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Airport Authority Solicits Bids to Purchase Current Airport Site; Qualified Bidders Have Until February 7, 2006, to Submit Purchase Proposals

Posted on: Monday, 7 November 2005, 12:00 CST

The Panama City-Bay County Airport and Industrial District (Airport Authority) has issued a Request for Proposal to Purchase the approximately 713 acres that comprise the existing airport site in Panama City, Florida. Interested bidders will have until 2 p.m. (CST) on Tuesday, February 7, 2006, to submit Statements of Qualifications and Purchase Proposals.

Parties wishing to receive a Request for Qualifications and Purchase Proposal package must register with the Airport Authority by submitting a Letter of Interest to Ms. Pam Henderson, Director of Administration, Panama City-Bay County International Airport, 3173 Airport Road, Box A, Panama City, FL 32405, telephone (850) 763-6751 ext. 202.

"This is the next logical and appropriate step in our efforts to relocate our airport," said Airport Authority Chairman Joseph Tannehill, Sr. "The process has continued to move forward on schedule. We have reached a land donation agreement with the St. Joe Company. We expect to receive the Final Environmental Impact Statement from the Federal Aviation Administration (FAA) by the end of the year and their Record of Decision early next year. Assuming we get a favorable Record of Decision, we want to be in position to complete the sale of the existing airport. This Request for Purchase Proposal starts the process."

"It is important to note that the sale of our airport must proceed based on established FAA guidelines," said Tannehill. "The Airport Authority has a responsibility to maximize the value we get from the sale of our existing airport. That money, in turn, will be used to help pay for construction and relocation of the airport. We are obligated to conduct an open competitive bidding process. We cannot direct the sale of our existing airport to any company or person. However, any financially qualified person, company or organization can participate in the bidding process."

A Bid Deposit in the amount of $50,000 must accompany each Purchase Proposal. Bid Deposits of unsuccessful bidders will be returned without interest, when the Airport Authority executes a final Contract for Sale and Purchase with the selected bidder.

The Airport Authority currently expects to complete the bid process and vote on the Selected Purchaser at its March 21, 2006 board meeting.

The Airport Authority will require the selected purchaser to complete a Development of Regional Impact (DRI) and obtain the approvals to implement the appropriate local, state, and federal agencies. "We believe the DRI process will allow the property to be redeveloped to the maximum advantage and betterment of the community," said Tannehill.

An anticipated schedule and sequence of events for the solicitation for sale process is outlined below. Due dates and times for submittals are indicated below. All dates are subject to change without notice. Activity /Milestones Date ---------------------------------------------------------------------- Advertisement October 30 and November 7, 2005 ---------------------------------------------------------------------- Information Session and Site Tour November 29, 2005 (Non-Mandatory) ---------------------------------------------------------------------- Formal written questions due December 9, 2005 (2 p.m. CST) ---------------------------------------------------------------------- Response to questions sent to December 20, 2005 (5 p.m. CST) Registrants ---------------------------------------------------------------------- State of Qualifications and February 7, 2006 (2 p.m. CST) Purchase Proposals ---------------------------------------------------------------------- Airport Authority Board Selection March 21, 2006 of Selected Purchaser ----------------------------------------------------------------------

All questions pertaining to the Request for Proposals are to be addressed to Ms. Pam Henderson, Director of Administration, Panama City-Bay County International Airport, 3173 Airport Road, Box A, Panama City, FL 32405. Written questions may be mailed or transmitted by facsimile, (850) 785-5674.

Source: Business Wire

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