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Item No. 16 <br />memorandum <br />TO: City Council <br />John Godwin, City Manager <br />FROM: Shawn Napier, P.E. <br />Director of Engineering, Planning & Development <br />SUBJECT: FAA SURPLUS PROPERTY RELEASE AT COX FIELD <br />DATE: January 6, 2015 <br />BACKGROUND: AgPro requested to purchase additional property form the City of Paris for <br />possible expansion. They have requested 12.662 acres land east of the current 10 acres they own <br />at the Northwest corner of Cox Field property. The City of Paris requested a surplus property <br />release from the Federal Aviation Administration (FAA) in August 2014. <br />STATUS OF ISSUE: The City of Paris received a formal letter from the FAA in December <br />2014 releasing the restrictive deed covenant on the 12.662 acres. The FAA has determined that <br />the release of the property will not adversely affect the development, improvements, operation or <br />maintenance of the airport. <br />BUDGET: The appraised value of the 12.662 acres of land is $89,000. If the property is sold <br />this would be the minimum dollar amount accepted for the property. <br />RECOMMENDATION: Accept the Deed of Release from the Federal Aviation Administration. <br />