SUBJECT/RECOMMENDATION:
Title
Approve a Contract for Purchase of Real Property by the City of Clearwater (City), located at 1843 Springtime Ave, Clearwater, FL 33774, owned by James McLaughlin with a purchase price of $350,000.00 and total expenditures not to exceed $360,000.00, and authorize the appropriate officials to execute same, together with all other instruments required to affect closing. (consent)
Body
SUMMARY:
This parcel is a strategic acquisition for the City of Clearwater to meet some of the recommendations of the Stevenson Creek Water Management Plan, as well as creating direct neighborhood benefits, such as: improving existing flooding conditions and the City’s Community Rating System (FEMA’s CRS), removing one home from the 100-year floodplain, providing much needed access to the creek for construction and maintenance, and providing future flood compensation volume for the area.
This property rests between two bridges (Douglas Avenue & Springtime Avenue) and will provide access during construction of the proposed stormwater improvements and bridge replacements. The clear access is expected to reduce construction cost and potential delays and cost for easement acquisitions. In addition to the short-term benefits, the property is an ideal location, allowing City Stormwater maintenance to access both bridges for routine inspections and maintenance activities as well as access to the creek for neighborhood residents.
Two appraisals were performed, one on, August 21, 2023, which provided an appraised value of $287,500.00, but said did not include the affected creek bank land. November 3, 2023, a second appraisal was completed to total $19,506.00 to include all affected areas including the creek bank; but said appraisal did not include the center portion of the creek bank which was then calculated at $20,596.00 for a total value of $327,602.00 dollars.
The landowner rejected this amount based on current market conditions. As a Licensed Broker, staff formed a Broker's Price Opinion (BPO) based on current closed Sales, strategic importance of the property for city purposes, thereby increasing the amount by $22,398.00 to the final Purchase price of $350,000.00 dollars, which was accepted by the landowner.
A crossing sanitary sewer easement is not within the construction zone, and there are no other utilities to address.
City staff have approved this request.
APPROPRIATION CODE AND AMOUNT:
ENST180003-ACQ-LNDPUR $360,000
Funds are available in capital improvement project ENST180003, Stormwater System Expansion, to fund this contract.
STRATEGIC PRIORITY:
Purchasing this property will help the City achieve Strategic Objective 1.2 Maintain public infrastructure, mobility systems, natural lands, environmental resources, and historic features through systematic management efforts: and 1.3 Adopt responsive levels of service for public facilities and amenities, and identify resources required to sustain that level of service.
