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July 20, 2009 - Hail! Hail! The FOSET is here!

PARC has been talking about the Finding Of Suitability for Early Transfer (FOSET) for the last few years. In fact, we have talked about it so much, especially lately, that it might have sounded like a never-ending search for the lost city of El Dorado or the Holy Grail. At times, it has seemed like a never-ending search. The FOSET process has been underway for nearly 6 years, and its delivery will be over 2 years after the date we thought we would have it.

The FOSET is a legal document that allows the United States Air Force to transfer the last deed for former air base lands to PARC. A FOSET is required for the last deed because not all of the property to be transferred has been 100% cleaned or remediated of past contamination, stemming from use under the Air Force. The FOSET or its underlying documents have been reviewed by the New York State Department of Health, the New York State Department of Environmental Conservation, the United States Environmental Protection Agency, the United States Air Force, the Governor's legal and environmental advisors, and numerous other individuals. The FOSET contains safeguards in the form of stipulations on how the property may or may not be used, so that any remaining contamination will not present a danger to people or the environment. This has been stated and verified by all of these agencies.

In many ways, the FOSET is our Holy Grail - it will allow this last deed to be transferred to PARC, and as a result, buyers who are interested in the various parcels affected by the FOSET will be able to purchase their parcels and to create investments and jobs. Without the FOSET, PARC's mission would not be finished for many years. With the FOSET, it is expected that PARC will be able to wind down and go out of business over the next 12 months. Twenty-eight (28) of the thirty-three (33) parcels in this last deed already have buyers lined up, and even though they have had to wait many months longer than they anticipated, all are still prepared to honor their contracts.

PARC is pleased to announce that the FOSET is now complete (signed, sealed, and delivered), and we closed on the deed on July 17. This is a huge milestone for PARC. It allows us to proceed with the 28 sales transactions, and to implement our plan for taking PARC out to the end of its days.

On behalf of the PARC Board of Directors, we want to thank all the hard-working people in the Air Force Real Property Agency, the DEC, the DOH, the EPA, the Clinton County IDA, and the Governor's office, who have helped move this FOSET process along. Individuals at the highest levels of all these organizations have been involved directly and personally. Thank you again! The FOSET is a fine achievement for all of these folks, and a critical component of the redevelopment and reuse of the former Plattsburgh Air Force Base.



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