FCRA History

 

In 1995, the U.S. Department of Defense Base Realignment and Closure (BRAC) Commission recommended the permanent closure of Fort Chaffee. The federal government opted to lease 65,000 acres to the Arkansas Army National Guard to be used for training. The remaining 7,000+ acres were turned over to local communities for redevelopment. The Arkansas legislature formed the Fort Chaffee Redevelopment Authority in 1997 to oversee the development of the land with the primary goals of returning the property to the tax roles, replacing the 700 jobs lost when Fort Chaffee closed, creating residential developments with quality of life and recreational attractions. A marketing and branding campaign was created for “Chaffee Crossing” in 2009 and a real estate agent has been retained to handle all land sales offers and transactions.

 

FCRA is dedicated to ensuring this great opportunity reaches its full potential through the execution of a Master Land Use Plan. They are conscientious stewards of this resource and will ensure that the public receives the full market potential for the property. To accomplish this, guidelines are required to enhance and perpetuate property values, to manage the timing of land sales to coincide with supply and demands in the market, and to schedule efficient expansion of the infrastructure. In addition to economic stewardship, the natural resources of the area must be conserved and the history of the area must be honored in the new community.

 

FCRA Board Members believe that:


Chaffee Crossing has become a community where buildings hold their value over time, and a place where the older may be more valuable than the new. This will be a community where builders can be assured that subsequent builders will honor the investment they have made.

 


FCRA Structure

FCRA is a quasi-governmental sunset agency that submits to an annual public audit. A nine-member board of directors approves or rejects land and building purchase offers and oversees budgeting and personnel issues. The board meets monthly on the third Thursday of each month.

 

Subcommittees of the board meet as needed throughout the year. These include:

 

Once the independent auditors determine that the inventory of marketable land available for sale is depleted to the point that it can no longer sustain FCRA operations, the FCRA Board and its beneficiaries, the City of Fort Smith, the City of Barling and Sebastian County, must agree to dissolve the trust. All trust assets will then be allocated to the beneficiaries.

 


Click here to download the FCRA Bylaws

 

Click here to download the FCRA Indenture of Trust

Recent News


Jan 11, 2019

Chaffee Crossing-based Arkansas Colleges of Health Education president Kyle Parker gave some insight into the future developments planned for the campus. They include asking locals to help medical students fall in love with the community so they will stay and practice in the region after graduation.


Jan 11, 2019

In a Western Arkansas Intermodal Authority board meeting on January 9, 2019, executive director Mat Pitsch told the board the I-49 project is not dead even though a letter from ARDOT director Scott Bennett reports that the HNTB study determined tolling would not support the cost of constructing 13.5 miles of interstate and a new bridge across the Arkansas River between Chaffee Crossing and Alma, Arkansas.

"Looking at bigger projects, Pitsch told the board that ARDOT Director Scott Bennett had a study done on the feasibility of a bridge and a roughly 13-mile section of I-49 north of Fort Chaffee that would connect Highway 22 in Sebastian County and the I-40/I-49 interchange in Crawford County to be a toll system. The timing for that section of the interstate would have to be started within the next five years," he said.

“No one wanted to commit to a 13-mile section, but by doing it the way he did, he could see who might be interested in a toll contract on the highway without having to commit to starting the entire project,” Pitsch said. “It was a very smart way to do it. We don’t know if any of the (interstate) will be toll, but by using funds for the study, it was a commitment that construction on that section would have to be started within five years.”


Jan 10, 2019

Arkansas Colleges of Health Education announced plans to develop a healing garden and wellness park on their campus.


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