R -- Shaw AFB Industry Forum CBD Announcement

Shaw Air Force Base in Sumter, South Carolina, is seeking a private developer for a significant real estate housing privatization project that involves the management, renovation, and construction of military housing on base. The project encompasses the conveyance of 1,702 existing housing units and related improvements, the demolition of 804 units, construction of 549 new units, and renovation of 464 existing units. Ultimately, the developer will be responsible for operating, maintaining, and managing a total of 1,447 units over a 50-year period. The Air Force plans to contribute leased land, real property, and improvements, and may provide up to $3 million in scored costs to support project financing. The selected developer will provide cash equity, secure private debt financing, and manage the overall operations of the housing project. An Industry Forum related to this initiative is scheduled to take place on October 22, 2002, at Shaw AFB, with a preceding Icebreaker event on October 21 at the Holiday Inn Sumter. These events will include detailed presentations on the financial and technical aspects of the project by representatives from the Air Force and Ernst & Young, the Privatization Support Contractor. Attendees will also have the opportunity to tour the housing communities involved in the project. Prospective participants or interested parties are encouraged to visit the project website for additional information and registration. The point of contact for this project is Jesse D. Barrera, Project Manager.