Escambia County has received a revised letter of intent from Navy Federal Credit Union for the purchase of a portion of the OLF 8 property in Beulah. This letter of intent to purchase 84 acres from Escambia County includes less frontage on 9-Mile road and less acreage overall (see illustration above). Additionally, the new LOI's offer to purchase is priced at the average of our two recently received appraisals on a per-acre basis. See the complete LOI below. The creation of a minimum of at least 300 additional jobs by NFCU at their Beulah campus will be an additional consideration required by the BCC for this sale to occur. I am hopeful we can get this transaction done in very short order.
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Page two of the doc, item number 12 specifically references the creation of 300 jobs.
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