The Flagstaff City Council this week may consider a proposed agreement with developers of a resort complex that calls for the city to acquire part of the site after the project failed to make a debt-service payment in December.

The city issued $19 million of bonds in 2007 for the Aspen Place at the Sawmill Improvement District to finance infrastructure projects on the 40-acre site. The bonds were to be supported by a special property tax assessment on 25 parcels in the complex.

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