In light of new information, a Fort Chaffee Redevelopment Authority (FCRA) committee will reconsider a housing development it had rejected Wednesday.
The FCRA real estate review committee had recommended that the FCRA's Board of Directors reject a $180,000 offer from Fort Smith Housing Partners II Limited Partnership to purchase 15 acres on Chad Colley Boulevard to develop rental housing. Some of the committee members did not want to put the development next to higher-end housing.
Executive Director Ivy Owen said Thursday at the board meeting that he and the FCRA's real estate broker, Bob Cooper, met with the applicant Thursday and learned information that they were not told about before putting the offer to the real estate review committee. Owen did not tell the board what the information was but did say that he wanted it to hold off on making a decision until the committee could meet again to discuss it.
"I think it's relevant enough that the committee needs to rehear it," Owen said.
The board approved a $15,000 offer from ERC Holdings LLC, to purchase 3.2 acres of land on R.A. Young Jr. Drive west of the Officers Club. The land is planned to be used for 2,000- to 2,600-square-feet garden/patio homes that will range in price from $300,000 to $400,000.
The board also finalized the committee's decision not to accept an offer on land that is being held for Fort Smith Public Schools. Rick Mooney Construction had offered to purchase about 21 acres at Wells Lake and Frontier Roads for $315,000 to be used for retirement cottages. The FCRA would have had to ask the school board to release the land before the FCRA could sell it. The FCRA and the school district are in the fifth year of a 10-year contract in which the FCRA has agreed not to sell the land so that the school district can purchase it. The real estate review committee members had decided they did not want to put the school district in the position of having to decide whether to release the land.
Fort Smith Public Schools Superintendent Doug Brubaker was at the FCRA meeting during the vote. He did not say anything to the board regarding the decision.