The city of Apache Junction is purchasing 10 acres for nearly $3 million to help develop the property near the site of the old Grand Hotel.
The council on Feb. 20 voted 6-0 to approve the purchase and sale agreement with Golden Triangle QOZB LLC for approximately 10.64 gross acres of land north of the previous site of the Grand Hotel. Vice Mayor Robert Schroeder was absent.
City staff negotiated the $2,940,300 purchase and sale agreement between the city and Golden Triangle QOZB LLC, Economic Development Director Patrick Ainsworth wrote in a memo to the council.
