Staff recommends approval of the attached resolution authorizing the execution of a Contract for Purchase and Sale for property owned by the Christian & Missionary Alliance Church.
The extension of Magnolia Street from 12th Street to U. S. Highway 27 is in the Capital Improvement Plan this year for right-of-way acquisition. This purchase of 38,812.56 square feet is adjacent to the former Atlantic Coast Line Railroad Right of Way, fronting on US Hwy 27. The purchase of this property will allow the Magnolia Street extension to be designed to intersect 14th Street at the traffic light at Leesburg High School.
The City is acquiring the triangular parcel north of the railroad ROW (adjacent to the Public Works site) to accommodate alignment of the Magnolia Street extension with the traffic signal at Meadows Avenue (entrance road to the Leesburg High School), and to accommodate adequate turning radius and apron onto Highway 27.
Pomeroy Appraisal Associates conducted an appraisal February 1, 2006, which found the value of the vacant land to be $8.50/sq.ft. This value is the basis of the purchase price (38,812 sq.ft. x $8.50/sq.ft. = $329,906.76). It should be noted that at the time the appraisal was conducted, the appraiser did not have benefit of a survey and used land dimensions based on Lake County plat maps. The actual land area is 21,027 sq.ft. larger than what was assumed in the appraisal document.
In addition to the primary parcel, the City is acquiring three additional parcels totaling 11,436 square feet and an easement of 7,077 square feet in exchange for construction of a small driveway apron from the Magnolia Street extension to the Church’s parking lot, master-planned stormwater retention that will accommodate runoff from the church’s future parking lot, and some design services for the parking lot improvements. The obligation for the stormwater retention is limited to the impervious surface area shown on a preliminary design the City completed and delivered. The total value of the land versus the exchanged services is $157,360.50.
1. Adopt the attached Resolution; or
2. Such alternative action as the Commission may deem appropriate.
The purchase price of this property is $329,906.76. This project is included in the list of bond funded projects approved in the Capital Improvement Revenue Bonds, Series 2004 issue.
Prepared by: E.F. Smyth, ACM
Attachments: Yes____ No X
Advertised: ____Not Required ______
Attorney Review : Yes X No ____
Reviewed by: Dept. Head ________
Finance Dept. ____wp______________
Deputy C.M. ___________________
City Manager _________RS__________
Account No. _031-5112-541-6310__
Project No. __310051___________
WF No. _____328039 __________
RESOLUTION NO. _____
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A CONTRACT FOR SALE AND PURCHASE BETWEEN CHRISTIAN & MISSIONARY ALLIANCE CHURCH, AS SELLER, AND THE CITY OF LEESBURG, AS BUYER; AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED by the City Commission of the City of Leesburg, Florida:
That the Mayor and the City Clerk are authorized and directed to execute a Contract for Sale and Purchase between Christian & Missionary Alliance Church, whose address is 218 South 14th Street and The City of Leesburg, Florida, in the form attached as Exhibit "A" to this resolution.
THIS RESOLUTION shall become effective upon its passage and adoption according to law.
PASSED AND ADOPTED at the regular meeting of the City Commission of the City of Leesburg, Florida, held on the _26th _ day of __February _________, 2007.
THE CITY OF LEESBURG