The City of Prescott has signed on to a preliminary agreement regarding the development of hundreds of acres of hill land on its northeast side.
In a Letter of Intent, the city and a company called Arizona Eco Development, have committed to a swap that will see Prescott getting 750 acres of land.
In exchange, Prescott will annex Granite Dells land that could see the eventual building of residential homes and a resort project.
A press release issued by the city says the Letter of Intent balances the need to “preserve as many acres of the vital heart of the Dells, while still allowing the property owner to develop the land in a satisfactory way.”
At the same time, the document said “water and other infrastructure to the property owner” will be provided.
The Prescott-based Eco Development has said that it would like to build multi-family homes on the site in question, as well as a resort development, a prospect that has sparked the opposition of area residents, including a group called Save the Dells.
But the Letter of Intent, if ultimately approved by the Prescott City Council, will allow the project to move forward, with an “upscale ecologically sensitive resort.”
Talks between Prescott and Eco Development on the project have been underway for the last several years, and subject to a series of public input meetings.
If the council agrees to ratify the Letter of Intent, it will then be subject to city staff review, additional public hearings, and a 60-day public comment period.
Arizona Eco Development is a land-holding company that owns 15,000 acres in the Granite Dells and surrounding area.
By Garry Boulard
Get stories like these right to your inbox.