2507 SHA/COS Contract for Sale of Real Estate (w/Reso 3129)GortCacts
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SANFORD HOUSING AUTHORITYXITY OF SANFORD
CONTRACT FOR SALE OF REAL ESTATE �l
THIS CONTRACT (the "Contract") for Sale is made on thisiay of e, 2 23 is made
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by and between:
Sanford Housing Authority, also known as Housing Authority of the City of Sanford,
Florida, a dependent special district of the State of Florida and a Florida body corporate
and politic established and operating pursuant to Chapter 421, Florida Statutes; with the
need declared by City Resolution Numbers 602 and 764, whose address is 120 Lexington
Green Lane, Sanford, Florida 32771 with a registered office address of 390 North Bumby
Avenue, Orlando, Florida 32803, hereinafter referred to as the "SHA";
AND
the City of Sanford, Florida, a municipal corporation, whose address is 300 North Park
Avenue, Sanford, Florida 32771, hereinafter referred to as the "City".
1. Purchase Contract. The City agrees to buy and the SHA agrees to sell the
Property described in this Contract.
2. Property. The real property to be sold consists of the following parcels:
(a). Address: 38 William Clark Court, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-503-0400-0000.
(b). Address: 71-74 William Clark Court, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-503-0200-0000.
(c). Address: 1000 Mulberry Avenue, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-503-0300-0000.
(d). Address: 1050 Mulberry Avenue, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-503-0100-0000
(e). Address: Lot 3, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-502-0000-003A.
(f). Address: Lot 5, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-502-0000-0050.
(Hereinafter collectively referred to as the "Properties" with the Seminole County Property
Appraiser Data Sheets for the parcels attached hereto as Composite Exhibit "A").
No Personal Property is included in the purchase and sale of the Properties provided for
in this Contract.
3. Purchase Price. The purchase price is $850,000.00.
4. Payment of Purchase Price. The City will pay the purchase price as follows:
(a). Earnest Money Deposit: Within 3 business days of full
execution of this Contract, the City shall deposit into escrow, to be held by
Stenstrom, McIntosh, Colbert & Whigham, P.A. (the "Escrow Agent"), the
sum of $2,500.00 as the earnest money deposit (the "Deposit"), to be held
by the Escrow Agent in a trust account under the terms of this Contract. The
Deposit shall be fully refundable to the City in the event that the City
terminates this Contract at any time prior to the expiration of the Due
Diligence Period and any extensions thereto or in the event of a SHA default
(hereinafter defined). At Closing, the Deposit shall be credited in favor of
the City as part of the sales price for the Properties.
(b). Fees Credits: The award of development services fees
credits in the total sum of $90,000.00 by the City to the SHA for development
by the SHA of the Castle Brewer Court parcels relative to areas
encompassing Mulberry Avenue to the west, Olive Avenue to the east, West
10th Street to the south, and West 8th Street to the north, all in accordance
with the provisions of the Development Order attached hereto as Exhibit
"B", and if not all credits are used for the Castle Brewer Court parcels, the
SHA may use such credits against other development services fees
incurred by the SHA.
(c). Cash Balance: At Closing of title, via wire(s) from a U.S.
financial institution, subject to adjustments at Closing, all wires being at the
cost of the City the additional sum of $757,500.00.
5. HUD Contingency. This Contract is conditioned upon the SHA obtaining
disposition approval from the United States Department of Housing and Urban
Development ("HUD"), which the SHA shall proceed diligently to obtain.
6. Time and Place of Closing. Provided that the City has not terminated this
Contract as provided herein, the City and the SHA shall close on or before 30 days
following the conclusion of the Due Diligence Period, subject to final approval by HUD of
the SHA's disposition application. The Closing will be held at the office of the Escrow
Agent with the maximized use of remote and electronic communications and
transmissions as may be feasible. Time is of the essence in the performance of this
Contract. The parties agree that they shall diligently and expeditiously pursue their
respective obligations set forth in this Contract.
7. Transfer of Ownership/Insurance, Costs, Etc. At the Closing, the SHA will
transfer ownership of the Properties to the City as set forth herein. The SHA will provide
to the City a proper deed and an adequate affidavit of title as well as all other documents
necessary to convey the Properties to the City as set forth herein. The City shall procure
issuance of a title insurance commitment, issued through the Escrow Agent acting as the
issuing agent ("Closing Agent") for a qualified title insurer agreeing to issue to the City
upon recording of the deed to the City, a fee owner's policy of title insurance (ALTA Form)
in the amount of the purchase price of the Properties at the cost of the SHA subject only
to the Permitted Exceptions (as hereinafter defined) and the so-called "Standard
Exceptions" contained on the inside jacket cover of the standard ALTA Form of
Commitment; said commitment shall provide that said Standard Exceptions will be
deleted by the title insurance company upon furnishing to the issuing agent a Lien,
Possession and Encumbrance Affidavit in the customary form (and the SHA agrees to
furnish such Affidavit at and as a part of the Closing) and a current survey and surveyor's
report (on the prescribed company form; said survey and surveyor's report to be furnished
by the City at the City's expense if the City elects to have a survey accomplished). The
City shall have until 15 business days from receipt of the Title Commitment within which
to review the Title Commitment and to notify the SHA of such reasonable written
objections as the City may have to matters set forth in the Title Commitment and the
survey which materially affect the feasibility of the contemplated use by the City as
deemed to exist by the City. In the event any such objections are made by either party,
the parties shall have a period of 30 days (or longer if so extended in writing by both
parties) from the receipt of the same in order to cure such objections. Failure to cure the
objections to the satisfaction of the other party shall give the objecting party the right to:
(1) Waive the title objections and close the sale and purchase; or (2) Terminate this
Contract, in which event all rights and obligations between the parties shall be null and
void. The search fees or Title Commitment fees and premium for the Title Insurance
Policy shall be paid at the Closing by the SHA. Any instrument, assurance or deposit
made or given in order to cure a defect in title shall be in such form, on such terms, under
such conditions and in such amount as may be reasonably required by the title insurance
company insuring title to satisfy said company sufficiently for it to ascertain and accept
the facts and/or omit (or insure over) any exception to title not permitted under this
Contract.
The SHA shall pay for:
(a). the cost of issuance of a commitment for an owner's policy of title
insurance for the Properties in favor of the City and the premium for the
owner's policy; and
(b). Deed taxes, transfer taxes and/or documentary stamp tax assessed
against the deed from the SHA to the City, if applicable; and
(c). Any "special assessment" or "roll back" taxes resulting from the SHA
having assessed the Properties as commercial or other "current use"
valuation, if any; and
(d). Any and all legal fees of the SNA.
Further, the SHA shall provide, to the extent in its possession, a copy of any and all
previous surveys or other diligence related to the Properties to the City, though the City
shall be responsible for costs related to any updates to such diligence.
The City shall pay for:
(a). Costs of its due diligence; and
(b). The cost of recording the deed; and
(c). Any and all legal fees of the City.
The City and the SHA shall prorate real property taxes, if any are due, and tax
assessments, if any are due, for the calendar year in which Closing occurs.
8. Type of Deed; Representations of the SHA; Closing Documents. The SHA
agrees to provide and the City agrees to accept a statutory warranty deed which includes
the covenant of further assurance and with a covenant as to the SHA's acts and as
necessary to vest insured title in the City, The SHA agrees to convey title to the Properties
free and clear of all liens and leasehold interests (except Permitted Exceptions and those
liens which can be and shall be removed at Closing) and that it can convey the same
without the joinder of any other persons or entities. The SHA has no notice or information
of any litigation or administrative proceeding threatened or pending against the Properties
or the SHA's interest in it. The SHA shall not, without the consent of the City, execute any
easements or restrictions or otherwise take or permit any action that would constitute an
exception under the Surveys, Title Commitment or Title Policy, or any other matter. The
parties further agree to execute and deliver such other documents at Closing as are
typical in a real estate transaction.
9. Personal Property and Fixtures. The is no personal property located on
the Properties.
10. Physical Condition of the Properties. The Properties are being sold "AS IS"
and "WHERE IS" WITH NO WARRANTIES, EITHER EXPRESS OR IMPLIED,
INCLUDING NO WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE. The SHA makes no representation of any type, either express
or implied, as to the physical condition or history of the Properties. By accepting the
Properties as provided herein, the City waives all claims against the SHA for any defects
relating to the condition of the Properties.
11. Inspection of the Properties.
(a) The City shall have the right to enter upon the Properties and perform and
complete all due diligence with respect to the Properties (i.e.: boundary survey,
wetlands survey, geotechnical, feasibility study, etc.) or any other report that the
City deems necessary and appropriate in City's sole and absolute discretion. The
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City shall have the right to terminate this Contract at any time during the period
commencing on the effective date of this Contract and ending on the date that is
not more than 6 months thereafter (the "Due Diligence Period"). The City
represents and warrants to the SHA that the City has had and will have, pursuant
to this Contract, an adequate opportunity to make such legal, factual, and other
inquiries and investigations as it deems necessary, desirable or appropriate with
respect to the Properties, EXCEPT FOR THE SHAS REPRESENTATIONS
CONTAINED IN THIS CONTRACT, THE CITY EXPRESSLY ACKNOWLEDGES
THAT IT IS SPECIFICALLY RELYING UPON ITS OWN INSPECTIONS AND
INVESTIGATIONS IN MAKING ITS DETERMINATION TO ACQUIRE THE
PROPERTIES. The City further acknowledges that it is relying upon the
conclusions and advice of its own experts, consultants, and professionals in
evaluating the feasibility and desirability of the Properties for the City's use and
that of the availability of the rights to investigate and inspect the Properties.
(b) If the City or the City's representatives cause any changes in the physical
condition of the Properties as a result of such investigation and analysis, the City
shall restore the Properties to their condition existing immediately before the City's
entry upon the Properties in a timely manner, but in no event more than fourteen
(14) days from the completion of its inspections, and the City shall indemnify,
defend, and hold harmless the SHA against and from, all claims, demands,
liabilities, losses, damages, costs, and expenses, including reasonable attorneys'
fees and disbursements (collectively, "Claims"), arising from any bodily injury,
property damage or construction lien claim caused by the City or the City's
representatives in connection with entry on the Properties by the City, which
indemnity and defense obligations shall survive the termination of this Contract. If
the SHA makes a Claim prior to the disbursement of the Deposit, notwithstanding
anything to the contrary set forth in this Contract, during the pendency of any
Claims, the Deposit shall not be released to the City but shall continue to be held
as provided in this Contract until such Claims have been resolved or adjudicated
and the SHA may collect upon any award or judgment from the Deposit. A
representative of the SHA shall have the right to be present when the City or its
representatives conducts its or their investigations of the Properties.
(c) Without the SHA's prior written consent, which consent may be withheld in
the SHA's sole discretion, the City shall not drill any test wells or engage in any
other invasive testing or sampling of the Properties.
(d) With regard P+iof to entering onto the Properties, or causing its agents to
enter the Properties, the City shall ensure that its coverage under a Florida League
of Cities insurance program is fully in place and also that the City's required levels
of insurance are provided by all City vendors entering the Properties.
12. Building and Zoning Laws. The Properties are acquired with the City well
knowing that the Properties are subject to the provisions the City of Sanford's Land
Development Regulations/Land Development Code as well as an array of other land
development regulations including, but not limited to, historic preservation areas.
13. Termite Inspection/Radon Gas/Mold/Condition Of The Properties (Flood
Zone, Energy And Lead -Based Paint/Defective Construction). The City shall evaluate
all matters including, but not limited to, termite inspections, radon gas analysis, mold
evaluations, flood zone conditions, energy efficiency, lead-based paint presence and
defective construction, during the inspection period. The SHA shall have no obligation
relating thereto. The Federal and State governments have designated certain areas as
"flood areas". This means they are more likely to have floods than other areas. The City
will evaluate these, and any and all other matters during the inspection period.
14. Intentionally Deleted.
15. Ownership. The SHA agrees to transfer and the City agrees to accept ownership
of the Properties free of all claims and rights of others except for:
(a) the rights of utility companies to maintain pipes, poles, cables and wires
over, on and under the street, the part of the Properties next to the street or running
to any house or other improvement on the Properties; and
(b) recorded agreements which limit the use of the Properties, unless the
agreements: (1) are presently violated; (2) provide that the Properties would be
forfeited if they were violated; or (3) unreasonably limit the normal use of the
Properties as contemplated by the City.
16. Correcting Defects. If the SHA does not comply with Section 15 of this
Contract, the SHA will be notified and provided with 30 days to make it comply. If the SHA
still does not comply after that date, the City may cancel this Contract or give the City
more time to comply.
17. Risk of Loss. The SHA is responsible for any damage to the Properties,
except for normal wear and tear until the Closing. If there is damage, the City may proceed
with the Closing and require that the SHA repair the damage before the Closing.
18. Cancellation of Contract. No additional provisions.
19. Assessments for Municipal Improvements. Certain municipal improvements
such as sidewalks and sewers may result in the municipality charging property owners to
pay for the improvement. All unpaid charges (assessments) against the SHA for work
completed before the Closing and which are not paid in installments as a portion of the
regular annual real property taxes will be paid by the SHA at or before the Closing. If the
improvement is not completed before the Closing, then only the SHA will be responsible.
If the improvement is completed but the amount of the charge (assessment) is not
determined, the SHA will pay an estimated amount at the Closing. When the amount of
the charge is finally determined, the SHA will pay any deficiency to the City (if the estimate
proves to have been too low), or the City will return any excess to the SHA (if the estimate
proves to have been too high).
20 Adjustments at Closing. The SHA and the City agree to adjust the
following expenses, if any there are, as of the Closing date: electric services, water
charges, sewer charges and taxes.
21. Possession. At the Closing the City will be given sole and exclusive
possession of the Properties. No tenant will have any right to the Properties unless
otherwise agreed in this Contract.
22. Complete Contract. This Contract is the entire and only agreement
between the SHA and the City. This Contract replaces and cancels any previous
agreements between the SHA and the City. This Contract can only be changed by an
agreement in writing signed by both the SHA and the City. The SHA states that the SHA
has not made any other contract to sell the Properties to anyone else.
23. Remedies Upon Default.
(a). If the purchase and sale of the Properties contemplated hereby is not
consummated in accordance with the terms and conditions of this Contract due to
circumstances or conditions which constitute a default by the City hereunder, the SHA's
sole and exclusive remedies hereunder shall be the payment of a $500.00 payment by
the City to the SHA in addition to the SHA retaining the Deposit.
(b). In the event of a default by the SHA under the terms of this Contract that is
first discovered by the City prior to the Closing and is not cured by the SHA as provided
hereunder, the City's remedies hereunder shall be the right to terminate this Contract and
receive the return of the Deposit and a payment by the SHA to the City of $500.
24. Parties Liable. This Contract is binding upon all parties who sign it and all
who succeed to their rights and responsibilities. The signatories to this Contract represent
that they have the authority to execute this Contract and bind the respective parties hereto
as set forth in this Contract.
25. Notices. Any notices, requests, demands, tenders, and communications
hereunder shall be in writing and may be served (i) by depositing same in the United
States mail, addressed to the party to be notified, postage prepaid and registered or
certified with return receipt requested; (ii) by recognized overnight, third party prepaid
courier service (such as FedEx); (iii) by delivering the same in person to such party; or
(iv) by successful transmission by electronic mail or telecopy. Any notice or other
communication mailed as aforesaid shall be deemed effectively given on the date and
time of delivery if personally delivered or sent by electronic transmission or telecopy, on
the date and time delivered if sent by courier service, or on the date and time indicated
on the return receipt if mailed. Either party may change its address for notices by giving
notice to the other as provided below.
The addresses for notices are as follows:
If to the City:
If to the SHA:
Lonnie N. Groot, Esquire
Igroot@stenstrom.com
Stenstrom, McIntosh, Colbert & Whigham, P.A.
300 International Parkway
Suite 100
Lake Mary, Florida 32746
Bernice S. Saxon, Esquire
bsaxon@saxongilmore.com
Saxon Gilmore & Carraway, P.A.
201 E. Kennedy Blvd.
Suite 600
Tampa, FL 33602
26. Additional Provisions. The provisions of this Contract shall bind and
inure to the benefit of the heirs, personal representatives, successors, and assigns of the
parties. This Contract shall be governed by, and construed and enforced in accordance
with, the laws of the State of Florida. In connection with any litigation, including, but not
limited to, appellate proceedings, arising out of this Contract, the prevailing party shall be
entitled to recover all legal charges, expenses, costs and reasonable attorneys' fees.
Venue for any dispute shall be in the Eighteenth Judicial Circuit Court in and for Seminole
County, Florida. The section headings herein contained are inserted for convenience of
reference only and shall not be deemed to be a part of this Contract; they shall be ignored
in construing this Contract. The fact that one of the parties may be deemed to have drafted
or structured any provision hereof shall not affect the interpretation of this Contract and
this Contract is the result of bona fide arm's length negotiations by and between the
parties and, accordingly, the fact that one or another party drafted this Contract, or any
part of it, shall not be considered in construing the particular provision either in favor of or
against such party. Both parties have contributed substantially and materially to the
drafting of this Contract. This Contract may be executed by the parties in any number of
counterparts, each of which shall be deemed an original, and all such counterparts shall
be deemed one and the same Contract. In the event this Contract is executed in
counterparts, the effective date of this Contract shall be determined with reference to the
date of the last execution of any of the counterparts.
27. Brokers and Commission. The City and the SHA each represent and
warrant to the other that neither has employed, retained or consulted any properly
licensed Florida real estate broker, agent, or finder in carrying on the negotiations in
connection with this Contract or the purchase and sale referred to herein, and subject to
applicable law regarding sovereign immunity, the City and the SNA shall each indemnify
and hold the other harmless from and against any and all claims, demands, causes of
action, debts, liabilities, judgments and damages (including costs and reasonable
attorneys' and paralegals' fees suffered or incurred in connection with the enforcement of
this indemnity, whether or not an action is commenced, whether incurred before, during
or after trial, or upon any appellate level, or in arbitration, mediation, any administrative
proceeding or any proceeding in bankruptcy or insolvency,) which may be asserted or
recovered against the indemnified party on account of any brokerage fee, commission or
other compensation arising by reason of the indemnitor's breach of this representation
and warranty. This provision shall survive the Closing of the transaction addressed herein.
28. Covenant and Release. The SHA and its successors and assigns, of
each and every type or nature, hereby fully and forever, irrevocably and unconditionally
release, remise, discharge, and acquit the City and its officers, officials, employees,
successors and assigns, whether present, future or former, from any and all claims,
demands, actions and causes of actions, lawsuits, defenses, judgments, claims for costs,
attorneys' fees, damages, losses, and expenses of any kind or nature whatsoever in law
or equity, whether known or unknown, direct or consequential, foreseen or unforeseen,
matured or un -matured, developed or undeveloped, discoverable or undiscoverable, that
the SHA has, may have or might claim to have against the City arising out of or relating
to any matter occurring before the effective date of this Contract relative to the Properties.
This provision shall survive the Closing of the transaction addressed herein; provided,
however, that the SHA shall execute a document at Closing satisfactory to the City to
further provide for a full and plenary release of the City. Likewise, the City and its
successors and assigns, of each and every type or nature, hereby fully and forever,
irrevocably and unconditionally release, remise, discharge, and acquit the SHA and its
officers, commissioners, employees, successors and assigns, whether present, future or
former, from any and all claims, demands, actions and causes of actions, lawsuits,
defenses, judgments, claims for costs, attorneys' fees, damages, losses, and expenses
of any kind or nature whatsoever in law or equity, whether known or unknown, direct or
consequential, foreseen or unforeseen, matured or un -matured, developed or
undeveloped, discoverable or undiscoverable, that the City has, may have or might claim
to have against the SHA arising out of or relating to any 'matter occurring before the
effective date of this Contract relative to the Properties. This provision shall survive the
Closing of the transaction addressed herein; provided, however, that the City shall
execute a document at Closing satisfactory to the SHA to further provide for a full and
plenary release of the SHA.
29. Assignment. The City may not assign, transfer or convey all or any part of
its rights and interests hereunder without the prior written consent of the SHA which may
be withheld in the SHA's sole discretion.
30. Waiver of Jury Trial. The SHA and the City, to the extent they may legally
do so, hereby expressly waive any right to trial by jury of any claim, demand, action, cause
of action or proceeding arising under or with respect to this Contract and irrespective of
whether sounding in contract, tort or otherwise. Either party may file an original
counterpart or a copy of this Paragraph with any court as written evidence of the consent
of the other party to waiver of its right to trial by jury.
31. Use by City. The City agrees that the Properties will be used for community
amenities which will be community multipurpose fields. The SHA shall have a right of first
refusal should the City decide to sell the Properties. The terms of the right of first refusal
will be included in the Deed from the SHA to the City.
SIGNED AND AGREED: (SIGNATURE PAGES FOLLOW):
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SELLER: SANFORD HOUSING AUTHORITY,
also known as Housing Authority of the City of
Sanford, Florida, a dependent special district of
the State of Florida and a Florida body corporate
and politic established and operating pursuant
to Chap 4 1, ,Florida Statutes
By:
Vivian Bryant, President/C
- 32
Date
Attest.
By:
Signature
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Print6d Warne
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Title�
Date
ADDITIONAL SIGNATURE PAGE FOLLOWS:
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Attest: BUYER: CITY OF SANFORD, a
municipal corpgra/oy-� A
ju LNC dkt0kV- A W,I
Traci Houchin, MMC, FCRM
City Clerk
Approved as to form and legal s
City Attorney
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12
COMPOSITE EXHIBIT "A"
SEMINOLE COUNTY PROPERTY APPRAISER DATA SHEETS
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CITY COMMISSION MEMORANDUM 23-092
MAY 8, 2023 AGENDA
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WS_ RM X
Item No %.R
To: Honorable Mayor and Members of the City Commission
PREPARED BY: Craig Radzak, Assistant City Manager ,�
SUBMITTED BY: Norton N. Bonaparte Jr., ICMA-CM, Cit ani er
SUBJECT: Purchase of Sanford Housing Ali„ thority (SH Property For Future
Recreational Uses; Budget Amendment Resolut/No. 2023-3129
STRATEGIC PRIORITIES:
❑ Unify Downtown & the Waterfront
® Promote the City's Distinct Culture
❑ Update Regulatory Framework
® Redevelop and Revitalize Disadvantaged Communities
SYNOPSIS:
Approval of the purchase of parcels of real property from the Sanford Housing Authority (SHA)
totaling 7.97 acres is proposed.
FISCAL/STAFFING STATEMENT:
The purchase price totals $760,000. As part of the negotiations, the City agreed to award the SHA
development services fee credits in the total sum of $90,000 for the future housing development of
the Castle Brewer Court parcels with boundaries of Mulberry Avenue to the west, Olive Avenue to
the east, West 10th Street to the south, and West 8th Street to the north. The award of credits
reduces the cash outlay for the City.
Funding is available to implement this real property acquisition in the Recreation Impact Fee Fund.
BACKGROUND:
The subject vacant property is located in Historic Goldsboro consists of six parcels which are
assigned the following Seminole County Tax Parcel Identification Numbers and are addressed as
follows:
(1). Address: 38 William Clark Court, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-503-0400-0000.
(2). Address: 71-74 William Clark Court, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-503-0200-0000.
(3). Address: 1000 Mulberry Avenue, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-503-0300-0000.
(4). Address: 1050 Mulberry Avenue, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-503-0100-0000
(5). Address: Lot 3, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-502-0000-003A.
(6). Address: Lot 5, Sanford, Florida 32771,
Tax Parcel Identification Number: 26-19-30-502-0000-0050.
The City caused the property to be appraised twice due to its value.
The appraisal completed in December 2021 was accomplished by Gregory Vella and Scott Tew
State -Certified General Real Estate Appraisers, of Valbridge Property Advisors which is located in
Orlando. This appraisal concluded that the property was valued at $650,000. However, only 7.19
acres were considered.
The appraisal accomplished in July 2022 was issued by Donald P. Oehlrich, MAI, Senior
Managing Director, State -Certified General Real Estate Appraiser of the appraisal firm of RE
Property Advisors which has offices in Port Orange, Orlando, Daytona Beach and Melbourne. This
appraisal concluded that the property was valued at $880,000 which considered the entire 7.97
acres.
Both appraisals are available in the City Clerk's office for review upon request.
After approximately a year of negotiations, the parties agreed to the sale price of $760,000.
However, because of the higher value from the July 2022 appraisal, the SHA felt that development
services fee credits should be awarded for the future development of the former Castle Brewer
Court sites.
Closing costs will be normative and the City will pay the cost of recording the deed, and the SHA
shall pay for cost of issuance title insurance, deed taxes, transfer taxes and documentary stamp
taxes.
The property, upon acquisition, will be used for future recreational use consisting of multi-purpose
fields, an 8 -lane running track, concession stand structure with restroom and storage, with
approximately 182 parking spaces and a future playground. The plans also call for a street
connection to the Dr. Velma Williams Westside Community Center to augment activities at this
facility.
This action will require that the City Commission approve a Budget Resolution and authorize the
City Manager, or designee, to close on the property and implement Development Order 23-28
relating to the credits being awarded to the SHA.
LEGAL REVIEW:
The City Attorney's office has assisted in this matter and has no legal objection to the purchase of
the real property or the method of implementation.
RECOMMENDATION:
City staff recommends that the City Commission approve Budget Resolution No. 2023-3129;
authorize the purchase of the subject real property for $850,000 from the SHA, and authorize the
City Manager, or designee, to close on the property and implement Development Order 23-28.
SUGGESTED MOTION:
"I move to approve Budget Resolution No. 2023-3129 and authorize the purchase of the subject
real property from the SHA all as proposed."
Attachments: (1).
Contract for sale of real estate.
(2).
Development Order No. 23-28 relating to development services fee credits.
(3).
Seminole County Property Appraiser records print outs.
(4).
Preliminary design of future use.
(5).
Executed Letter of Intent.
(6).
Budget Amendment Resolution No. 2023-3129
(7).
Budget amendment form.