The MRRA is the first of the entities redeveloping former Navy bases closed in the 2005 Base Realignment and Closure process to begin paying back loans, Levesque said.
The early repayment will save the MRRA approximately
Quicker-than-expected economic development conveyances of former base property to the MRRA and the rate of redevelopment at Brunswick Land and
"We developed a very good working relationship with the Navy, so we were able to get things going very early," Levesque said. "We're getting property transfers probably quicker than other people. ... A lot of things came together, so we got a jumpstart on things."
To date, the Navy has transferred approximately 1,660 acres of the approximately 2,100 acres MRRA was due to receive for civilian reuse, according to Levesque's
MRRA has been conveyed 745 acres -- 68 percent -- of non-airport property and 971 acres -- 98 percent -- of airport land, Levesque wrote.
The authority has sold more than 300 acres and 27 buildings -- nearly 600,000 square feet.
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