Company:
US Army Corps of Engineers

Capitol CREAG Services:
Site Inspection
Market Survey
Appraisals / Valuation
Due Diligence
Space Programming / Program of Requirements
Market Analysis
Independent Estimates / Budget Estimates
Feasibility / Cost /Benefit Analysis
Public Private Ventures
Procurement Management
Contractual Services
Project Challenge

Project Challenge:
The Army Corps of Engineers needed to identify the highest and best use for underutilized land at Fort Knox under the Army’s Enhanced Use Lease (EUL) program. This assessment will be used to provide guidance for a developer solicitation and an Army ground lease valuation for the EUL development project. Due to the 2005 Defense Base Closure and Realignment Act, there will be an increase of 11,499 workers and their families by 2011. As this influx of people presents a challenge to the Fort Knox community, the Army Corps of Engineers needed a report providing solutions by analyzing uses for five (5) prospective sites at Fort Knox.

Project Scope:
In completing this analysis, Capitol CREAG followed the highest and best use methodology of the Department of the Army. Highest and Best Use is defined by the Department of the Army as “the reasonably probable and legal use of land or improved property that is physically possible, appropriately supported and financially feasible and results in the highest value.”

The Highest and Best Use Study is currently being utilized by Capitol CREAG to move forward with an Enhanced Use Lease (Public Private Venture) procurement. Information on the highest and best use of these five parcels is considered “procurement sensitive” prior to being released to the general public at the EUL Industry Forum.

In addition to drafting a highest and best use analysis, Capitol CREAG has been tasked to draft the Notice of Opportunity to Lease (NOL), oversee the entire EUL procurement process, conduct the industry forum, and oversee the lease negotiations for the project.