KINGMAN – Kingman City Manager Ron Foggin is reporting progress with respect to the proposed Interstate 40 Rancho Santa Fe Interchange and Parkway project. Foggin expressed excitement in his Thursday afternoon memo to the Mayor and Council members.
Foggin said Kingman has received an executed copy of the development agreement along with a check for $54,000 that was due to the city when the agreement was signed. Foggin said project partner Sunbelt Development has indicated confidence it can demonstrate that financing will be officially secure by early next year.
“With the signed agreement in place, KDP Managers will need to provide their proof of project financing (i.e., irrevocable letter of credit), which they expect to have to the City sometime in January, 2022,” Foggin said. The manager said he’ll further report on the matter during next Tuesday’s council meeting.
Dave Hawkins
