Master Developer For Approximately 240 Acres At Waco Regional Airport

The City of Waco is requesting sealed proposals for a master developer to plan, finance, lease, market, operate, manage, and maintain an airport-compatible development on approximately 240 acres at Waco Regional Airport, with proposals due September 15, 2026 at 2:00 p.m. Central Time and a non-mandatory pre-proposal conference and controlled site tour on August 19, 2026.

Acceptable uses include aircraft maintenance and manufacturing, aerospace and advanced manufacturing facilities, air cargo and logistics operations, flight training, office and commercial uses supporting the development, and utility or sustainability infrastructure. Residential uses and uses creating incompatible concentrations of people are not acceptable unless expressly approved. The City retains fee title unless separately authorized otherwise.

Proposers must demonstrate financial capacity through audited financial statements for the most recent three fiscal years and provide a financial offer identifying ground rent by phase, escalation, minimum annual payments, and any revenue participation. The development agreement contemplates an initial ground lease term of up to 40 years with up to two additional five-year renewal options, subject to negotiation, the nature of improvements, financing requirements, City Council approval, and FAA requirements. Development must be completed in multiple phases over a maximum of 15 years from the effective date of the master development agreement. Final compensation must be supportable as fair market value and consistent with Airport revenue requirements.

Evaluation criteria are development and operations experience (20 points), financial capacity (20 points), property management (10 points), asset management (10 points), collaboration experience with airports (15 points), community engagement experience (10 points), and proposed timeline (15 points). Questions are due September 4, 2026 at 5:00 p.m., with a final addendum targeted for September 7, 2026. Evaluation will occur September through October 2026, with interviews and presentations potentially conducted in October. Anticipated selection and City Council authorization is expected October through November 2026. Proposers must register with the Texas Secretary of State, obtain professional liability insurance of $3 million, and comply with HB 89 energy and firearms certifications, HB 1295 certification of interested parties, and foreign terrorist organization verification. Proposals must remain valid for 180 days after submission.