AGENDA MEMORANDUM
Meeting Date: July 23, 2007
From: Edward F. Smyth, Jr., Assistant City Manager
Subject: Resolution authorizing a Purchase Agreement with Individual Property Owners of the Summer Wind of Lake Harris Condominium Association, Inc.
Staff Recommendation:
Staff recommends approval of the attached resolution and agreement for the purchase of two parcels of approximately 2,176.729 square feet 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 proposes extension of the travel corridor between Ruby Tuesday on the west, and Midas Muffler on the east as a traffic alternative. Some of the area necessary has been acquired through dedication and developer agreement, and other portions have been purchased from individual property owners.
The individual property owners of Summer Wind on Lake Harris own proportional shares of the described properties located near the eastern end of the proposed project and all have agreed to the sale,. 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. Condominium Association Board of Directors and City staff agree the value determined from this appraisal is a fair and equitable amount for the subject property. The total purchase price is $ 32,650.95.
Options:
1. Adopt the Resolution authorizing the purchase of the subject property; or
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.
Submission Date and
Time: 9/24/2007 11:49 AM9/19/2007
3:58 PM____
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Department: Administration Prepared by: E.F. Smyth, ACM Attachments: Yes X No ______ Advertised: ____Not Required X Dates: __________________________ Attorney Review : Yes X No ____ Revised 6/10/04 |
Reviewed by: Dept. Head ________ Finance Dept. __________________ Deputy C.M. ___________________ Submitted by: City Manager ______ ____________ |
Account No. __31-5112-541.63-10__ Project No. ___310051___________ WF No. ______390914 Job 3______ Budget ______$ 32,650.95_________ Available _____$1,900,966_________ |
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 INDIVIDUAL PROPERTY OWNERS OF THE SUMMER WIND OF LAKE HARRIS CONDOMINIUM ASSOCIATION, INC., 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 Individual Property Owners of the Summer Wind of Lake Harris Condominium Association, Inc., whose address is Post Office Box 490630, Leesburg, Florida 34749 - 0630, for the purchase of approximately 2,176.729 square feet, lying in Section 22, Township 19, Range 25, for $ 32,670.00 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 __24th___ day of __September_______ 2007.
______________________________
Mayor
ATTEST:
__________________________________
City Clerk