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County Administrator's Report 12. 5.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	01/08/2015
Issue: Authorization for Sale of Surplus Real Property Located at 5000 Commerce Park Circle
From:	Stephan Hall
Department:	OMB
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Authorization for Sale of Surplus Real Property Located at 5000 Commerce Park Circle - Stephan Hall, Management and Budget Services Interim Department Director

That the Board take the following action concerning authorization for sale of surplus real property located at 5000 Commerce Park Circle:

A. Review the Appraisal that was obtained at the request of the Board at its November 6, 2014, Board of County Commissioners' Meeting;

B. Authorize the sale of the property to the bidder with the highest offer received at or above the minimum bid, which will be set at the appraised value of $340,000; and

C. Authorize the Chairman to sign all documents related to the sale.

BACKGROUND:

5000 Commerce Park Circle is part of the Marcus Pointe Commerce Park that was developed by the County (Plat Book 14 at page 82). The property is approximately 9.04 acres and is encumbered by a 225-foot Gulf Power easement. The Property Appraiser's assessed value of the property is $155,610.

At its November 6, 2014 Commission Meeting, the Board declared this property surplus. An appraisal was requested by the Board to determine the market value of said property. The Board required the appraisal to be brought before it for consideration prior to authorizing sale of the property. In addition, the Board added as a stipulation to the sale of this property that the buyer abide by the covenants existing in the Marcus Point Commerce Park including the obligation to improve lots without County approval, and an option for the County to repurchase lots that have not been improved within 1 year.

The appraisal has been performed and reflects a current market value of $340,000, based on that portion of the property that is not encumbered by the easement, or 5.42 acres. Sale of the parcel will be set at the appraised value of $340,000. The County does not have a need for this property.

BUDGETARY IMPACT:

Sale of this property will provide revenue for the Economic Development Fund (102).

LEGAL CONSIDERATIONS/SIGN-OFF:

All legal documents will be approved as to form and legal sufficiency by the County Attorney's Office prior to execution by the Chairman. The purchaser will pay all closing costs.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

Escambia County Ordinance, Section 46.134

IMPLEMENTATION/COORDINATION:

N/A

Attachments
Appraisal - 5000 Commerce Park Circle (2014)
11-6-2014 Minutes Page