- A Land Purchased Agreement requested prior to the year 2007 must be a Lease Agreement until the Deed is available from the federal government.
- The land that begins with a lease, must be purchased within 90 days of the date that the Deed is provided by the Depot Redevelopment Corporation (DRC) in an Agreement of Purchase and Sale.
- The current sale price for land is $2.25-sq. ft. and the land lease rate is $.25-sq. ft. An acre of land for sale is $98,010, and lease -- $9,801.
- Operating Cost Fee (OCF) is $.06-sq. ft., which is required to cover costs such as, ground maintenance, property security, common property utilities and administrative overhead.
- A 10% security deposit/earnest money—cash or an irrevocable letter of credit—must be provided with the final sales proposal agreement.
- Audited financial information must be provided.
- Fire and casualty insurance is required to provide liability insurance in the amount of not less than $2 million combined single limits for bodily injury and property damage, naming the Depot Redevelopment Corporation (DRC), Secretary of the Army and the United States of America as the insured. Copies of policies and certificates evidencing coverage must be provided to DRC.
- All building/improvement plans must be reviewed by DRC prior to construction.
- Tenants must be members of the Property Owners Association, pay regular dues and comply with all rules and guidelines.
- Businesses located in the MDBP can take full advantage of the Foreign Trade Zone (FTZ), which is designed to allow businesses to attract and promote international trade and commerce.
- To maintain security at the MDBP, all employees are required to wear identification badges while on the premises. For information on obtaining vehicle and employee gate passes, contact DRC's Office Assistant at (901) 942-4939.
|
