Indianapolis Airport Authority land auction returns more than 320 acres back to the tax rolls
100% of airport property is sold during successful weekend auction
INDIANAPOLIS – Our community speaks and we listen. The Indianapolis Airport Authority (IAA) continues to honor its promise to give land back to the people we serve, one of the few airports in the country returning land to our community’s property tax rolls. This past weekend, the IAA had great success with a land auction that put more than 320 acres of property back into productive use. 100% of the tracts, located in Marion and Hendricks counties, sold in just a couple of hours during the Saturday morning auction at The Palms in Plainfield.
The land, which was determined to no longer be needed for use by the Indianapolis International Airport (IND), was sold to a variety of bidders for nearly $3 million dollars. Land auctioned included potential development land, productive farmland, residential building lots and industrial/commercial sites. Schrader Real Estate and Auction Company, in cooperation with Colliers International, conducted the weekend auction.
“We are extremely pleased with the results of the auction,” said Mario Rodriguez, IAA executive director. “Land is back in the hands of those who can put it to good use and back on the tax rolls. Plus, the proceeds will help us maintain IND, the best airport in North America, for many years to come. Everyone is a winner.”
The benefits to area communities will be both immediate and long-term: the “Land only” tax benefit is estimated at $75,000 of additional annual tax dollars with an additional value of $200,000 in tax benefit for every investment of $10,000,000 in improvements placed upon the Land.
The IAA believes IND is our community’s airport and returning land can help create jobs, increase property taxes for our neighbors and support area schools. Other recent initiatives include Memorandums of Understanding (MOUs) to eventually transfer nearly 2,000 acres of conservation land to the Hendricks County Park Board and the Town of Plainfield. A similar MOU with the City of Fishers was approved last month to make land at Metropolitan Airport available for non-aviation economic development opportunities.
The IAA is also considering proposals submitted for the development of land near the site of the old airport terminal. A final selection will likely be announced early in 2016.
About the Indianapolis Airport Authority
The Indianapolis Airport Authority owns and operates Indiana’s largest airport system. In addition to the Indianapolis International Airport, its facilities include the Downtown Heliport, Eagle Creek Airpark, Hendricks County Airport, Indianapolis Regional Airport and Metropolitan Airport. IND has received numerous prestigious awards recognizing it as a leader within its class, including best airport in North America in 2010, 2012, 2013 and 2014 in Airports Council International’s annual Airport Service Quality awards. It has also been inducted into the ACI Director General’s Roll of Excellence, one of the few U.S. airports to be included in this elite group of worldwide airports. IND is the first airport in the U.S. to win LEED® certification for an entire terminal campus. LEED is a green- building award for Leadership in Energy and Environmental Design. IND has won additional recognition for excellent customer service, concessions programs, and art and architecture.
IND generates an annual economic impact in Central Indiana of more than $4.5 billion without relying on state or local taxes to fund its operations. About 10,000 people work at the airport each day. IND serves more than 7 million business and leisure travelers each year and averages 140 daily flights, seasonally and year-round, to 41 nonstop destinations. Home of the world's second-largest FedEx Express operation and the nation’s eighth- largest cargo facility, IND is committed to becoming the airport system of choice for both passenger and cargo service. For more information, visit IND’s Facebook page at Indianapolis International Airport and Twitter page at @INDairport.