Proposed Swap Of Fuel Depot Land In Exchange For Construction Rights

Air Force officials and Florida Congressman Allen Boyd announced Tuesday the selection of Tyndall Development Partners, LLC, as the highest ranked offeror for negotiating a transfer of the Lynn Haven Fuel Depot property in Lynn Haven, FL, in exchange for performing military construction at Tyndall Air Force Base.

Kathleen I. Ferguson, the deputy assistant secretary of the Air Force for installations, selected Tyndall Development Partners, LLC, which is owned and managed by Hunt ELP, Ltd., of El Paso, TX. Air Force officials now will enter a period of exclusive negotiations with the company to determine the terms and conditions of the transaction.

Air Force officials say they have worked closely with those in the city of Lynn Haven, Florida State University and Congressman Allen Boyd's office on a plan for development of a water-based research park, with an FSU-Panama City satellite campus serving as an anchor. The development will increase tax revenues and significantly expand economic development in Lynn Haven.

"This is an exciting opportunity to convert underutilized, vacant property into a productive development," said Brig. Gen. Darryl Roberson, commander of the 325th Fighter Wing at Tyndall AFB. "This transaction mutually benefits the local community, FSU, and the Air Force now and into the future. We all have a vested interest in seeing this project successfully completed and we look forward to working with the developer."

Congressman Boyd praised the participants for bringing this together.

"This is great news for Tyndall Air Force Base, FSU, the city of Lynn Haven and the people of Bay County," he said. "Last year, through legislation in Congress, we reached an agreement to transfer 40 acres located at the Lynn Haven Fuel Depot to FSU for the purpose of developing a new research campus. In the past year, we moved forward and continued to work together to determine the best way to utilize the remaining land that will most benefit our area. I am pleased that through our collaborative and coordinated efforts we are seeing this project to a positive and successful completion."

The Lynn Haven Fuel Depot property consists of three parcels totaling 184 acres. A parcel of approximately 40 acres has been designated for transfer to FSU for use as a satellite campus; a 50-acre parcel is a railroad right-of-way that will likely be used to improve access to the site; and the remaining 94-acre parcel is intended for development by Tyndall Development Partners, LLC.

FMI: www.af.mil