PLACEMENT: Old Business
TITLE:
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RECOMMEND APPROVAL OF A CONTRACT FOR ACQUISITION OF ALL OF BLOCK 8, OLYMPIA PLAT NO. 1, HOBE SOUND AND ADOPTION OF A RESOLUTION APPROVING AND ACCEPTING A WARRANTY DEED FROM MARC R. GAYLORD, P.A.
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EXECUTIVE SUMMARY:executive summary
This is a request for the recommendation of approval of a contract for the acquisition of all of Block 8, Olympia Plat No. 1 in Hobe Sound for stormwater purposes as part of a redevelopment project and adoption of a resolution approval and accepting a Warranty Deed from Marc R. Gaylord, P.A., a Florida corporation. The Hobe Sound Neighborhood Advisory Committee recommended approval on January 15, 2020.
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BACKGROUND/RELATED STRATEGIC GOAL:
Block 8, Olympia Plat No. 1 is located between SE Vulcan Avenue and SE Dixie Highway in Hobe Sound. The owner, Marc R. Gaylord, P.A., a Florida corporation, purchased the property in 2005 for $110,000. The Community Redevelopment Agency (CRA) has offered a purchase price of $60,000, as calculated in the attached appraisal. The purchase of this property is being funded by the CRA as part of a redevelopment project that will utilize the property for stormwater purposes and to assist in re-organizing the intersection. Specifically, these funds have been previously approved by the Hobe Sound NAC and the CRA Board for flood control projects in 2017, and were left after the flood control project on Lares was completed in 2018. The property will be titled to the County as it is surrounded by County Right of Way and following its utilization in the CRA stormwater project, this property will have no future redevelopment purpose and will be maintained by the County.
Real Property has verified title and there are no mortgages encumbering the premises.
LEGAL SUFFICIENCY REVIEW:
This item has been reviewed for legal sufficiency to determine whether it is consistent with applicable law, has identified and addressed legal risks, and has developed strategies for legal defensibility.
RECOMMENDED ACTION:
Move that the Agency approve the vacant land contract for the acquisition of all of Block 8, Olympia Plat No. 1 and recommend the purchase to the Board of County Commissioners.
FISCAL IMPACT:
N/A
DOCUMENT(S) REQUIRING ACTION:
N/A
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