During Tuesday’s city council meeeting, members approved a memorandum of understanding (MOU) with First Hartford Realty Corporation related to the development of an entertainment and retail district located near Interstate 10 and Zaragoza in the city’s Mission Valley.
Via a news release, city officials say, “The City is confident that the creation of a mixed-use development consisting of destination retail and entertainment will spur new economic development opportunities along this portion of the interstate, while also helping increase the city’s regional draw.”
The MOU acknowledges that the City and First Hartford will work jointly to identify and create a development that may include: retail, dining, hospitality and entertainment uses.
The memorandum also identifies the various infrastructure improvements which will need to be completed in order for the development to occur. And lastly, the MOU acknowledges that First Hartford will be seeking an incentive and development agreement from the City within one month.
The valuable 30 acre site in question currently sits unused and has been vacant for decades.