Subsidy Tracker Individual Entry

Company: 
Thomas J. Klutznick Co.
Parent Company: 
Thomas J. Klutznick Co.
Subsidy Source: 
local
Location: 
Arizona
City: 
Phoenix
Project Description: 

CityNorth luxury mixed-use development

Year: 
2007
Major Industry of Parent: 
real estate
Specific Industry of Parent: 
real estate
Subsidy Value: 
$97,400,000
Program Name: 
sales tax rebate
Awarding Agency: 
Phoenix City Council
Type of Subsidy: 
MEGADEAL
Source of Data: 

The subsidy value came from: Michael Clancy, "CityNorth Subsidy Challenged," Arizona Republic, August 9, 2007.

Notes: 

The subsidy deal allowed Klutnick, the developer of the project, to get rebates of the sales tax generated at the complex for 11 years or until the $97.4 million mark was reached. The deal was challenged in court by the Goldwater Institute, but the state court of appeals ultimately allowed it to stand. In 2012 Gray Development Group took over the project, only a portion of which has been built. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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