The Cave Creek Town Council voted unanimously March 31 in a special meeting to initiate the purchase of 4,005 acres of open space land within the town’s boundaries.
The town also approved a financing mechanism in which Cave Creek would secure $10.42 million in revenue bonds with a 25-year amortization.
“This has been a long time coming as (Development Services Director) Luke (Kautzman) said, 20 years or more,” said Council Member Joe Freedman in making the motion to initiate the purchase. “It was thought about even probably way before then. There’s been a lot of hard work, a lot of folks in the audience have done, a lot of folks preceding them before.
