SUBJECT/RECOMMENDATION:
Title
Approve a contract for the sale of surplus property owned by the City of Clearwater located at the SW Corner of Cleveland St. and S. Dr. Martin Luther King Jr. Ave., legally described as; the North 282.5 feet of the East 50 feet of Block 5, according to the plat of Sarah McMullen’s Subdivision, as recorded in Plat Book 1, Page 41, Public Records of Pinellas County, Florida; together with all that part of the West 90 feet of the East 110 feet of the Northwest ¼ of the Northwest ¼ of Section 15, Township 29 South, Range 15 East, which lies between Eastwardly projections of the North and South Boundaries of the part of said Block 5 thus defined, less and except any road rights-of-way to the Clearwater Community Redevelopment Agency (CRA) with a purchase price of $364,782.89; and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
In August 2018, the City of Clearwater acquired the .73-acre unimproved lot via a multi-property land swap.
An independent appraisal was performed on the property on March 21, 2018 by Jim Millspaugh and Associates. The appraisal report determined that the fair market value of the property is $640,000.00.
At the April 4, 2019 council meeting, the City Council approved the declaration of surplus property to be purchased by the CRA in the amount of $364,782.89. The City Finance Director and the CRA Director have mutually agreed to the purchase price which will make the City whole as to its investment in the property.
The CRA’s current plans are to utilize the property for a public parking lot to support downtown development.