CITY OF KISSIMMEE COMMUNITY REDEVELOPMENT AUTHORITY
The City of Kissimmee Community Redevelopment Authority (CRA) was and is actively working with blight and inappropriate land uses in their attempts to revitalize the urban core. One goal was to relocate an old Rinker concrete batching plant, a dusty, noisy, truck-traffic generator located next to the main hospital in the heart of the city. Colliers was retained to do a site search and to assist in relocation efforts.
• Rinker would not purchase a new site until all permits were procured
• Avoiding business interruption was essential to gaining their cooperation
• Few sites in the target area were suitably zoned Industrial General
• One ideal site had the requisite heavy zoning but the owner would not grant pre-closing terms to allow time for permitting for a concrete batch-plant
Trevor Hall, who conducted the initial site search, negotiated the acquisition of the site by the CRA. The CRA had to acquire title to control the site, at a cost of $505,000.
Once the CRA had control, permitting raised several issues regarding noise, access and road impacts. Trevor participated with the team that procured 90% of the required permitting for a concrete plant. However, during the permitting process, Rinker Materials was purchased by Cemex, a huge multi-national firm and the owner of a plant nearby. This negated the desired relocation.
Colliers was then retained, due to the Cemex acquisition, to market the site. We procured a contingent contract with a new buyer, APAC, an asphalt recycling firm, and oversaw the pre-closing process for the CRA, our client. Result was the 7 acre site was sold by the CRA during a time when market conditions had deteriorated significantly. They recovered all costs and realized a 75% gain in value with the $900,000 sale.
Subsequent to that, Colliers worked with Cemex in the sale of the former Rinker site to the hospital, thus accomplishing the initial objective. The bottom line is, we do whatever it takes to accomplish the objective, as defined by our client.