|March 8, 2016 - Regular Meeting|
Agenda Item #23
Contract for Sale and Purchase from M & S Manatee, LLC., for a property located at 47th Avenue Circle East, Bradenton, Florida 34203; PID 1730404909
Contact and/or Presenter Information
Sia Mollanazar, P.E., Deputy Director, Engineering Services, Public Works Department, Extension 7487.
Tim Cristello, Real Property Specialist, Property Acquisition Division, Property Management, Extension 6284.
- Execution of Contract for Sale and Purchase with M & S Manatee, LLC., for the purpose of the 44th Avenue East Road Improvement Project in the amount of $895,000.00.
- Adopt Resolution R-16-033 and Budget Amendment Resolution B-16-041 for an Interfund Loan from the Transportation Trust Fund (Fund 101) to the Highway Capital Projects Fund (Fund 304) for $1,000,000.00 for construction related costs for the 44th Avenue East-44th Avenue Plaza East-Lakewood Ranch Boulevard Project, as approved in the FY2016-2020 CIP.
Section 163.1 and Chapters 125 and 127 of the Florida Statutes. Manatee Comprehensive Plan Goal 5.1 addresses the safety and efficiency of forecasted vehicular demands.
- This Parcel is 8.43 acres of vacant land that is within the proposed roadway alignment. This acquisition is needed to allow for the current alignment corridor, and is necessary for the revised connection (intersection) of the realigned Creekwood Boulevard and the extension of 44th Avenue East.
- On January 6, 2015, Appraiser Roger Hettema, MAI, SRA of Hettema Saba, LLC., determined the value of acquisition at $480,000.00. This appraisal was requested by Manatee County.
- On August 6, 2014, Appraiser Robert Fletcher, MAI,AICP,CCIM, of Bass and Associates, Inc., determined the value of acquisition at $1,050,000.00. This appraisal was requested by Edward Vogler II who represents the seller.
- Property Acquisition has reviewed the appraisals and determined that the Hettema Saba appraisal value is based on gross acre and the Bass and Associates, Inc., appraisal value is based on usable acre. Both appraisers used the same comparable to estimate value. The only difference is the calculation method: gross acre versus usable acre.
- A settlement agreement of $895,000.00 was negotiated by Public Works and eliminates the need for eminent domain and additional costs.
- Funding for this project was identified in the FY 2016-2020 CIP as debt proceeds. Reimbursement Resolution R-15-119 dated August 25, 2015, established the County's intent to reimburse certain capital expenditures with proceeds from tax exempt financing.
- Resolution R-16-033 and Budget Amendment B-16-041 establish an internal loan in the amount of $1,000,000 which will be repaid from debt proceeds from bonds to be issued for transportation projects.
County Attorney Review
Other (Requires explanation in field below)
Explanation of Other
Pamela D' Agostino, Assistant County Attorney, assisted in negotiations and drafting the conveyance documents.
Instructions to Board Records
Please return original executed contracts and certified copy of the resolution to Tim Cristello, Property Management Department, 1112 Manatee Avenue West, Suite 800, Bradenton, Florida 34205.
Please email executed M & S Manatee, LLC, Contract for Sale and Purchase documents to: Ivonne Caldwell, Sharma Eminent Domain Lawyers, at email@example.com
Please email all executed documents to Johnnie Yetter at Johnnie.Yetter@mymanatee.org and to firstname.lastname@example.org
Cost and Funds Source Account Number and Name
Settlement costs of $895,000.00 to 304-6045662, Highway Capital Projects Fund (44th Avenue East-44th Avenue Plaza East to Lakewood Ranch Boulevard)
Amount and Frequency of Recurring Costs
Attachment: M & S Manatee LLC Contract for Sale and Purchase.pdf
Attachment: R-16-033-Interfund-Loan-44th Ave Plaza E - LWR Blvd.pdf
Attachment: B-16-041 44th Avenue E-44th Ave Plaza East-Lakewood Ranch Blvd.pdf
Attachment: M & S Manatee, LLC Location Map.pdf