Title:
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Approve and authorize the Chairman to execute a Purchase Agreement for the acquisition of the vacant land located on Cameron Avenue, Sanford, Florida consisting of approximately 4.97 acres, in the amount of $1,275,000; authorize the County Manager to execute ancillary documents necessary to complete the transaction; approve and authorize the Chairman to execute a Resolution implementing Budget Amendment Request (BAR) #26-036 in the 2024 Infrastructure Sales Tax Fund to transfer $1,300,000 from reserves. District5 - Herr (Stephen Koontz, Assistant County Manager) Requesting Department - Parks and Recreation
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Division:
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Administrative Services-Real Estate
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Authorized By:
Shane Fischer, Real Estate Division Manager
Contact/Phone Number:
Tricia Smith/407-665-5609
Background:
The County has identified the 4.97-acre vacant property located on Cameron Avenue in Sanford, Florida, for acquisition. The property is strategically located near the proposed Indoor Sports Complex and would support future expansion or overflow parking. The County obtained an appraisal valuing the property at $1,155,000. Acquiring this property is in the best interest of the County, as it will strengthen long-term planning efforts, increase operational flexibility, and enhance the success of future recreational facilities and supporting infrastructure. BAR 26-036 will transfer $1.3M from 2024 Infrastructure Sales Tax Reserves. Current reserves are budgeted at $34M.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a Purchase Agreement for tax parcel ID 03-20-31-5AY-0000-18A1 located along Cameron Avenue, conveniently located near the proposed Indoor Sports Complex containing 4.97 acres for the possibility of facility expansion or overflow parking between Danny Martinez, Inc., and Seminole County for $1,275,000.00 as full settlement of any and all claim for compensation for which Seminole County might be obligated to pay relating to the parcel.