Council, KRMC move forward with Kingman Crossing
KINGMAN – Council unanimously approved a motion at Tuesday’s meeting authorizing City Attorney Carl Cooper and Interim City Manager Jim Bacon to work with Kingman Regional Medical Center in preparing a development agreement for the design and construction of the Kingman Crossing interchange.
“There’s a series of important community projects which the City Council and the City staff can focus on going forward that they wouldn’t be able to focus on in the absence of the proposal that the regional medical center made,” Bacon said.
Those included road improvements and drainage projects, among others.
According to a letter sent to Bacon from Brian Turney, KRMC CEO, the hospital and its proposed developer, Ault Companies, would work to finish and fund the interchange’s design by Dec. 31, 2019.
The two companies would also pay for the interchange’s construction with a completion date by Dec. 31, 2022, in addition to two-thirds of the total cost of constructing Kingman Crossing Boulevard from the interchange to Southern Avenue. Contributions for the latter would not exceed $3 million. Design and construction of Santa Rosa Drive to Prospector Street and vice versa would fall to KRMC and its developer.
Under the proposed agreement, Kingman would not sell or enter into agreements with developers for the land at the proposed interchange site until 2024.
The City and two companies would share Kingman sales tax revenues from areas surrounding the proposed interchange location, which would be rezoned to Kingman Crossing planned development district.
According to the letter, "The revenue sharing payments are to be paid quarterly to the Company (KRMC and Ault Companies) until the sooner of 20 years of completion of the interchange or receipt by the Company of the amount of the Company’s contribution.”