Title
8th & Waldo Project Update (B)
Explanation
The Capital Assets Planning and Economic Resilience (CAPER) Department provided an 8th and Waldo Road Status Report on the consent agenda for the June 15th GCRA Advisory Board meeting (Legistar #201192). The item was pulled from the consent agenda and several inquiries were made by the Board as to specific components of the project. This agenda item is intended to report out on next steps and work completed/pending regarding the project.
A. The City of Gainesville 2020-2025-2035 Strategic Plan identified 8th & Waldo Land Acquisition as a High Priority, and the 2019 Gainesville Community Reinvestment Area (GCRA) 10-year Reinvestment Plan identified the 8th & Waldo area as an Economic Development Initiative Core. To meet these goals and maximize the impact of the 36-acre City-owned 8th & Waldo project area, Colliers International negotiated on behalf of the City a purchase agreement with Segovia Ventures for the Ace Check Cashing site, located at the NW corner of Waldo Road and NE 8th Ave, on 806 NE Waldo Road, Gainesville, FL 32641 (Tax Parcel# 10515-002-000).
The purchase price of $210,000 is subject to the validation by a certified appraisal ordered by the Buyer. The purchase price will not exceed the appraised value. The appraisal fee for this was quoted at $2,700, the boundary survey at $4,020, the Environmental Assessment Phase 1 at $1,800. This property is within the GCRA area.
B. A Phase I Environmental Assessment (ESA), conducted by Water & Air research, Inc., revealed evidence of Recognized Environmental Conditions (RECs) within the property, in the areas west of NE 14th Street. A Phase II ESA was recommended to further investigate the RECs. No further environmental investigation is needed in the geographic area within the GCRA portion of the site.
A General Fund source will be used for funding the Phase II ESA. The Phase II ESA is expected to be ...
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