2022 was a record-breaking year for the Fort Chaffee Redevelopment Authority, according to the organization’s annual report released Wednesday (Jan. 25). The report noted that 2022 property sales totaled $3.8 million, and returned 66 acres to taxable property.
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The Fort Chaffee Development Authority (FCRA) Board of Trustees approved the sale of two buildings in the Historic District at Chaffee Crossing to Monte Cervino Beverage of Colorado Springs, CO, for use as winery, cidery and coffee roasting business and tasting room during its regular meeting Thursday (Feb. 16, 2023).
Fort Chaffee continued to make improvements to the River Valley in 2022, with Executive Director and CEO Daniel Mann saying the Fort Chaffee Redevelopment Authority is the strongest it's been in its 25-year history.
The FCRA is the economic development project in Fort Smith behind Chaffee Crossing, and it released its 2022 annual report. One measure in the report shows more than $4 million in real estate taxes have been generated by property sold last year.