Putnam County Commission approved moving forward with a new developer to option the old Putnam County Fairgrounds Monday night.
E2L Real Estate Solutions is set to spend the first 120 days of the option performing due diligence such as surveying and core drilling. President and Partner Mark Hefferin said they have started drafting concepts for the master plan, and believe it will be best suited for mixed-use.
“I think bringing industry in here, I was really fortunate early on in my career to work with a lot of international companies from Japan, Belgium, Germany,” Hefferin said. “We see this area, and I know you live here so you see it as much as anybody, as a very attractive place to bring a business.”
Putnam County Mayor Randy Porter said the developer has the capability to extend the option three times if he meets requirements. The first extension will cost $20,000 for 120 days and the property must be rezoned and the master plan completed. The second extension will cost $30,000 for another 120 days and the developer must have infrastructure improvements approved and confirmed one or more offers from businesses wanting to relocate.
Porter said at any time during the option the developer has the right to purchase the property for the appraised price of $12.4 million. Hefferin said they will conduct traffic studies and make any improvements necessary to facilitate traffic flow.
“In the last few months, the fairgrounds property has really picked up with people interested in it,” Porter said. “We’ve been working with Mr. Hefferin, E2L Realty, for a couple of months. He’s been up here several times and met with him. They’re wanting to take up an option to purchase the property just like we did with the previous company a year or so ago.”
In other business, the Putnam County Commission approved Monday night a memorandum of understanding (MOU) for the Town of Monterey’s Calfkiller Water Project. The commission also approved
