|REVISED May 8, 2018 - Regular Meeting|
Agenda Item #24
Execution of Contract for Sale and Purchase from Terry Read a/k/a Terry Reed for property located at 4304 62nd Street East, Bradenton, Florida 34203; PID 1494214453
Contact and/or Presenter Information
Joy Leggett-Murphy, Property Acquisition Division Manager, Property Management Department, Extension 3439
Charles Meador, Real Property Specialist, Property Acquisition Division, Property Management Department, Extension 6289
- Execution of Contract for Sale and Purchase with Terry Read a/k/a Terry Reed for the purpose of the 44th Avenue East Road Improvement Project from 45th Street East to 44th Avenue Plaza East.
Chapters 125 and 127, Florida Statutes. Manatee County Comprehensive Plan Goal 5.1 addresses the safety and efficiency of forecasted vehicular demands.
- The 44th Avenue East Road Improvement Project from 45th Street East to 44th Avenue Plaza East was approved in FY 2014 (Project Number 6086960).
- Parcel 135 is improved with a homestead residence. A guest house/apartment is located on the property, but is located outside of the partial acquisition area.
- Independence Acquisition and Appraisal, LLC, was contracted to negotiate an agreement for the land.
- On March 16, 2017, Appraiser Nick Chop, MAI, Florida Valuation, determined the value of the area for acquisition at $412,250.00 consisting of a land value at $51,450.00, improvements at $278,000.00, damages incurable at $25,800.00, and cost to cure, net or minor, at $57,000.00.
- Terry Read a/k/a Terry Reed, the owner, retained attorney Gregory S. Rix and Ryan C. Reese of Moore, Bowman, & Rix, P.A.
- A settlement was approved by Public Works in the amount of $485,550.00 for land, improvements, and cost to cure and includes legal and expert costs. Manatee County, as the condemning authority, is required to pay a landowner's attorney fees and reasonable expert costs in eminent domain proceedings.
- The area of the partial acquisition is 39,551 square feet. The area of each Temporary Construction Easement (TCE) is 4,266 square feet and 11,900 square feet, respectfully. The TCE's were not part of the appraisal or initial project design and will allow a five-foot envelope around both the pond and the house to allow equipment to maneuver.
- The temporary easement rights shall commence on the day of closing and terminate ninety (90) days after closing.
County Attorney Review
Not Reviewed (No apparent legal issues)
Explanation of Other
Instructions to Board Records
Please return a copy of the executed contract to Charles Meador at firstname.lastname@example.org, Johnnie Yetter at email@example.com, Eric Shroyer at firstname.lastname@example.org, and Angelia Stevenson at email@example.com.
Cost and Funds Source Account Number and Name
Settlement costs of $485,550.00 to 399-6086960, 44th Avenue East - 45th Street East to 44th Avenue Plaza
Amount and Frequency of Recurring Costs
Attachment: Contract for Sale and Purchase.pdf
Attachment: Cost Avoidance Analysis.pdf
Attachment: Location Map.pdf