Title
Land Acquisition Contracts for parcels (#6738, #6743-4, and #6743-5) adjacent to Green Acres Park (B)
This item involves a request for the City Commission to approve and authorize the City Manager to execute the purchase contract and closing documents in order to proceed with the acquisition of 3 parcels totaling 39.11 acres adjacent to the City-owned Green Acres Park.
Explanation
At their July 21, 2011 meeting, the City Commission approved the current Parks, Recreation and Cultural Affairs Department Priority Land Acquisitions list. The three parcels of interest are in the top priority property of the second tier priority parcels designated on the priority list. They constitute 39.11 acres of land immediately adjacent to the south boundary of the City-owned Green Acres Park. In September, 2011, appraisals were conducted and contracts were drafted for acquisitions of $127,500 (#6738, 15 acres), $179,000 (#6743-4, 22.36 acres), and $25,000 (6743-5, 1.75 acres). PRCA staff would now like to move forward with closing on these contracts utilizing the WSPP funds available for the acquisition of conservation land. The City will conduct due diligence within one month of City Commission approval. If the due diligence is acceptable, closing on the properties can be completed by the end of December, 2011.
Staff is continuing to pursue acquisitions based on the approved priority listing, and anticipates additional contracts will be forthcoming.
Fiscal Note
The cost to the City to complete the land acquisition of parcels #6738, #6743-4, and #6743-5 will be $331,500, plus due diligence and closing costs. The funding for these acquisitions will come from the WSPP land acquisition funds. Funding will remain for future acquisitions.
Recommendation
The City Commission approve and authorize the City Manager to execute all necessary closing documents, subject to approval by the City Attorney as to form and legality.