USACERL's Technical Reviews of Economic Development Conveyances. Lessons Learned.
CONSTRUCTION ENGINEERING RESEARCH LAB (ARMY) CHAMPAIGN IL
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A new property transfer method called an Economic Development Conveyance EDC has been implemented by the Secretary of Defense for installations scheduled for closure. This new method gives greater flexibility to military departments and affected communities to negotiate terms and conditions of the conditions if specified criteria are met. Since October 1994, the U.S. Army Construction Engineering Research Laboratories has provided technical reviews of the only three EDC application packages submitted to the Army for consideration. Army decision- makers use the findings resulting from these technical reviews for, among other things, the conveyance of surplus plus military property after base closures. This report includes discussions of relevant findings, accepted methodologies, and process improvements discovered as a result of the EDC application and review process experience. This study focuses primarily on the economic issues and the financial analysis necessary to determine feasibility of the reuse plan, including the following key elements 1 the rate used to discount the income streams from the applicants 15-year business plan 2 the valuation techniques used to estimate the Armys appraised fair market value and the applicants business plan scenarios 3 the risk assessment of the applicants overall redevelopment plan.
- Economics and Cost Analysis
- Logistics, Military Facilities and Supplies