Agenda Item Name:
Title
Lake Santa Fe - Brooks Option Contract to Purchase Real Property
End
Presenter:
Andi Christman / (352) 264-6804
Description:
Staff Requests the Board of County Commissioners (BoCC) approve and exercise the attached Option Contract to Purchase the Lake Santa Fe - Brooks from F. Lucretia Brooks (? 2.58-acre) 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 - Brooks Option Contract to purchase Real Property, subject to the County's rights to conduct due diligence inspections and notice Seller of Title Defects and Environmental Defects as set forth in the Contract;
2. Approve the acquisition subject to title exception number 5, as listed in the attached Title Commitment;
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 October 26, 2021, the BoCC placed Lake Santa Fe - Brooks property on the Active Acquisition List (Full Price List).
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 of the contract.
Total acquisition cost is $11,000 for the land plus $8,997 for due diligence and closing services. The basis for these estimates is detailed below.
In order to provide sufficient spending authority to cover an unanticipated change in acquisition costs, staff is requesting authorization to expend an amount equal to the estimated acquisition and due diligence costs, plus 10%.
Summary of Estimated Costs
* Purchase price: $11,000 (2.58 ac x $4,263.57/ac)
* Phase I ESA: $1...
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