New Valley Partnership Chair Urges Preservation Of Economic Development Tool
Valley Partnership recently tapped Opus Group development consultant Brett Hopper as its 2017 chair. “We're optimistic about the Valley’s commercial development opportunities for the rest of the year," he said. "We're particularly encouraged by the growth in transit in the metro areas, such as Tempe and Mesa, which has led to new development activity."
Consistent investment in infrastructure and uncertainly about the Government Property Lease Excise Tax are emerging challenges for the region, Hopper said. "As an advocacy group for responsible development, we're committed to preserving GPLET, the only economic development tool in our toolbox, and putting the Valley and Arizona in the best position possible to promote continued economic growth and to attract new businesses and jobs to the state.”
The libertarian-leaning Goldwater Institute and a Downtown Phoenix restaurant recently filed suit against the City of Phoenix over a GPLET subsidy for the planned Derby Roosevelt Row apartment tower near Roosevelt Row. The suit is seeking to have the tax declared unconstitutional. Also, a bill passed by the Arizona House of Representatives last month would limit GPLET property tax breaks going forward to eight years.
