Agenda Item Name:
Title
Lake Santa Fe - Butler Option Contract to Purchase Real Property
End
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 - Butler from the Butler family (? 1.01 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 - Butler Option Contract to purchase Real Property;
2. Approve the acquisition subject to title exception number 5 (oil/gas/mineral reservations);
3. Authorize staff to execute additional documents as necessary to close the transaction; and
4. Approve the expenditure of funds for due diligence and associated closing costs.
End
Prior Board Motions:
On September 22, 2020, the BoCC placed Lake Santa Fe - Butler 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.
Total acquisition costs are estimated to be $2,525 for the land plus $3,818 for due diligence and closing services. The basis for these estimates is detailed below. The final purchase price will be based on $2,500 per/acre multiplied by the surveyed acreage as defined in the Option Contract to Purchase Real Property.
Section 125.355(1)(b), Florida Statutes, states, "The governing body may, by ordinary vote, exempt a purchase in an amount of $100,000 or less from the requirement for an appraisal." The Just Value listed by the Property Appraiser is $1,000. The proposed purchase price of $2,500 per acre is the result of negotiation with the seller.
In order to provide sufficient spending author...
Click here for full text