Agenda Item Name:
Title
Lake Santa Fe - Jefferson Option Contract to Purchase Real Property
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Presenter:
Charlie Houder / (352) 264-6804
Description:
Staff Requests the Board of County Commissioners (BoCC) to approve and exercise the attached Option Contract to Purchase the Lake Santa Fe - Jefferson from the Jefferson family (? 293 acres) through the Alachua County Forever program. The execution of this Contract to purchase Real Property, is the final BoCC action on the acquisition of this project.
Recommended Action:
Recommended Action
1. Approve and authorize the Chair to exercise the Lake Santa Fe - Jefferson Option Contract to purchase Real Property;
2. Approve the acquisition subject to title exception number 5;
3. Authorize staff to execute additional documents as necessary to close the transaction; and
4. Approve the attached budget amendment authorizing the expenditure of funds for due diligence and associated closing costs.
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Prior Board Motions:
On July 14, 2020, the BoCC placed Lake Santa Fe - Jefferson property on the Active Acquisition List (Full Fee).
Fiscal Consideration:
Fiscal Consideration
The amount of the option payment is a non-refundable $1,000.00. However, if the option is exercised, the $1,000.00 will be applied to the final purchase price.
The contract allows the County Manager to cancel the contract "for any reason or no reason" during the due diligence period of 120 days.
Total acquisition costs are estimated to be $1,313,448.68 for the land plus $58,484.25 for due diligence and closing services. The basis for these estimates is detailed below. The final purchase price will be based on $4,482.76 per/acre multiplied by the surveyed acreage as defined in the Option Contract to Purchase Real Property. A precise determination of the Lake Santa Fe - Jefferson total acres will not be known until a boundary survey is complete.
In order to provide sufficient spending authority to cover an unanticipated change in acreag...
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