AGENDA MEMORANDUM

Meeting Date: January 22, 2007

From:                          Edward F. Smyth, Jr., Assistant City Manager

Subject:                      Resolution authorizing a Purchase Agreement with Neil J. Fischer, Jr. for the Purchase of Property Located in Section 22, Township 19, Range 25 of Hwy 441

Staff Recommendation:

Staff recommends approval of the attached resolution and agreement for the purchase of approximately 7,562.2 square feet located in Section 22, Township 19, Range 25.

Analysis:

Development between College Drive and Radio Road, south of U.S. Hwy 441, along with the widening of US 441, has increased traffic flow in this area and the hazards for the motoring public attempting to travel between businesses within this corridor.  Staff is proposing the extension of the travel corridor between Ruby Tuesday on the west, and Midas Muffler on the east.  Some of the area necessary has been acquired through dedication and developer agreement, while other portions will need to be purchased.

Mr. Fischer has agreed to sell a portion of two lots directly behind his  two commercial buildings, near the eastern end of the proposed project.  The property will be used for a section of the roadway, trail area, and stormwater retention.

In 2006, the City commissioned an appraisal of the property adjacent to Microtel.  That appraisal showed a land value of $15.00 per square foot. Mr. Fischer and staff agree the value determined from this appraisal is a fair and equitable amount for the subject property.  The total purchase price is $ 113,478.00.

Options:

1.  Adopt the Resolution authorizing the purchase of the subject property;

2.  Such alternative action as the Commission may deem appropriate.

Fiscal Impact: 

Funds are  available in the Capital Projects Fund / Public Works / Transportation line item of the current year budget.  The source of the funds is the 2004 General Fund Bond Issue.

Submission Date and Time:    1/18/2007 10:06 AM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                    Deputy C.M. ___________________                                          Submitted by: City Manager ______RS____________

Account No. __031-5112-541-61-10_ Project No. ___310051___________ WF No. ______390914 Job 2______ Budget  ______$113,478_________ Available _____$113,478_________

RESOLUTION NO._______________

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT WITH NEIL J. FISCHER, JR., TO PURCHASE PROPERTY LYING IN SECTION 22, TOWNSHIP 19 SOUTH, RANGE 25EAST; AND PROVIDING AN EFFECTIVE DATE.

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

            THAT the Mayor and City Clerk are hereby authorized to execute an agreement with Neil J. Fischer, Jr. whose address is 32436 Crystal Breeze Lane, Leesburg, FL 34788, for the purchase of approximately 7,562.2 square feet, lying in Section 22, Township 19, Range 25,  for $ 113,478.00 which is equal to the agreed upon comparable appraised value.

 THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _22nd____ day of _January________ 2007.

                                                                                    ______________________________

                                                                                    Mayor

ATTEST:

__________________________________

City Clerk