FCRA boss to get $25,000 bonus
by December 18, 2012 6:21 am 135 views
Fort Chaffee Redevelopment Authority (FCRA) Executive Director Ivy Owen received a $25,000 bonus and a two-year contract extension on Monday (Dec. 17) following board approval of a $418,000 land sale to First Baptist Church.
The two items headlined the group’s end-of-the-year meeting, which took place at the FCRA building at Chaffee Crossing.
The announcement, which marked Owen’s fifth anniversary as FCRA Executive Director, followed executive session at the end of Monday’s agenda. Overall amount of the increase represents a $5,000 bump from last year’s award.
“I have a fantastic team. I don’t know how it happened, but it’s happened. We all work so well together,” Owen said, adding that he “plans to stay here till I retire.”
The 2012 budget shows $825,000 set aside for staff salaries with an additional $32,500 in incentive pay. Through the first 11 months of the year, the FCRA has amassed gross profits of $3.745 million against $3.035 million in total expenses for a net income of $710,320 (around $821,655 once reimbursement is received from an Environmental Protection Agency grant).
Also Monday, the board accepted a proposal from First Baptist Church of Fort Smith to purchase 62 acres at the northeast corner of Massard Road for the sum of $418,000 ($6,741 per acre).
FCRA board member Galen Hunter called the purchase “a fair price” considering that “only about 38 acres are located outside the floodway and build-able.” Hunter added that the church’s plans are “still in the design stages,” so it remains to be seen whether First Baptist will relocate completely or operate two campuses.
Hunter noted that the church would be responsible for “bringing utilities from the north end of the site to the south end” per terms of the agreement.
Finally, the board voted unanimously to convey four additional acres to the Umarex expansion announced in November. The air gun manufacturer will welcome Walther Arms to its Chaffee Crossing campus and expand existing facilities starting in 2013.
In all, the two companies are expected to add “70 to 120” jobs – joining an existing workforce of 71 – to the Fort Smith region in the next five years, according to Adam Blalock, CEO of Walther and Umarex USA.