Details of land purchase agreement between New College and SRQ Airport announced
Fred Piccolo, CEO of Sarasota Bradenton International Airport, explains details of an upcoming purchase of airport land by New College of Florida.
Facing likely rejection, Sarasota-Bradenton International Airport has withdrawn its application to the Federal Aviation Authority (FAA) to sell a property to New College of Florida.
New College officials offered $11.5 million to purchase 30.94 acres from the airport to make needed renovations to existing buildings and potential athletic program facilities. The land sale was rejected by the FAA, then contested by the airport and now withdrawn.
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“In the end, it became clear that they were not going to approve the land release,” said airport SECO Rick Piccolo. “It just didn’t make sense to continue this back and forth when it was already pretty clear, so we’re just withdrawing the application. At the end of the day, New College has 31 years left on its lease and at some point in the future, the problem will be someone else’s.”
The change in plans means New College will have to start from scratch and revise the school’s master plan. Officials have said the master plan approval process will be completed early next year.
New college sets course and begins revising its master plan
New College President Richard Corcoran announced last week that New College would focus its efforts on updating the school’s master plan and that it would be presented to board members for review early next year.
Corcoran did not elaborate on the factors that prompted officials to revise the plans, but New College spokesman Nathan March told the Herald-Tribune on Tuesday that one of those factors was the status of the land lease with the airport.
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New College leases nearly 35 acres of land from the airport for approximately $108,072 per year under a 99-year lease that expires in October 2057, achieving significant cost savings.
When that lease expires, the college faces a significant rent increase because FAA rules require that land be leased at market value. The college buildings on that property could also become the property of the airport, but improvements or major investments on the property could become a risky proposition for college officials as they evaluate plans for the college.
“While we are disappointed that the transaction could not be completed, we are grateful for the efforts of the airport authority,” said Richard Corcoran, president of New College, in a prepared statement. “New College will continue to cooperate on future development issues. In the meantime, this will free up college resources to continue to improve the campus.”
SRQ Airport withdraws application for land sale
The airport withdrew its application to sell the property after it became clear that FAA officials would oppose the sale, fearing the land could be valuable for new types of air traffic in the future.
Picollo said it is too early to say how the introduction of electric takeoff and landing technologies and drone systems will affect local airport needs.
“They’re developing these electric aircraft that can travel short distances,” Piccolo said. “So for travel within the state, you can have these eVTOLs take you from here to Orlando or from here to Fort Myers.”
“Their concern was that these types of aircraft don’t need runway access, so they don’t know what will be needed in the future,” he said. “The guidelines they released the day before we submitted our application emphasize that even more and the need for the FAA to be very cautious in releasing federal land.”
Piccolo said he doesn’t know what the future holds for New College.
“In five years they’ll be much more proficient in this technology, so it’s entirely possible they’ll look at it again at some point,” he said. “On the other hand, it could be something that’s 31 years away.”
