DANCO Affordable Housing Ground Lease Extension
Summary
A 66-unit low-income housing project on three acres of the town's 19-acre Malibu parcel hinges on extending DANCO's ground-lease option to June 30 so it can chase tax-credit funding in April. Critics want lease payments, street and utility costs, and appraisal details nailed down first; supporters say the option binds the town to nothing until terms are negotiated and approved later.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Discussed at 1 meeting in the last 60 days; most recently Oct 5, 2026.
Impact analysis
The land cost the town about $3.2 million (~$165,000/acre); lease payment terms haven't been set yet.
Lower-income families who could get affordable rental housing, plus the town keeps flexibility since terms still need future approval.
Critics argue the 99-year lease encumbers public land and limits future flexibility if terms aren't carefully negotiated.
Mentions & discussions (3)
Planning and Zoning Commission - Oct 5, 2026
The developer plans to retain ownership of the land and lease lots to homeowners — several commissioners said that scares them. The town attorney's office clarified lease terms are outside what zoning can require.
Payson Town Council - Regular - Aug 12, 2026
Woda Cooper's 74-unit workforce housing project won a competitive state tax credit award — one of only 11 from 34 applications, and one of just four in rural Arizona. Rents will run $400–$950 for residents earning 30–60% of area median income, targeting local workers.
Payson Town Council - Regular - Feb 11, 2026
A 66-unit low-income housing project on three acres of the town's 19-acre Malibu parcel hinges on extending DANCO's ground-lease option to June 30 so it can chase tax-credit funding in April. Critics want lease payments, street and utility costs, and appraisal details nailed down first; supporters say the option binds the town to nothing until terms are negotiated and approved later.
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