Through the agreement among the city, the Army and Native American tribes, Columbus will get title to the 2,156-acre tract, according to a published report. In exchange, the city will pay $3.8 million and deed 2,124 acres of land in Chattahoochee County to Fort Benning, a major Army base in the Columbus area that will use the land for training purposes.
The city gets 32 more acres, but is paying $3.8 million extra, essentially for the development potential of the land it will receive in the swap. The Chattahoochee acreage has limited infrastructure and utility support. The tract that will go to the city has access to all utilities and telecommunications.
By developing the land, Columbus expects to attract about $1 billion in capital investment and also anticipates a substantial boost to its tax revenues. Developers are likely to begin bidding for projects during the first quarter of 2001 after the Secretary of the Army approves the deal, according to the report.
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