Title
Acquisition of Property for Economic Development Technology Incubator Site from Richard Allen Stafford -- Tax Parcel No. 11341-000-000; Located in the 2100 Block of Hawthorne Road
Explanation
The acquisition of the subject property is required for access, parking, drainage, and for a future auxiliary building planned for the technology business incubator site in East Gainesville. The property consists of approximately 4.09 acres and is immediately adjacent to 4.69 acres being donated by White Electric and Battery Service, Inc. for said Incubator Project. The property being donated lacks highway frontage along Hawthorne Road; the acquisition of the subject site is paramount for the accessibility to the proposed facility. A fair market valuation of $80,000.00 has been established by a State certified appraiser, Emerson Appraisal Company, Inc. The negotiated purchase amount reflects a reduction to offset cleanup costs due to illegal dumping of household items on said property. The City has had an environmental audit and soils evaluation performed which has proved to be acceptable. The purchase of this land is also contingent upon the City of Gainesville receiving grant funds from the United States Economic Development Administration for the Incubator Project and the City closing within 60 days after receipt of said Grant notification. The Incubator Project was previously approved by the City Commission on June 22, 1998.
Fiscal Note
Funds for this acquisition were approved in the Economic Development Fund for Fiscal Year 1998-99 in an amount not to exceed $1,000.00.
Recommendation
The City Commission: 1) approve and ratify the attached Purchase and Sale Agreement for the purchase of Tax Parcel No. 11341-000-000 located in the 2100 block of Hawthorne Road, consisting of approximately 4.09 acres, from Richard Allen Stafford in the amount of $77,250.00 plus closing costs; 2) authorize the City Manager or his designee to execute the approp...
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