SEEDA Moving Forward With Land Purchase For Hi-Tech Business Park Expansion

Now that the site has been selected for what will be an expansion of Sheridan Hi-Tech Business Park, the step is to purchase the land.

Last month the Sheridan Economic and Education Development Authority (SEEDA) selected a 45-acre parcel of land on the other side of Yellowtail Drive, opposite of where the current park is located, as the site for the next phase of the park.

The land that SEEDA is after is currently owned by John E Rice & Sons Incorporated, who is giving SEEDA up to one year to enter into a real estate agreement for the land, at a price of $2.5 million.

The cost is for 35-acres and the other 10 are being gifted.

SEEDA Administrator Robert Briggs explains what the next step in the process is.

“The next step for SEEDA is to look at the different potential funding sources and start to pull together the funding to acquire the property and then just continuing to work with John E Rice & Sons on that process.”

Briggs adds he estimates the SEEDA Board will meet several times in the future to approve certain actions regarding the real estate purchase agreement, before closing on the property.