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Deal reached for TDK propertyThu, 07/27/2006 - 4:18pm
By: John Munford
Agreement beats July 31 deadline for grant An agreement in principle has been struck in a complex land deal that will allow officials to proceed with building the road extension of TDK Boulevard to link with Coweta County, officials said Wednesday. The major sticking point, which was the purchase price of property now owned by Pathway Communities, has been resolved, according to Peachtree City Mayor Harold Logsdon. The purchase price is in line with one of the appraisals on the property, and is less than the $2 million grant from the Federal Aviation Administration that will fund the land acquisition to protect the runway safety area for nearby Falcon Field. The deal is complex in part because the Pathway land is needed to relocate two golf holes on the Planterra Ridge golf course. The grant gives the airport ownership of property to its north to be used as a safety area, and the road path will be routed around that land, officials said. Officials were facing a July 31 deadline to reach agreement in negotiations or the $2 million FAA grant would be assigned to another airport. Logsdon said he was very pleased at the outcome of the negotiations, and the only hurdles left to clear are the signing of various agreements and contracts. “I expect we’ll be riding down TDK by the end of 2008,” Logsdon said. Airport Authority Chairman Jerry Cobb said he was pleased the airport will be able to extend the runway safety area, which will give planes a little more room to land safely should an emergency occur. Peachtree City officials are responsible for land acquisition and design of the road, while Fayette County officials are responsible for the road construction, including part of the bridge that will span Line Creek. Coweta officials have already pledged to build their side of the road, which will link TDK with Coweta County’s McIntosh Trail. Proponents of the project say it will help improve business in south Peachtree City, particularly in the Braelinn Village shopping center. It will also provide employees of the city’s industrial park another avenue of coming to work each day. The project has been envisioned for years but stymied by a host of delays. login to post comments |