JOHNSTOWN — The Fulton County Industrial Development Agency passed several motions in relation to the Tryon Technology Park and gave updates on current projects during a video conference on Tuesday.
The IDA passed a motion to authorize the chairman to execute the listing agreement with Cushman & Wakefield of Latham.
At the IDA’s March meeting, the board agreed to retain Cushman & Wakefield to market Tryon. FCIDA Executive Director Jim Mraz and Fulton County Planning Department Director Scott Henze met with representatives from Cushman & Wakefield to tour Tryon, with a focus on buildings 3 and 60, which are the two buildings they are marketing.
Recently, Cushman & Wakefield submitted a listing agreement for the IDA for a one year agreement that started Tuesday and will end April 13, 2021. Their commission would be seven percent on all sales or leases.
“It’s a fairly standard listing agreement,” Mraz said. “It is to authorize the chairman to execute this agreement with [Cushman & Wakefield] so they can officially get started with marketing Tryon.”
Mraz said only a portion of building 3 would be marketed, while the entirety of building 60 — which includes 3.4 acre parcel of land — would be marketed.
As of right now there is no expressed interest in building 60, and once the listing agreement is signed, Cushman & Wakefield will begin advertising it as an available property.
The IDA board also passed a motion to approve increasing the sale price of land at the Tryon Technology Park to $27,500 an acre, and compensate the three entities marketing Tryon as follows: Cushman & Wakefield getting 7 percent, the CRG 6 percent and Fulton County 6 percent.
Mraz said when the IDA took over the title of the former juvenile detention facility, the board established a lot sale price on the land at $20,000 an acre. The IDA has relied on Fulton County and the Fulton County Center for Regional Growth to market Tryon, and have since added Cushman & Wakefield as a partner with Fulton County and the CRG to continue to market Tryon and attract new companies to locate there.
Cushman & Wakefield recommended the lot sale price be changed from $20,000 to $27,500 per acre which would allow them to compensate all entities who are working on the behalf of the IDA to try to market Tryon, Mraz said.
Also during the meeting, Mraz gave an update on the Tryon Electric Project. National Grid will be installing new, primary electric service for the Tryon Technology Park.
The project includes installing new over service from Route 107 to Route 117; installing a new underground electric service along Route 117 to a point past Vireo Health; installing new underground service laterals to Vireo Health, wastewater pump station, water booster station and elevated tank; and the service laterals will terminate at transformer pads.
Mraz said in October, the IDA Board authorized hiring Tom’s Electric to install new electrical services from the transformer pads at the wastewater pump station, water booster station and elevated tank into each of these facilities, and Tom’s Electric is ready to start work on that.
“National Grid started work on the new overhead lines last week. They’re scheduled to start work on the underground service this week,” Mraz said. “Fulton County is responsible for excavating and backfilling the trench the underground service will be located in as well as installing precast concrete transformer pads; the soil and water conservation district is providing he backhoe that is used to excavate and backfill the trench; the county highway department is supplying a truck, skid steer and manpower to operate this equipment in this backhoe. It’s a collective team effort that’s going on out here.”
Mraz said the project will hopefully be finished sometime in May.
Briana O’Hara can be reached at [email protected]