KINGMAN – The development agreement with Kingman Regional Medical Center for design and construction of the Kingman Crossing traffic interchange will go before Council in executive session at its July 17 meeting.
Council gave Jim Bacon, former interim city manager, approval to work with KRMC to prepare the development agreement in April. Under the proposed agreement, design and construction of the interchange would fall to KRMC and its developer, The Ault Companies. Construction is estimated at about $20 million.
The companies would also pay for constructing Kingman Crossing Boulevard from the interchange to Southern Avenue with contributions for that part of the project capped at $3 million.
Sales tax revenues from areas surrounding the interchange’s location would be shared by the City of Kingman and the companies for 20 years or until the companies make their money back in the full amount of their contribution.
The development agreement must be addressed in executive session because it is a contract. Executive sessions are typically held at the end of Council’s regular meetings, which are at 5:30 p.m. at the Mohave County Administration Building, 700 W. Beale St.