CRA 12/12/2013 Minutes - Laserfiche WebLink

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Community Redevelopment Agency December 12, 2013 Page 6 of 8 Seminole County Commission. Mr. Gonot requested that the adoption of the Plan Update be contingent on Seminole County approving the term extension. Mr. Gonot said he would appreciate the Board attending the City Commission workshop and public hearing to show the CRA Board's support. He said they received great feedback from Seminole County staff. Mr. McGregor asked for public comment. Mr. John Casselberry, 700 South Lost Lake Lane, Casselberry, Florida came forward. In response to Mr. Casselberry's question regarding the expiration date of the CRA, Mr. Gonot said that the CRA is set to expire in 2015 and the ten year extension would take the CRA to 2025. Mr. Casselberry suggested extending the CRA as soon as possible. Mr. Gonot stated that Seminole County is aware of the extension request. Mr. Alfred made a motion to accept the Plan Update and move it through the approval process. Mr. Moore seconded the motion. The motion passed unanimously by voice vote. Fifth Item of Business: CRA Directive — Triece Company and PMG Comparative Analysis Mr. Kyle Dudgeon, Economic Development Planner, stated at the November 14, 2013 CRA meeting, PMG & Associates presented information regarding the CRA justification report and plan update and part of the update included an analysis of building to land ratio. He said the Board questioned if these properties were related to the acquisition information presented by the Triece Company at the September CRA meeting. Mr. Dudgeon said staff compared both sets of information and identified four properties which met the building to land ratio and acquisition. He said these parcels are identified as Exhibit A attached to the staff memo dated December 12, 2013 (a copy is attached and made a part of the minutes). He said based on the information it was determined that a direct acquisition may not be a suitable strategy moving forward. Mr. Dudgeon said staff decided a proper course of action would be to develop a public /private partnership. Mr. Dudgeon said staff contacted representatives for the four parcels and at this time there is no interest in redevelopment for these parcels. A general discussion ensued regarding redevelopment opportunities for the four parcels, the assessed value for the parcels, the use of a sale price per square footage as an accurate sale price, to continue researching