Subject:
Title
Contract for Sale and Purchase with the Pinellas County School Board (PCSB) for the purchase of the PCSB owned “West Klosterman” Property for addition to the Mariners Point Management Area.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Contract for Sale and Purchase (Contract) with the Pinellas County School Board (PCSB) for the purchase of the PCSB owned “West Klosterman” Property (Property) for addition to the Mariners Point Management Area (Mariners Point).
• The Property is owned by PCSB and PCSB is desirous of selling the Property.
• The PCSB and the County have negotiated a purchase price of $3.0M
• The County will provide 50.0% of the funding required to purchase the Property in an amount not to exceed $1.5M.
• A grant (Grant) from WK Preservation Group, Inc. (WKPG) will provide the remaining $1.5M of the funding required to purchase the Property.
• WKPG is a Florida not-for-profit corporation organized for charitable and educational purposes and was formed to undertake preservation and conservation of lands that provide natural habitat and environmental advantage, raising funds and distributing funds for this purpose.
• Resolution 23-61 delegates authority to execute the Contract to the County Administrator.
• Acquisition is budgeted under the Environmental Lands Acquisition project, 002168A. This project is budgeted in the Fiscal Year (FY) 2024 - 2029 Capital Improvement Program plan. The “West Klosterman” acquisition is programmed in FY 2025 for $1.5M and funded by Local Infrastructure Sales Surtax (Penny for Pinellas).
• Payment to PCSB will be made in FY 2025 on the closing date after the due diligence period (up to 120 days), which begins upon execution.
• The Contract contains a “Funding Contingency” allowing the County to terminate the agreement if WKPG funding of $1.5M is withdrawn prior to the closing date.
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Strategic Plan:
Practice Superior Environmental Stewardship
3.1 Implement green technologies and practices where practical
3.2 Preserve and manage environmental lands, beaches, parks, and historical assets
3.3 Protect and improve the quality of our water, air, and other natural resources
Deliver First Class Services to the Public and Our Customer
5.1 Maximize partner relationships and public outreach
5.2 Be responsible stewards of the public’s resources
5.4 Strive to serve the needs of all Pinellas County residents and customers
Summary:
Acquisition of the Property will allow Pinellas County Parks and Conservation Resources Department to expand Mariners Point and protect the Property from future development.
Background/Explanation:
The Property contains 14 acres of environmentally sensitive land located on West Klosterman Boulevard in Tarpon Springs and is adjacent to Mariner’s Point. County staff previously placed this Property on its list of environmental lands targeted for acquisition through the Parks and Environmental Lands Acquisition Program if it became available for sale.
The PCSB no longer needs the Property and is desirous of selling.
WKPG is a Florida not-for-profit corporation organized for charitable and educational purposes and was formed to undertake preservation and conservation of lands that provide natural habitat and environmental advantage, raising funds and distributing funds for this purpose. Through its fundraising efforts, WKPG has committed to providing 50.0% of the purchase price to assist the County with the acquisition of this environmentally sensitive acquisition.
Resolution 23-61 provides a preliminary funding commitment from the County in an amount not to exceed $1.5M, subject to finalization of the Grant with WKPG and finalization of a Sale and Purchase Agreement with PCSB
This Property will be owned by the County and added to Mariner’s Point.
Fiscal Impact:
PCSB has agreed to sell the Property for $3.0M. WKPG will contribute $1.5M towards this purchase price through a grant agreement with the County, executed April 2nd, 2024 (File 24-0173D). WKPG will wire their contribution to the County no later than 10 days prior to closing. The County is responsible for the remaining $1.5M.
The County contribution of $1.5M is budgeted in the Approved FY24-FY29 CIP plan under the Environmental Lands Acquisition project, 002168A. The “West Klosterman” acquisition is programmed in FY25 of the CIP plan and funded by Local Infrastructure Sales Surtax (Penny for Pinellas). Payment to PCSB will be made via wire transfer from the County in FY25 at closing, following the due diligence period (up to 120 days following Contract execution).
The Contract contains a “Funding Contingency” allowing the County to terminate the agreement if WKPG funding of $1.5M is not available prior to the closing date.
Delegated Authority:
Authority for the County Administrator to sign the Contract is granted under Resolution 23-61.
Staff Member Responsible:
Paul Cozzie, Director, Parks and Conservation Resources
Partners:
Pinellas County School Board
WK Preservation Group
Attachments:
Purchase and Sale Agreement
Resolution 23-61
Grant Agreement
Location Map