TO: Mayor and Members of City Council
THRU: Lachelle H. Pulliam, City Attorney
FROM: Kecia N. Parker, NCCP, Real Estate Manager
DATE: August 12, 2024
RE:
Title
Resolution Authorizing the City Manager to Negotiate and Acquire Real Property Known as 144 Airport Road for the Airport Corridor Project
end
COUNCIL DISTRICT(S):
Council District(s)
N/A
b
Relationship To Strategic Plan:
Desirable Place to Live, Work and Recreate and Airport Goals to Develop the Airport Corridor and Physical Development/Redevelopment
Executive Summary:
The Fayetteville Cumberland County Economic Development Corporation (FCEDC) worked with the Fayetteville Regional Airport (FAY) to design a series of economic development initiatives in conjunction with the Airport’s Master Plan. The property at 144 Airport Road was in this study and is now for sale. Airport identifies the property as a desirable area to be redeveloped to better serve the Airport Corridor.
Background:
At the December 7, 2020 City Council Work Session the Airport and FCEDC briefed City Council on the Airport Business Corridor Strategy. One goal of this strategy was to create premier airport sites attracting new investment. Staff accomplished this goal by securing a Golden Leaf Grant in the amount of $965,830 to upgrade the PWC lift station that will ultimately provide the needed capacity to support development of airport properties along Airport Road and eventually along Doc Bennett Road. Another goal was to develop the airport corridor, therefore, FCEDC met with City and County planning officials to discuss development opportunities, land use, and zoning along Airport Road and State Highway 301. Due to its high visibility and dramatically varying land uses, it was recommended to acquire the existing properties along this route with the goal of redevelopment. The property at 144 Airport Road was one of the recommended parcels to acquire.
Issues/Analysis:
The due diligence period for the acquisition is almost complete. The remaining items are the appraisal, review appraisal and environmental evaluation. The acquisition is contingent upon the favorable outcome of these items.
Budget Impact:
The purchase price of $150,000.00 is allocated from the Airport Operating Budget.
Options:
• Approve the Resolution of the City Council Authorizing the City Manager to Negotiate and Acquire Real Property Known as 144 Airport Road for the Airport Corridor Project.
• Reject the Resolution of the City Council Authorizing the City Manager to Negotiate and Acquire Real Property Known as 144 Airport Road for the Airport Corridor Project.
Recommended Action:
Staff recommends adopting the Resolution of the City Council Authorizing the City Manager to Negotiate and Acquire Real Property Known as 144 Airport Road for the Airport Corridor Project.
Attachments:
Map
Resolution