to Paloma Park. It’s absolutely gorgeous,” he said. “The reality, though, is we need to spread that opportunity across all parks in the city of Peoria.”
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FROM ME: FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office / Retail / Industrial / Multi-family / please call me on my cell 520-975-5207 or e-mail me walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net, CCIM, CREXi, Catylist, and various other web sites. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international
DISCOVER WHAT IS HAPPENING IN ARIZONA
History of Arizona from 900 BC – 2017 -Timeline.
What is a CCIM. In Business and in Life you don’t get what you deserve, you get what you Negotiate.
contact me if you want the me to get you the value of your property.
Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net
Click here to find out what is a CCIM:
CLICK HERE TO VIEW ALL MY LISTINGS.
Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?
Walter Unger CCIM
Associate Broker
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
Phone: 480-948-5554
Cell: 520-975-5207
History of Arizona from 900 BC – 2017 -Timeline.
History of Arizona from 900 BC – 2017 -Timeline.
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
CLICK HERE: Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Walter Unger CCIM
Associate Broker
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
Phone: 480-948-5554
Cell: 520-975-5207
FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME
CLICK HERE TO VIEW ALL MY LISTINGS.
Also Call me if you need an estimated value of your Property.
Call me if you want to see a map with what is in the Construction Pipeline for Apartments.
Prefer cell: 520-975-5207, or email me walterunger@ccim.net. CLICK HERE TO VIEW ALL MY LISTINGS.
Check out my professional profile and connect with me on LinkedIn.
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
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