Supes approval sought in next step of Nut Tree airport land deal

03/21/2005 07:12:41 AM
Supes approval sought in next step of land deal
By Jason Massad/Staff Writer

The county is deep into negotiations with a private owner regarding the purchase of nearly 16 acres to expand the Nut Tree Airport in Vacaville.

The property, owned by Whitney Investments-Rainbow Investments, is located along East Monte Vista Avenue and adjacent to the county's general aviation airport.

The asking price is about $2 million. The owners have drafted a non-binding agreement for the county to pay $1.85 million for the land, according to a county report.

The Solano County Board of Supervisors will be asked Tuesday to authorize the county's staff to move forward with the agreement. A preliminary environmental assessment and a formal property appraisal would be conducted before the agreement is complete.

According to the county's report, the property has been available for most of 2004.
The negotiated price of $1.85 million is below the fair market value of the property for comparable lands within the airport's immediate area, the report says. "Acquiring (the) ... property will enable the Nut Tree Airport to enlarge its physical footprint to support the enhancement of aviation-related activities." The proposed acquisition at the Nut Tree Airport could be a positive step in a spate of rough times at the airport.

County leaders most recently scrapped a state loan to build hangars at the general aviation facility because the bid prices were more than the amount of money left to pay for it.
Prior to that, an audit at the Nut Tree prompted management changes and scrutiny of the airport's operations, which were called underperforming by a consultant.

The purchase of the property could be covered by the federal and state aviation divisions.
A Federal Aviation Administration grant, if approved, could cover up to 95 percent of the property's fair market value, according to the county report.
Jason Massad can be reached at county@thereporter.com.

Solano County Board of Supervisors Meeting 9 a.m. TuesdayBoard Chambers inside Old County Courthouse at 580 Texas St. in Fairfield