The City of Westfield has obtained two appraisals for the Grand Park Sports Complex as officials consider selling the park or entering into a public-private partnership.
Integra Realty Resources, based in Indianapolis, appraised the 387.75-acre parcel for $80 million, while a second appraisal by Charles R. Mills Jr. was for $90 million, according to the city.
The Westfield Redevelopment Commission, which owns the complex, released a request for proposals in March seeking companies interested in purchasing Grand Park or operating the campus through a public-private partnership. The minimum price for Grand Park is the average of the two appraisals, city spokesman Chris Proffitt said.
A total of 16 entities met an April deadline to submit an intent to bid on Grand Park, according to the city. Once bids are received by an Aug. 8 deadline, they will be reviewed by an independent committee.
The committee will be made up of five appointments made by Mayor Andy Cook and will also include a recommended Westfield City Council nominee.
After the panel reviews bids, it will then provide a recommendation to the Westfield Redevelopment Commission and to the Westfield City Council. Both entities will vote on either a buyer or operator of Grand Park or choose not to sell the campus, which opened in 2014.
Grand Park, which serves as the training camp for the Indianapolis Colts, has 31 soccer fields, 26 baseball diamonds, two administration buildings, seven concession stands and a 378,000-square-foot multi-use event center.
If Westfield were to sell Grand Park, city officials previously said they would use the proceeds to pay off park debt. The city still owes nearly $80 million for the complex.