Title:
title
Approve and authorize the Chairman to execute a contract for the sale and purchase of land for the WB Equestrian property in the amount of $9,555,000; and execute the associated Resolution implementing Budget Amendment Request (BAR) #24-080 in the 2014 Infrastructure Sales Tax Fund to transfer $9,600,000 from reserves. District5 - Herr (Timothy Jecks, Management & Budget Director) Requesting Department - Parks and Recreation
end
Division:
division
Management and Budget
body
Authorized By:
Timothy Jecks, Management & Budget Director
Contact/Phone Number:
Davison Heriot/407-665-7177
Background:
The property, known as the WB Equestrian facility, includes three parcels that combine to equal approximately 44.6 acres. It is primarily located in FEMA flood zone X outside of the 500-year flood level, with 38.2 acres considered uplands. The property is situated between Lake Markham and Sylvan Lake in the Yankee Lake Watershed. The property has road frontage along the east side of Lake Markham Road and the south and west sides of South Sylvan Lake Drive. It shares a northern boundary with Seminole County’s Sylvan Lake Park and Sylvan Lake. The property has been improved as an equestrian facility. It has a 50-stall barn with air-conditioned lobbies, office and dressing rooms, and a covered training pavilion. The property also includes a single-family residence and two manufactured homes. The neighborhood surrounding the property is generally defined as south of State Road 46 and 429, north of West Lake Mary Boulevard, west of Interstate 4, and east of the Wekiva River. The neighborhood is primarily within unincorporated Seminole County. This property will be added to the Seminole County BCC land bank and held for future use. Possible future uses include improving drainage in the Lake Markham and Sylvan Lake area and expanding Seminole County’s Sylvan Lake Park.
The attached BAR in the amount of $9,600,000 will establish budget for the $9,555,000 land purchase, plus $45,000 for pre-acquisition costs
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a contract for the sale and purchase of land for the WB Equestrian property in the amount of $9,555,000; and execute a Resolution implementing Budget Amendment Request (BAR) #24-080 in the 2014 Infrastructure Sales Tax Fund to transfer $9,600,000 from reserves.