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CASSELBERRY CITY COMMISSION Minutes of Judy 22, 2013 — Regular Meeting Page 8 of 14 J. Resolution 13 -2512 — Contract for Purchase and Sale of 131 Quail Pond Circle and Related Budget Amendment #13 -058 "A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, APPROVING A CONTRACT FOR PURCHASE AND SALE AGREEMENT BETWEEN KENNETH GIRST, DAVID GIRST, AND RAYMOND GIRST AND THE CITY OF CASSELBERRY FOR THE PROPERTY LOCATED AT 131 QUAIL POND CIRCLE; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE." Introduction: : Resolution 13 -2512 approves a Contract for Purchase and Sale for the City to purchase real property located at 131 Quail Pond Circle (parcel identification number 08- 21- 30- 514 -QB00 -0250) in the amount of $90,000, plus closing costs, and authorizes the Mayor to execute said document on behalf of the City. Consideration of related Budget Amendment #13 -058 is also requested. Background: The subject property is located adjacent to the Lake concord Park and directly east of the Casselberry Art House. Acquisition of this property would allow for an expansion of Lake Concord Park. The property is currently owned by Kenneth Girst, David Girst, and Raymond Girst. Budget Impact: The approval of this Contract for Purchase and Sale has a budgetary impact for the City of Casselberry. The purchase price for the property is $90,000. Closing costs are estimated to be an additional $10,000. The total budget for this acquisition is $100,000 and it will be charged to the Land Account for the Parks and Facilities Division (001- 0410 - 572.61 -07). The source for funding will be General Fund -Fund Balance Reserve. BA #13 -058 Explanation of Request: This item seeks City Commission approval to provide funding to purchase property located at 131 Quail Pond Circle. Acquisition of the property would allow for expansion of Lake Concord Park. As required by City policy, an appraisal was authorized which determined a current valuation of $88,000. The purchase property is $90,000; an additional $10,000 is requested for closing and other acquisition costs. This budget amendment will provide sufficient funding for the City to acquire this property. Account Number Account Description Amount Increase: 001- 0000 - 389.90 -00 Other Non-Operating Source $100,000 001- 410- 572.61 -07 Land $100,000 Recommendation: The City Manager and the interim Community Development Director recommended approval of Resolution 13 -2512 and related Budget Amendment #13 -058. K. Tentative Tax Rate for Fiscal Year 2013/2014 Introduction: Consideration to set the tentative millage rate for Fiscal Year 2013/2014 (FY2014) at 5.4500 mills is requested.