In alignment with the City’s Economic Development and Revitalization Strategies, Peoria’s Downtown has long been identified as an important revitalization and redevelopment priority. Over the last several years, the City has continued to make meaningful investments and improvements to reposition Downtown for redevelopment by strategically assembling land and refining redevelopment concepts. These efforts have been informed through community input and have helped shape the development and amenities the city will offer through a private/public partnership.

Caldwell County BBQ currently operates three locations within metro-Phoenix area. With proven track record, they are seeking to expand their offering to a location in the West Valley. Based on their success and quality BBQ offerings, they are planning to bring the same family-friendly event gathering venue to Downtown Peoria.

The project will be located on a city-owned site comprising approximately 10,500 square feet generally located between the Lucidi Distillery and the former hotel site. The city acquired the property as part of its revitalization efforts for the Downtown Peoria area.

The Parties agree that the City will construct improvements as generally depicted on a Site Plan. The City will have final authority over all design and construction decisions. Upon completion of the project, Caldwell County BBQ at Peoria, LLC will lease the property from the City by way of a separate Lease Agreement.

The Economic Development Agreement will result in significant direct and indirect benefits to the city and its residents. The lease is a ten-year term with a scale-up rent structure. The tenant has the option to purchase the building one year after the commencement date at fair market value.