School District Surplus Land Initiative Garners Spotlight
The Phoenix IDA and Housing Director Cindy Stotler continue to raise awareness about the School District Surplus Land Initiative, which was designed to assist school districts in selling unused land to the City of Phoenix in order to create more affordable housing developments. Once the land is sold to the city, a land use restriction is placed on the property and the property is transferred to the Phoenix IDA who becomes the landowner and lessor working with developers who are building projects that serve a “public purpose,” as defined by Arizona statutes.
Stotler gave a panel presentation entitled “Housing Opportunities on School District Land” at the Arizona Housing Forum discussing this innovative program that represents a win-win-win for school districts, developers and the City of Phoenix.
Her presentation highlighted the Phoenix IDA’s collaboration with the Isaac School District and UMOM New Day Centers on the first transaction of its kind to utilize tax-exempt bonds and low-income housing tax credits to fund a land purchase for an affordable housing community being developed called La Esperanza.
Alhambra Elementary School District is currently working with UMOM and the Phoenix IDA on a similar transaction to build affordable housing on their surplus land. Another affordable housing project with Isaac School District is projected to close in mid-2025, and several other school districts are in discussion with the Phoenix IDA regarding the sale and development of their surplus land.
Welcome Our New Controller
Tricia Shields recently joined the Phoenix IDA as controller. With two decades of high-level accounting experience with various local nonprofit organizations, Shields is a subject matter expert in nonprofit accounting with a passion for implementing technology to automate workflows and integrate with software systems. She also has a knack for developing detailed Excel spreadsheets.
She earned her MBA from Louisiana State University and her bachelor’s degree from Arizona State University.
International District Night Market to Launch Oct. 26
The Arizona Asian Chamber of Commerce, the City of Phoenix, the Phoenix IDA and community members have been working to designate the corridor of 19th Avenue and Camelback Road as the International District with the goal of increasing economic development in the area by welcoming diverse businesses representing an array of cultures.
“Launching an International District makes perfect sense for our diverse, growing city—especially as we usher in historic foreign direct investments such as TSMC toPhoenix. Our city celebrates and finds strength in our diversity, and I am excited that the new District will showcase the many incredible cultures that have come to call Phoenix home.” -Mayor Kate Gallego
The International District Night Market marks the second event for this new district, with a Halloween theme featuring a costume contest, live music, food, a car show and more!
