CC 02/26/2020 Minutes - Pre-Budget Planning Workshop

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CASSELBERRY CITY COMMISSION Minutes of February 26, 2020 — Pre-Budget Planning Workshop Page 8 of 10 residence in the hands of the heir to the estate, or to whomever it was assigned. The proceeds from the sale of the land surrounding the residence would be used for improvements to the residence for the City's use as an event venue, and then the venue would be leased to the City for fifty years, with either an option for extending the lease for an additional fifty years, or granting to the City of a right of first refusal for purchase of the venue. Mr. Newlon advised this was not something he would recommend, as he felt it seemed to be an overly complicated option, but he desired input from the City Commission as to their thoughts. It was expressed by all members of the Commission that there was no value to the City in this option, and they preferred an outright fee simple transfer of ownership. 3. Construction of a museum facility on the property separate from the residence which would focus on the history of Seminole County and the City of Casselberry. It was suggested that the museum could possibly be an adjunct facility for the Seminole County History Museum. Mr. Newlon considered this to be a possibility but would not make it a condition of any sale or purchase of the property as far as the City making any kind of commitment to the construction or funding of such a facility. He noted that due to the increase in construction costs due to the economy, the City would need to use any available funding for improvements to the property as parks space and not for construction of a museum somewhere on the property. There was brief discussion about potential historical items and artifacts that might be located in the residence, and it was noted that there was potential for those items to be loaned to Seminole County for display should they be deemed to have historical value. Commissioner Meadows reiterated that the City Commission had indicated an interest in purchasing the property with no strings attached, and he felt there were strings attached with each of the three options presented by the estate. Mr. Triece stated he and Mr. Newlon had several lengthy meetings with the family, noting that Mr. Newlon had made it clear the City Commission would have concerns about any options with strings attached. He stated that the family definitely wanted to sell the property, though, and he believed an agreement could be struck with them, depending on the timing. He believed the advice the family was being given from their consultants was to sell the property for development, but he and Mr. Newlon had discussed with them the benefits of pursuing a transaction with the City. Mr. Newlon reminded the Commission that if the projections for the General Fund were maintained and the City maintained its course with the economy staying as good as it currently is, it would be several years before the City would have a chance to really grow the fund balance reserves; therefore, making the purchase of this property would stress the budget and he wanted the Commission to be aware of this before making any decision to pursue acquisition of the property. However, if the City were able to make the purchase in installments it would allow the fund balance reserves to be preserved and hopefully replenish more than the conservative projections showed. He inquired whether the City Commission would agree by consensus that he should seek to reach some sort of installment purchase with the owners. Each of the Commissioners agreed this would be a more reasonable approach, similar to the one which had been taken with purchase of the golf course. B. Chan Property — There was no discussion on this item.