| One of the keys to the success of this
project was Keenan Development�s
structuring of the transaction,
returning lease income to the
Development Authority on an annual
basis and providing leased facilities
to FLETC. The Development
Authority, in turn, receives full
economic benefit and title
to the facilities. |
| |
Each year, tens of thousands of employees of
more than 70 federal agencies convene in
Brunswick, Ga., at the Federal Law
Enforcement Training Center (FLETC), a facility
developed through a unique public/private
venture among Keenan Development, the
Glynn County Development Authority and the
Glynn County Airport Commission.
Keenan Development was responsible for the
facility�s capital structure, design and construction,
as well as all aspects of commissioning,
quality assurance and quality control of this
$65 million, 500,000-square-foot complex. The
multi-phase development provides short- to
medium-term, hotel-type housing for FLETC.
Accommodations and furnishings are of exceptional
quality. The Training Center includes
conference rooms and study areas, exercise and weight training facilities, a swimming pool and
recreation areas. |
One of the keys to the success of this project
was Keenan Development�s structuring of the
transaction, returning lease income annually to
the Development Authority and providing
leased facilities to FLETC. The Development
Authority, in turn, receives full economic benefit
and title to the facilities.
Keenan Development assumed the role of at-risk
developer for a guaranteed day certain, dollar
certain delivery and as guarantor of the facilities�
lessor obligations. As is the case with all Keenan
Development projects, the Federal Law
Enforcement Training Center was completed on
time and within budget. |
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