Subject:
Title
Contract for Sale and Purchase with Morton Plant Mease Healthcare Foundation, Trustee of Roy & Joan Shaffer Charitable Remainder Trust to acquire environmentally sensitive land referred to as “Grey Oaks.”
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Recommended Action:
Recommended Action
Approval of the Contract for Sale and Purchase (Contract) to purchase environmentally sensitive land as depicted in Exhibit A (Property), referred to as “Grey Oaks,” from Morton Plant Mease Healthcare Foundation, Trustee of Roy & Joan Shaffer Charitable Remainder Trust (Seller).
• Contract purchase price is $500,000.
• Appraised value of Property is $540,000.
• Parcel size is nine acres.
• Parcel is adjacent to and will become part of the Brooker Creek Preserve.
• Purchase funding is available in Capital Improvement Program - Environmental Lands Acquisition Program, funded by Local Infrastructure Sales Surtax (Penny for Pinellas).
• The 10-year program has a little more than $12 Million remaining balance.
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Strategic Plan:
Practice Superior Environmental Stewardship
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
Summary:
Summary
Acquisition of the Property will allow Pinellas County Parks and Conservation Resources Department to expand the Brooker Creek Preserve and protect the Property from future residential development. The property was evaluated and ranked for acquisition as part of the Penny IV Environmental and Park Lands Program.
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Background Information:
Pinellas County Parks and Conservation Resources Department has been pursuing the acquisition of this Property for several years and previously could not reach agreement on purchase price with the Seller. The Seller has now agreed to a purchase price of $500,000.00. County staff obtained an appraisal dated July 14, 2023, indicating an appraised value of $540,000.00.
Fiscal Impact:
The Contract provides for a purchase price of $500,000. This does not include associated closing costs to be paid by the County. Through this agreement, the County is required to provide an earnest money deposit in the amount of $25,000 while due diligence is performed.
Funding is budgeted under CIP project 002168A - Environmental Lands Acquisition, funded by Local Infrastructure Sales Surtax (Penny for Pinellas). FY23 Budget for 002168A was $3.0M. An additional $1.5M was appropriated in the FY 2024 Budget.
Staff Member Responsible:
Paul Cozzie, Director Parks and Conservation Resources
Partners:
N/A
Attachments:
Contract for Sale and Purchase
Exhibit A
Location Map
Appraisal