The Town of Fountain Hills announced late Thursday, Dec. 14, that it had received full payment of outstanding development fees from N-Shea Group, the developer of Park Place on Avenue of the Fountains.
Town Manager Grady Miller said the town received a payment of $299,230 on Thursday adding to a $103,626 payment on Oct. 5. The total of $402,856 has now been paid, which satisfies all fees owned to the town related to the first phase of development.
“Now that all outstanding development fees have been paid, both parties are excited about working together [to complete] phase I of Park Place, and later phases II and III, which will complete the downtown,” Miller said.
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Town receives Park Place fee payment
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The Town of Fountain Hills announced late Thursday, Dec. 14, that it had received full payment of outstanding development fees from N-Shea Group, the developer of Park Place on Avenue of the Fountains.
Town Manager Grady Miller said the town received a payment of $299,230 on Thursday adding to a $103,626 payment on Oct. 5. The total of $402,856 has now been paid, which satisfies all fees owned to the town related to the first phase of development.
“Now that all outstanding development fees have been paid, both parties are excited about working together [to complete] phase I of Park Place, and later phases II and III, which will complete the downtown,” Miller said.
With the payment complete there will be no obstacles for the developer in requesting a certificate of occupancy as they prepare to move businesses and residents into the development early next year.
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