FCRA donates $50,000 to chamber development fund

story by Aric Mitchell
[email protected]

Fort Chaffee Redevelopment Authority (FCRA) board members granted a $50,000 donation to the Fort Smith Regional Chamber of Commerce during a Thursday meeting.

The agreement followed a presentation and request from Chamber President Paul Harvel. FCRA’s donation will be spread evenly across a four-year time period and will be earmarked for economic development projects only.

The show of support is not the first time that FCRA has approved of a fundraising effort for economic development from the Fort Smith Chamber. In 2005, the FCRA contributed to an effort that ultimately garnered $2.7 million in incentive monies the Chamber used to attract outside businesses, such as Mitsubishi and Umarex, that now call Chaffee Crossing home. Harvel said the goal of this campaign is to raise an additional $2 million, and that prior to FCRA’s donation, the tally was at $1.7 million.

The effort comes largely from private monies donated by area businesses. Harvel notes the importance of what these fundraising efforts mean to other areas of capital.

“According to the Governor’s Quick Action Closing Fund, for a community to be eligible for government funding, they have to be able to show what they are doing privately for economic advancement,” Harvel said. “Essentially, without this money and what you folks have done, we cannot qualify for the state funding that we need to grow the area.”

HOSPITAL FIRE
FCRA Executive Director Ivy Owen briefly addressed the old base hospital fire that The City Wire reported on Aug. 4, and the Kentucky National Guard’s role in it, along with the cleanup efforts.

“I have no reservations about asking the Kentucky National Guard for help with the cleanup efforts,” Owen said. “Or maybe we can handle it, and they can reimburse the costs of it. They admitted to being there. They were the only ones there when it went up in smoke. They called 9-1-1.”

Owen said five buildings were not burned, and that following a hazard test, the area has been determined to be free from asbestos, so cleanup efforts can begin immediately.

According to the Fort Smith Fire Marshal’s Office, the cause of the incident was undetermined, but was probably accidental and caused by “smoking materials,” Owen said.

LAND DEVELOPMENTS
The Real Estate Review Committee (RERC) of the FCRA proceeded the August meeting with a number of recommendations for land development initiatives that were all met with unanimous approval. First on the agenda was the acceptance of the city of Fort Smith’s plan to acquire ownership of McClure Amphitheater.

On Sept. 17, Fort Smith will take over the McClure Amphitheater thanks to a conveyance of title from the FCRA. The parking lot area, which houses four street lights, is owned by Sebastian County and will not be deeded to the city, though the county has agreed to lease the property. All revenue and event scheduling actions will be handled by Fort Smith’s Parks Department, but Owen said the FCRA would help maintain the property.

Following the conveyance, board member Bob Bradford recommended and received approval on a land sale to Fort Chaffee Auto Auction at Chaffee Crossing. The land was purchased for the sum of $541,862.10 and will feature one public auction per month as well as a weekly auction for area car dealers.

“There’s not another auction place like this within 80 miles,” Bradford said, noting that each auction event is estimated to bring in close to 1,000 participants.

The Fort Chaffee Auto Auction will spend $800,000 in renovation fees and employ 20 full time and 30 part-time employees. Approximately 800 to 900 cars will be onsite at a time, and auctions will also be available online if one wishes to participate but is unable to attend the events. Fort Smith Chaffee Auto Auction at Chaffee Crossing has a tentative launch date of Nov. 1.

In other actions, Arvest Bank was granted a $100,000 purchase price for 2.6 acres at the southwest corner of Chad Colley and Massard Road for a branch the company would like to open to coincide with I-49 development. The approval was contingent on the ability of FCRA to work out an agreeable development timeline within the next 30 days, and will likely be readdressed at September’s meeting, Bradford said.

Also, Rod Blake won a bidding war for 270 acres of Chaffee Crossing land to install a new rifle range and hunting club. Blake’s offer of $189,000 beat out that of Fred Williams, who had offered $100,000 to purchase the same tract of land for expansion of his farm operation, according to Bradford.

To close out the real estate transactions, Bradford announced that Carrington Creek Holdings would be exercising their option on an additional 14.9 acres of land for the purchase price of $178,000.

Other items addressed at Thursday’s meeting included an update on phase one of infrastructure improvements for utility and street construction including I-49. Forsgren, Inc., is the low bidder at $862,000 for a projected $881,000 contract.

Owen also wanted to thank Joey Chastain and Stephanie Malone for their work in winning approval of the Historic District to the National Register of Historic Places.

The next regularly scheduled meeting of the FCRA is set for Sept. 15.