The City owns 22.27 acres of property located at the southwest corner of Jetport Drive and Daetwyler Drive, just south of the Beachline Expressway (Hwy 528) (“McCoy Parcel”), in the former Orlando Naval Training Center McCoy Annex, which was conveyed to the City pursuant to the Memorandum of Agreement by and between the United States and the City for the Economic Development Conveyance of Properties on the Main Base and McCoy Annex Areas of the Naval Training Center, Orlando, Florida (“MOA”).  Additionally, the City holds title to 20.05 acres on Andes Avenue north of Highway 408 (“Herndon Parcel”), at the former Herndon Annex, which the Greater Orlando Aviation Authority (“Aviation Authority”) operates pursuant to the Operation and Use Agreement between the City and Aviation Authority.  The deed of conveyance for the Herndon Parcel contains restrictions and covenants restricting the use of the property to public airport purposes.  Additionally, the Herndon Parcel is encumbered with grant assurances as a result of Aviation Authority’s operation of the property. 

The City and Aviation Authority desire to exchange properties with the Aviation Authority obtaining use of the McCoy Parcel and the City obtaining use of the Herndon Parcel.  The properties have been appraised and surveyed to determine an even exchange based on value of the properties.  In order to effectuate such exchange, the restrictions and grant assurances must be removed from the Herndon Parcel via the attached Release of Deed Restrictions and Deed of Release and restrictions re-imposed on the McCoy Parcel via the attached Deed of Restrictions.   Because the parcels were conveyed to the City via the Navy, the City and Navy must execute an amendment to the MOA addressing the terms regarding the release and re-imposition of restrictions.  Additionally, the attached Memorandum of Understanding between the City and Aviation Authority outlines the terms under which the exchange of uses will occur.