Subject:
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Written notice that the County is exercising its option to purchase real property from the Blanche K. “Pip” Whitesell Revocable Trust Agreement.
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Recommended Action:
Recommended Action
Approval of a written notice declaring that the County is exercising its option to purchase a parcel of real property as depicted in Exhibit A (Property) from the Blanche K. “Pip” Whitesell Revocable Trust Agreement (Seller).
• Property is 20.315 acres of environmentally sensitive land that has a northern and southern border adjacent to County-owned preserve land.
• County entered into Option Contract for Sale and Purchase for the Property on March 31, 1998.
• Effective date for exercise of the option to purchase became effective on December 13, 2022, the date of notification from Seller’s attorney.
• Original expiration for exercise of option was June 13, 2023.
• Amended expiration for exercise of option is September 13, 2023.
• Purchase price will be determined by calculating the average of two appraisals conducted by separate appraisers that are approved by County staff.
• Purchase funding is budgeted in Capital Improvement Program project 002168A - Environmental Lands Acquisition, funded by Local Infrastructure Sales Surtax (Penny for Pinellas). The Fiscal Year 2023 project budget is $3.0M.
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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
Written notice from the Board to the Seller stating that the County is exercising its option to purchase will initiate the process to acquire the Property.
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Background Information:
Property is 20.315 acres of environmentally sensitive land that has a northern and southern border adjacent to County-owned preserve land.
On March 31, 1998, the County entered the Contract with the Sellers to purchase the Property. The Contract stipulates that the County must exercise its option to purchase within six (6) months of the option becoming effective. At Seller’s request, the Contract was amended to nine (9) months for a final exercise deadline of September 13, 2023.
Purchase price will be determined by calculating the average of two (2) appraisals conducted by separate appraisers that are approved by County Staff.
Fiscal Impact:
The purchase price is not known at this time but will be determined by calculating the average of two (2) appraisals conducted by separate appraisers chosen from a County approved list, one of which may be selected by the Seller. In addition to the purchase price, there will be associated closing costs to be paid by the County.
Funding is budgeted under CIP project 002168A - Environmental Lands Acquisition, funded by Local Infrastructure Surtax (Penny for Pinellas). The FY23 budget for 002168A is $3.0M.
Staff Member Responsible:
Paul Cozzie, Director Parks and Conservation Resources
Partners:
N/A
Attachments:
Written Notice
Option Contract
Exhibit A