By JAN LARSON McLAUGHLIN
BG Independent News
The City of Bowling Green is looking at another land swap to help bring 200 jobs to Woodbridge Business Park on the northeast edge of the city.
The land trade involves the city exchanging acreage next to its solar field for acreage next to Woodbridge Business Park. On Monday evening, the Board of Public Utilities voted unanimously to make the swap.
Last month, City Council voted to sell 50 acres in the business park for $2.25 million to a company planning to bring 200 jobs to the community. But the city had to meet the terms of a previous land purchase agreement for the acreage.
The city has been planning for this type of growth in Woodbridge Business Park. In the spring of 2017, the city approved a land purchase agreement with Richard Carpenter to expand the park, located in the southeast corner of Dunbridge Road and Poe Road.
At that time, the city agreed to transfer 80 acres of farmland to Carpenter, who in turn transferred 20 acres of farmland to the city. The 20 acres were adjacent to the business park – making them much more valuable than the 80 acres next to the city solar field off Carter Road.
The city also entered a 10-year purchase option on the remaining 40 acres owned by Carpenter adjacent to the business park.
Scannell Properties, a development firm, has agreed to purchase a total 50 acres for $2,250,000, and Carpenter will be paid $1,425,000 for his 40 acres.
But Carpenter recently suggested another land trade in exchange for a portion of the cash purchase.
There are about 70 acres remaining at the city-owned farm property on Carter Road, west of the solar field. Farm property is currently selling for around $7,000 per acre. Carpenter has agreed to value the property at $7,500 per acre, which would equal $525,000. The remaining balance owed to Carpenter would be $900,000.
Bowling Green Public Utilities Director Brian O’Connell said he supports this land transfer since the 70 acres on Carter Road has no long-term benefit to the city. The property is too far away from the corporation limit to be annexed in the near future and the only utility available at the site is electric.
According to O’Connell, it is unlikely the city would use this property for a future solar field due to development costs to connect the site to the city’s electric transmission system.
There are other properties around the city that could be considered for future solar development and would be less likely to cause potential operational issues from excessive solar generation on one circuit.
About 10 acres of the 70-acre farm was used as a construction laydown area for the solar field. As a result, this area has compacted soils and yields lower crop production. The property also needs new drainage tile installed and the city had planned to budget $75,000 in the 2022 capital budget for this expense.
Carpenter is aware of these issues with the property, O’Connell said. The land swap would save the city the drainage tile expenses, he added.
The city would maintain access to the solar field from Carter Road. Also, the wildlife and pollinator habitat areas that were installed outside of the solar field would remain on city property.
Financially, this land swap could be used by the city for economic development purposes in the future, according to O’Connell. The net revenue would be $1,345,000. Without the land swap, the revenue to the city would be $820,000 or a difference of $525,000.
Some economic development options for use of the funds could be the following:
- The city still owes $200,000 towards the purchase of the Ross property at the east end of Woodbridge Business Park. A portion of these funds could be used to pay off this obligation.
- The Ross property would be more marketable if a road and utilities were extended to Carter Road. It is likely the funds would cover a large portion of this expense.
- Other options could include the purchase of additional land for business park development elsewhere.
