I would like to know if the current income and expense report on the Five Points Business park is available.
DCOA buys land to expand business park
(Industrial : Abilene) 6/24/2009
Board members agreed to a 122-acre purchase that would expand Five Points Business Park for the first time since Development Corporation of Abilene (DCOA) had the land.
The total site cost will be $510,969 spread over two years, said Richard Burdine, assistant city manager. The land is being purchased at a price of $3,950 per acre from the estate of Burl Harris.
Burdine estimated that the park currently has about 165 undeveloped acres. He told the board about a trend towards larger sites in the business park, noting that recent occupant Tower Tech is using about 40 acres.
The land is between Marigold Street and I-20, east of Arnold Boulevard and to the north of the existing business park.
While the DCOA's website describes the park's current size as 600 acres, Burdine said the usable acreage is much smaller because of flood concerns and the slope of some of the land.
"I think we'll have a need for that property in the next five years," Burdine told the board. The DCOA is funded by a half-cent city sales tax and takes in about $10 million per year, including rent from tenants and other revenue, Burdine said. Some occupants own land in the park.
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