The Columbus Municipal Airport will keep a tract of land at Walesboro off the market for at least a year on behalf of a potential tenant or buyer.
The Columbus Board of Aviation Commissioners have approved a land option contract with SR Assets, a third-party firm working for another company that is interested in the property. The identity of this company is currently unknown to city officials.
According to Airport Director Brian Payne, the 150-acre property is located west of the Cummins, Inc. test track and north of Faurecia. He said that SR Assets has communicated that its client is interested in developing a manufacturing facility at the site, which is reflected in the agreement.
The aviation board previously discussed the contract at its February meeting but tabled the matter to allow for further negotiation with SR Assets, specifically around the length of time the airport would agree to keep the land off the market.
The approved version of the contract gives an initial term of one year, said Payne. The airport board then has sole discretion over whether or not to renew the agreement for another year.
“After talking with them (SR), they believe that they would actually not need any longer than the one year,” he said. “In fact, they think that they don’t need one year.”
Prior to approving the agreement, the board decided to make some minor edits regarding surveys and appraisals of the site.
At a previous meeting, Payne described the property in question as the “least desirable portion of land” owned by the airport and “the most significant of the flooded areas.” While it has access to water and electricity, road access is limited.
The airport has been working with the Greater Columbus Economic Development Corp. for quite some time in hopes of bringing development to this property, but there isn’t much interest, and the long-term concept of a test track has been put on the backburner.
Board attorney Stan Gamso said in February that SR Assets’ client is seeking an option to lease and possibly buy the land, depending on how negotiations turn out. However, the airport also wants to ensure that the aviation board has an opportunity to “fully investigate” the prospective lessee or buyer.
“Right now we don’t know who that is, so we want to afford you that opportunity to do your due diligence, gather the necessary information you need, and determine if that’s a proper business for the community at some point in time and/or if they have the financial wherewithal to deal with this,” he said.
