Trade You!

The Volusia County School Board (VCSB) and Embry-Riddle Aeronautical University have completed a land swap that allows Embry-Riddle to add almost 13 acres to the proposed aeronautical research park on Clyde Morris Boulevard and Aviation Parkway adjacent to the airport.

The swap was set in motion in the summer of 2003 when Embry-Riddle, the city of Daytona Beach, and the Volusia County Managers signed a letter to the VCSB requesting a delay in planned improvements to the property at Clyde Morris to explore a purchase or swap agreement.

Embry-Riddle placed the property at Big Tree and Nova under contract in August, 2004 after looking at nine potential sites. Transaction documents between Embry-Riddle, the school board and the property owner were completed that same month. The Embry-Riddle Board of Trustees approved closing on the property August 10, 2005, clearing the way to finalize the land swap.

“This acquisition is a signal to the stakeholders (the City of Daytona Beach and the County) and the community that Embry-Riddle is committed to the research park concept,” said John Metzner, Embry-Riddle’s vice president of External Relations. “Completing this transaction means that we are now in the position to move forward with our development plans for the full 140-acre research park, including the lands identified and owned by other stakeholders as part of this vital economic development project.”

At a news conference on the land swap last spring, U.S. Rep. John Mica said that acquisition of the property adjacent to the airport was a critical component in the development of the research park. “This is a very rare confluence of having a premier, internationally recognized aeronautical university along with an international airport. I think this is a recipe for success for the economic future of Central Florida and particularly Volusia County.”

Embry-Riddle paid about $1.3 million for the Big Tree and Nova property before swapping the almost 30 acres for the nearly 13 acres adjacent to the airport. The Daytona Beach International Airport and Volusia County have issued letters of intent, planning to extend the Sierra taxiway into the land now owned by Embry-Riddle when the school board relocates to its new site in about three years.

FMI: www.erau.edu