Title
Resolution Authorizing and Approving the purchase of 60 acres from the Suwannee River Water Management District (B)
This item involves the adoption of a Resolution Authorizing and Approving the purchase of 60 acres commonly known as Buck Bay Recreation Area from the Suwannee River Water Management District.
Explanation
The Suwannee River Water Management District ("District") owns 60 acres of property, commonly known as the Buck Bay Recreation Area, north of Gainesville, on State Road 121 in Alachua County, Florida. In July 2004 a representative from the District approached Parks, Recreation and Cultural Affairs Department about leasing the 60-acre tract of land that borders SR 121 and runs along NW 102 Place to the City for the use as a potential recreational park. The District indicated this long-term lease would allow the City of Gainesville to pursue active recreational fields. Staff did a site assessment on the land and met both with the District and citizens to discuss potential recreational development. A 50-year Lease Agreement was approved on July 10, 2006. The conditions of the lease provided the City with the First Right of Refusal should the District declare Buck Bay Recreation Area as surplus and gave the City the option to purchase the property at the fair market value. On June 21, 2011 staff of the District recommended to the Governing Board to declare the property as surplus as it was no longer needed for conservation purposes. On June 29, 2011, the City received notification from the District that the property had been declared as surplus and District staff was authorized to begin discussions with the City for conveyance of the property. On May 29, 2012, the District received an opinion of value from Real Property Analyst, Inc., Robert Sutte, MAI, of $186,000 for the property. The City Manager recommended a purchase option consisting of a fifteen year promissory note at one percent for the fair market value. The District acc...
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