SUBJECT/RECOMMENDATION:
Title
Approve a Contract for Purchase of Real Property located at 1399 Pineapple Lane, Clearwater, FL, in an amount not to exceed $620,000.00; transfer funds from Open Space Impact Fees to Park Land Acquisition (CIP 315-93133) at first quarter and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
The subject property is owned by Co-Trustees of the Marilyn C. Woodring Revocable LivingTrust Agreement and is located at 1399 Pineapple Lane, Parcel No. 08-29-16-00000-240-0100. The acquisition consists of a property that is primarily open space with one residential home and storage shed on the property that is approximately 148,104 square feet and abuts Moccasin Lake Park. This parcel would be a strategic acquisition for the City’s Parks & Recreation Department in that it would expand Moccasin Lake Park and provide for preservation of the property for future generations. Also, this will ensure residents on Pineapple Lane that additional development will not be constructed at the end of their Street. If purchased, this property would remain in its natural state and be used as an addition to Moccasin Lake Park with minimal improvements. There is an opportunity for natural restoration project of a portion of the land that is an open meadow.
The city obtained an independent appraisal performed by James Millspaugh and Associates, Inc. for $600,000. The owner representative and city staff agreed on a purchase price at the appraised value of $600,000.
Summary of costs for the purchase of the subject property are as followed:
Purchase price: $600,000.
Closing costs and other ancillary expenses required for closing: $20.000.00.
Total: $620,000.00.
APPROPRIATION CODE AND AMOUNT:
Funds are available in Special Development Fund for this purchase. A first quarter budget amendment will transfer $620,000.00 of Open Space impact fees from the Special Development Fund into project 315-93133 Park Land Acquisition.
USE OF RESERVE FUNDS:
N/A
STRATEGIC PRIORITY:
Purchasing this parkland helps Parks & Recreation to achieve Strategic Objective 1.2 maintain public infrastructure, mobility systems, natural lands, environmental resources, and historic features through systematic management efforts; and 4.3 to protect the conservation of urban forests and public green spaces. The addition of this land allows for the expansion of Moccasin Lake Nature Park, a sprawling outdoor park brimming with wildlife and natural beauty. The extra acreage provides for more space that this park can use for the enjoyment and education of Clearwater residents.
