Staff recommends approval of the agreement for the sale of City owned property consisting of approximately 14,375 square feet in Section 25, Township 19, Range 24, and rescinding Resolution 8076, dated November 26, 2007.
In November 2007, the City of Leesburg and Peter Edwards entered into a contract for the purchase of City owned property adjacent to his commercial structure at 1408 E Main Street. At that time, staff presumed Mr. Edwards would purchase the entire parcel and that he was willing to pay the appraised value as determined by a City approved appraiser. Mr. Edwards commissioned an appraisal that returned a value of $5,000, substantially less than anticipated, and not accepted by the City. The City commissioned an appraisal of the property that determined a value of $85,000. This was much greater than had been anticipated by either party.
The City’s appraiser took Mr. Edwards comments, re-evaluated the site, and amended his original appraisal to a more equitable value of $32,000. Staff and Mr. Edwards then began a series of meetings and discussions about the absolute area necessary to expand the parking area and provide adequate stormwater retention for the Mr. Edwards’ commercial area. Mr. Edwards will require 14,375 square feet of this parcel in order to provide the necessary parking and stormwater retention. Staff tendered an offering price of $19,047.32 ($1.325 per sq.ft.), and Mr. Edwards counter offered $15,000.00 ($0.9583 per sq. ft.). Staff evaluated the offer and the significant defects on the property and believes this is a fair and equitable price for this property.
1. Adopt the Resolution authorizing the sale of the subject property; or
2. Such alternative action as the Commission may deem appropriate
This will provide a one-time infusion of cash into the General Fund of $15,000.00.
Prepared by: EF Smyth, DCM
Attachments: Yes____ No ______
Advertised: ____Not Required ______
Attorney Review : Yes___ No ____
Reviewed by: Dept. Head ________
Finance Dept. ________JB_______
Deputy C.M. _________EFS______
City Manager __________________
Account No. __001-0000-364-29-00
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA RESCINDING RESOLUTION 8076 DATED NOVEMBER 26, 2007, AUTHORIZING A CONTRACT WITH PETER EDWARDS TO PURCHASE CITY PROPERTY; AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A CONTRACT FOR SALE OF REAL PROPERTY WITH PETER EDWARDS FOR PURCHASE OF CITY OWNED PROPERTY IN SECTION 25-19-24 (EAST MAIN STREET)WITH LANGUAGE TO BE INCLUDED IN THE DEED TO PROHIBIT REMOVAL OF THE "HERITAGE OAK" WITHOUT PRIOR WRITTEN CONSENT OF THE SELLER; 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 Peter Edwards, whose address is 9475 Silver Lake Drive, Leesburg, Florida 34788, for the sale of approximately 14,375 square feet, lying in Section 25, Township 19, Range 24, for $ 15,000.00 based on the agreed comparable appraised value; and
THAT language will be included in the deed to prohibit removal of the “Heritage Oak” without prior written consent of the seller;
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 28th day of April 2008.