Title:
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Approve and authorize the Chairman to execute a Purchase Agreement for the acquisition of the office building located at 1016 Spring Villas Point, Winter Springs, Florida consisting of approximately 12,140 square feet on 1.02 acres, in the amount of $3,700,000 for Utilities Department office space; authorize the County Manager to execute ancillary documents necessary to complete the transaction; and execute a Resolution implementing Budget Amendment Request (BAR) #26-030 in the Water and Sewer Fund to transfer $4,000,000 from reserves. District1 - Dallari (Stephen Koontz, Assistant County Manager) Requesting Department-Utilities
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Division:
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Administrative Services-Real Estate
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Authorized By:
Stephen Koontz, Assistant County Manager
Contact/Phone Number:
Shane Fischer/407-665-7414
Background:
The County has identified the office building located at 1016 Spring Villas Point, Winter Springs, Florida, for acquisition to provide office space for the Utilities Department in a County-owned facility rather than continuing to lease space. The approximately 12,140 square foot, two-story building sits on approximately 1.02 acres and provides sufficient capacity for approximately 45 staff. The property is strategically located near the Southeast Regional Water Treatment Plant, supporting operational efficiency and coordination for Utilities Department functions. The building is substantially move-in ready and partially furnished, reducing the need for significant upfront improvements or buildout costs.
The initial asking price was $3,900,000, and the property appraised at $3,500,000. Staff negotiated a purchase price of $3,700,000 and recommends proceeding with the acquisition because the overall costs remains significantly lower than constructing a comparable facility on County-owned property or incorporating Utilities Department office space in the proposed County Administration Building at the 5 Points Complex.
The requested Budget Amendment Request exceeds the purchase price in order to cover additional expenses including moving expenses, furnishings, County network connectivity, and due diligence expenses.
Seminole County Parcel Identification Number: 24-21-30-503-0000-0020. Commonly known as: 1016 Spring Villas Pt, Winter Springs, FL 32708.
Water and Sewer Fund Reserves are currently budgeted at $58.3 million.
Requested Action:
Approve and authorize the Chairman to execute a Purchase Agreement for the acquisition of the office building located at 1016 Spring Villas Point, Winter Springs, Florida, consisting of approximately 12,140 square feet on 1.02 acres, in the amount of $3,700,000 for use as Utilities Department office space; authorize the County Manager to execute ancillary documents necessary to complete the transaction consistent with the Board’s approval; and execute a Resolution implementing Budget Amendment Request (BAR) #26-030 in the Water and Sewer Fund to transfer $4,000,000 from reserves.