SUBJECT/RECOMMENDATION:
Title
Approve a Contract for Sale of Vacant Real Property with Modern Realty of Tampa, LLC, in the amount of $725,000.00, further defined by address 7240 US Hwy 19 N Pasco County, FL, Parcel 32-25-16-0040-00C00-0040 within Section 32, Township 25 South, Range 16 East; located in Pasco County, Florida, and authorize the appropriate officials to execute same.
Body
SUMMARY:
This property, now vacant, previously housed a remote operations building for Clearwater Gas System, with a warehouse facility dedicated to Pasco natural gas expansion field operations. The purpose of this sale is to sell off property eventually secure a more cost-effective location in the central Pasco area where most of the residential and commercial growth is occurring (i.e., between State Road 52 and 54, near the Suncoast Parkway corridor).
On March 3, 2025, City Council declared this property as surplus and Invitation to Bid (ITB) #33-25 was issued in May 2025. Modern Realty of Tampa, LLC was the highest most responsive bidder in the amount of $725,000. In addition, the land was appraised in November 2024 at $650,000, representing a $450,000 increase over the initial purchase back in September 1995.
City staff have reviewed and support the Sale.
APPROPRIATION CODE AND AMOUNT:
Funds will be deposited into Account 423-364220 (Surplus Land Sales), a revenue to the Gas Utility Enterprise Fund.
USE OF RESERVE FUNDS: N/A
STRATEGIC PRIORITY:
1.3 - Adopt responsive levels of service for public facilities and amenities, and identify resources required to sustain that level of service.
1.5 - Embrace a culture of innovation that drives continuous improvement and successfully serves all our customers.