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NEWS RELEASE

City of Goodyear, Arizona

Public Information Office

 

For Immediate Release: June 16, 2008

Goodyear signs lease with Franklin Pierce University

 

GOODYEAR, AZGoodyear city council has approved a lease with a second university. The city signed off on a 99-year lease agreement Monday, June 9, with Franklin Pierce University, authorizing a new campus to be built on a 30-acre parcel near the northwest corner of Estrella Parkway and Yuma Road.

 

Goodyear also signed a 99-year lease in March with the University of the Incarnate Word, based in San Antonio, Texas. Like the lease with Franklin Pierce, UIW will build a campus on 30 acres, also on the northwest corner of Estrella Parkway and Yuma Road.

 

Both universities will initially develop their campuses on 20 acres near the future City Center, and are required to maintain the remaining 10 acres as parks until the property is developed in the future. They will share city amenities, including a library, the ballpark facilities, and a performing arts center which may be built in the future.

 

Both Franklin Pierce and University of the Incarnate Word offer a 15 percent tuition discount for Goodyear residents and city employees.

 

Franklin Pierce has also recently made arrangements with Abrazo Health Care and will begin offering a doctor of physical therapy program in December, and an associate’s degree nursing program in January 2009.

 

Franklin Pierce will pay the city $1 annually for the first 50 years of the lease term. The second half of the terms calls for Franklin Pierce to pay 15 percent of the market value of the land, with increases of 5 percent of market value every 10 years. At the end of the 99-year lease term, the university will have the right to purchase the land.

 

The lease calls for the university to have the campus operational by 2014, and penalties will be assessed if that deadline is not met. Phase I of the university is scheduled to be done in 2012, and construction will continue after that for several years.

 

Franklin Pierce is a private university, and was founded in the early 1960s. The main campus located in Rindge, N.H.


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City of Goodyear • 190 N. Litchfield Road • Goodyear AZ 85338 • Phone 623-932-3910 • Toll-Free 1-800-872-1749