Agenda Item Name:
Title
Use of General Fund Reserves to Purchase Land in Micanopy, per Approved Settlement Agreement.
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Presenter:
Tommy Crosby, Assistant County Manager, 352-337-6205
Description:
March 22, 2022, the Board approved a settlement agreement for the purchase of land in Micanopy and use of General Fund Reserves for this purchase. A budget amendment is necessary to reallocate budget from General Fund Reserves to an expenditure account in Special Expense so funds can be expended at the closing. Also, authorize the Chair or the County Manager (or her designee) to approve and execute, on behalf of the County, any other documents approved by the County Attorney's Office that are necessary to implement the terms and conditions of the Settlement Agreement, or to complete the purchase and conveyance of the Property to the County.
Recommended Action:
Recommended Action
Approve the budget amendment to move the funds from General Fund Reserves to Special Expense for the purchase of land in Micanopy, per the Settlement Agreement. Authorize the Chair or the County Manager (or her designee) to approve and execute, on behalf of the County, any other documents approved by the County Attorney's Office that are necessary to implement the terms and conditions of the Settlement Agreement, or to complete the purchase and conveyance of the Property to the County.
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Prior Board Motions:
March 22, 2022: Approved the Proposed Settlement Agreement and authorized the Chair to execute on behalf of the County. The motion carried 5-0.
Fiscal Consideration:
. Fiscal Consideration
$720,000 for the land purchase through the approved Settlement Agreement, plus no more than $10,000 in attorney fees, recording fees and other closing related costs, utilizing General Fund Reserves.
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Strategic Guide:
. Strategic Guide
N/A
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Background:
At the March 22, 2022, meeting, item #13. Proposed Settlement Agreement under Section 70.51 Florida Statute.
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