Subject:
Title
Transfer of property to the Economic Development Authority and execution of a Contract for Sale and Purchase between the Economic Development Authority and Crown Automotive Management, Inc. for the property located at 7651 U.S. Highway 19 North in Pinellas Park.
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Recommended Action:
Recommended Action
Approve the transfer of property from Pinellas County to the Pinellas County Economic Development Authority (EDA); authorize the Chairman to sign the Contract for Sale and Purchase (Contract) between the EDA and Crown Automotive Management Inc. (Crown) for the property located at 7651 U.S. Highway 19 North in Pinellas Park (Property); and authorize the Chairman to execute the deeds and the Clerk to attest.
Body
Strategic Plan:
Foster Continual Economic Growth and Vitality
4.3 Catalyze redevelopment through planning and regulatory programs
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the public’s resources
Summary:
The transfer of this surplus property to the EDA is required to complete the sale, pursuant to the approved Request for Negotiation (RFN) process. The subsequent sale to Crown avoids future maintenance costs, returns the property to the tax roll, and promotes industrial and economic development.
Background Information:
In 1960, the County deeded the subject property to the State of Florida (State) for use as a highway patrol station. A deed restriction stated that if the property ceased to be used as a highway patrol station, ownership would revert to the County. In December of 2014, the State deeded the property back to the County.
On November 10, 2015 the Board of County Commissioners declared the property surplus and authorized the EDA to seek business opportunities for the sale and development of the property through an RFN process. The appraised value is $684,000.
Three responses were received to the RFN and were reviewed based on the evaluation criteria detailed in the RFN. Crown offered a purchase price of $802,000. In addition to the purchase price, Crown’s response to the economic development criteria informed of their intention to invest $1.65 million on the property and to invest $9 million in construction for a new Honda dealership at another location on U.S.19. The Crown response also proposed average annual wages of approximately $61,000 with full benefits, which is double the average annual wages cited in the other two responses received.
Fiscal Impact:
Revenue of $802,000.00. Proceeds from the sale of this property will be deposited in the Sale-Surplus County Land account.
Staff Member Responsible:
Michael Meidel, Director, Economic Development
Andrew W. Pupke, Director, Real Estate Management
Partners:
N/A
Attachments:
Contract
Deed from County to EDA
Deed from EDA to Crown
Location Map