City Commission to Address $145 Million in Proposed Private Investment at Tallahassee Airport – Tallahassee Reports
It appears that the City of Tallahassee’s marketing efforts of available land around the Tallahassee Airport is about to bear fruit.
The agenda for next week’s city commission meeting has two items that seeks approval from elected officials to allow city staff to commence negotiations with private companies that are proposing a $145 million in private investment at the Tallahassee Airport.
The first item is related to Burrell Aviation, LLC
Tallahassee Reports first reported about Burrell Aviation’s interest in the Tallahassee airport back in March. The business model of the Apsen, Colorado based company calls for entering into long-term leases, typically 30 to 50 years, with municipally owned airports.
The agenda notes that Burrell Aviation Tallahassee, LLC is proposing to lease approximately 32 acres of airport property and to construct approximately 388,000 square feet of facilities.
The project consists of a proposed mixed-use development that includes general aviation, maintenance repair and overhaul, and air cargo / freight distribution facilities.
The development is expected to provide approximately $35,000,000 of private investment and result in over $14,000,000 of new revenue to the Tallahassee Airport during the term of the agreement.
In addition, the agenda item states that the proposed development would result in the creation of approximately 489 direct, 100 indirect and 149 induced jobs, for a total of 738 permanent jobs and over 400 temporary construction jobs during the development with a total economic impact exceeding $140 million, as projected by Florida State University’s Center for Economic Forecasting and Analysis.
The second item on the agenda is related to a project subject to a non-disclosure agreement which was signed by the City of Tallahassee on June 30, 2021.
City staff is seeking approval from elected officials to negotiate and execute an agreement with “Project Alpha” stakeholders for the lease and development of Tallahassee Airport property.
According to the agenda, the company behind Project Alpha proposes to lease approximately 57 acres of Tallahassee Airport property for the development of approximately 583,250 square feet of aircraft facilities. The development will provide approximately $110,000,000 of private investment and will result in over $30,000,000 of additional revenue to the airport during the term of the agreement.
In addition, the project would result in the creation of approximately 524 direct, 235 indirect and 226 induced jobs, for a total of 985 permanent jobs and over 1,000 temporary construction jobs during the development with a total economic impact exceeding $450 million, as projected by Florida State University’s Center for Economic Forecasting and Analysis.
The company behind Project Alpha is working closely with the Office of Economic Vitality and Space Florida to take advantage of financing and tax incentive opportunities.
David Pollard, the Tallahassee International Airport Director, told Tallahassee Reports that more details about the projects will be presented at Wednesday’s Tallahassee City Commission meeting.
The Master Plan
The Tallahassee International Airport completed an updated Master Plan in 2019. The primary objective of the Master Plan is to produce a 20-year development program that “would maintain a safe, efficient, economical, and environmentally acceptable aviation facility, while also identifying recommendations for improving customer service and technology.”
In addition, the Tallahassee International Airport advertises and markets available land in targeted aeronautical and non-aeronautical sectors.
As a result of these efforts, the agenda item notes that the Tallahassee International Airport was approached by businesses interested in development opportunities.