Sun, Aug 14, 2005
Trade You!
The Volusia County School Board
(VCSB) and Embry-Riddle Aeronautical University have completed a
land swap that allows Embry-Riddle to add almost 13 acres to the
proposed aeronautical research park on Clyde Morris Boulevard and
Aviation Parkway adjacent to the airport.
The swap was set in motion in the summer of 2003 when
Embry-Riddle, the city of Daytona Beach, and the Volusia County
Managers signed a letter to the VCSB requesting a delay in planned
improvements to the property at Clyde Morris to explore a purchase
or swap agreement.
Embry-Riddle placed the property at Big Tree and Nova under
contract in August, 2004 after looking at nine potential sites.
Transaction documents between Embry-Riddle, the school board and
the property owner were completed that same month. The Embry-Riddle
Board of Trustees approved closing on the property August 10, 2005,
clearing the way to finalize the land swap.
“This acquisition is a signal to the stakeholders (the
City of Daytona Beach and the County) and the community that
Embry-Riddle is committed to the research park concept,” said
John Metzner, Embry-Riddle’s vice president of External
Relations. “Completing this transaction means that we are now
in the position to move forward with our development plans for the
full 140-acre research park, including the lands identified and
owned by other stakeholders as part of this vital economic
development project.”
At a news conference on the land swap last spring, U.S. Rep.
John Mica said that acquisition of the property adjacent to the
airport was a critical component in the development of the research
park. “This is a very rare confluence of having a premier,
internationally recognized aeronautical university along with an
international airport. I think this is a recipe for success for the
economic future of Central Florida and particularly Volusia
County.”
Embry-Riddle paid about $1.3 million for the Big Tree and Nova
property before swapping the almost 30 acres for the nearly 13
acres adjacent to the airport. The Daytona Beach International
Airport and Volusia County have issued letters of intent, planning
to extend the Sierra taxiway into the land now owned by
Embry-Riddle when the school board relocates to its new site in
about three years.
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