Posts Tagged ‘economic development conveyance’

There were few surprises in the final rule the Pentagon issued Wednesday implementing the changes Congress approved two years ago to incorporate flexibility in the process of negotiating economic development conveyances in a bid to accelerate redevelopment at BRAC installations. The rule, published in the Nov. 16 Federal Register, varies from the language of the Dec. 17, 2010, proposed rule in only a few instances …

Massachusetts officials confirmed that the South Shore Tri-Town Development Corp. and the Navy would sign a purchase and sales agreement Tuesday for a 700-acre tract at the former Naval Air Station South Weymouth. The LRA reached an agreement with the Navy in August to purchase the property for an estimated $25 million, with about half the compensation relying on revenue sharing …

An agreement on the transfer of the former Fort Monmouth to the property’s LRA could be reached next month, according to Executive Director Bruce Steadman. The Army and the LRA have been close to an agreement for several months, though, so it is possible the latest target may have to be pushed back …

Town councilors in Weymouth, Mass., are asking why the LRA for the former South Weymouth Naval Air Station has agreed to pay the Navy an estimated $25 million for a 700-acre EDC when the city of Alameda will be obtaining a 900-acre EDC at no cost at the former Naval Air Station Alameda. “If it’s good enough for Alameda, it should be good enough for us …

The agreement the Navy and the city of Alameda struck last month over the terms of the transfer of a 918-acre parcel at the former Naval Air Station Alameda was the direct result of the city’s decision to return to the base’s original reuse plan, one that emphasized job growth over housing …

The Army last week conveyed 2,850 acres at Red River Army Depot to TexAmericas Center in northeastern Texas, allowing the LRA for the depot and the former Lone Star Army Ammunition Plant to gain ownership over the bulk of excess property generated by BRAC 2005 at the two sites. In all, TexAmericas Center has obtained 11,724 acres from the Army via an economic development conveyance …

Weymouth officials are questioning the Navy’s plans for cleaning up the former South Weymouth Naval Air Station, Mass., as the deadline approaches for the LRA and the Navy to complete a final agreement on the terms of an economic development conveyance for 700 acres …

After almost 14 years of haggling over the price of a 918-acre parcel at the former NAS Alameda, the Navy last week agreed to hand over Alameda Point to the city via an economic development conveyance for free. The Navy’s offer to convey the property at no cost will provide a tremendous boost to the city’s strategy to assume the role of master developer for the property …

The LRA for the former Naval Air Station Brunswick became the latest beneficiary of recent changes to the rules governing EDCs after reaching a deal with the Navy over the transfer of about 1,100 acres at the base located on the coast of Maine. Under the agreement, the LRA will sign a $3 million promissory note with the Navy, requiring the authority to make annual payments over 20 years …

The Navy and the LRA for the former NAS South Weymouth signed a term sheet for the economic development conveyance of a 681-acre parcel the authority could obtain before the end of the year. The term sheet outlines the legal terms of the deal the two parties reached in July, as well as plans for the Navy to finish cleaning up the base …