Pima County To Mortgage Buildings For Diamond Ventures Speculative Deal
On March 5, 2019, a majority of the Pima County Board of Supervisors voted to mortgage taxpayers’ property to fund a speculative deal with Rocking K Development Co. and Diamond Ventures, Inc.
As part of the deal, Pima County will issue up to $16,000,000 of tax-exempt certificates of participation (COPs) to cover the cost of the “Valencia Road extension, the spine infrastructure and the on-site infrastructure” of the controversial Diamond Ventures’ (DVI) project.
While Pima County residents beg for road repairs in their long-neglected neighborhoods, Pima County leadership approved the resolution that funds brand new roads for Rocking K home buyers…
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