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CASSELBERRY CITY COMMISSION Minutes of December 14, 2020 — Regular Meeting Page 11 of 22 "A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING THE EXECUTION OF A SIXTH AMENDMENT TO THE ACQUISITION AGREEMENT AND OPTION TO PURCHASE BETWEEN CASTO CASSELBERRY, LLC AND THE CITY OF CASSELBERRY; PROVIDING FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE." Staff Presentation: City Manager Randy Newlon stated that Resolution 20-3217 provides for the Sixth Amendment to the Acquisition Agreement and Option to Purchase with Casto Casselberry, LLC. The Fifth Amendment expires on December 31, 2020. The Sixth Amendment was submitted to the City Commission for consideration at its August 24, 2020 regular City Commission meeting and proposed extending the expiration date of the Acquisition Agreement and the option to purchase the 2.6 acre parcel on Lake Concord north of the Police Station at the set price of $183,250 per acre from December 31, 2020 until August 31, 2021. The only change in terms to the existing agreement was the expiration. However, after Commission discussion, the item failed approval. Mr. Newlon explained that the Sixth Amendment is now being re -submitted to the City Commission for further consideration., but rather than extending the agreement for three years, this request is for only one year. If approved, the agreement would expire on December 31, 2021 and the option to purchase the subject property would remain in effect continuing the agreed terms. Discussion: Mr. Jim Conroy, Executive Vice President of Development for Casto Casselberry, LLC, gave an overview of Casto's position and reasons for the extension request, citing difficulties in marketing the property due to slowing of economic development and expansions of businesses due to the COVID-19 pandemic and competition with Altamonte Springs for marketing of new restaurants and businesses. He noted that the original request for an additional three years may have been too much, but was hopeful that a one-year extension would give allow for a better idea of what the market and economic development in the area would look like in twelve months as a result of the pandemic. In response to questions regarding the lack of development on the south parcels, Mr. Conroy shared details about the efforts Casto had made to market the parcels and the difficulties that had been encountered. He also advised that Casto was not currently marketing the north parcel as they did not have ownership and did not know how the police department property may be marketed, so it would be premature at this time. He thanked the Commissioners for their earlier approval of the Lake Concord Park Commercial Subdivision final plat which included the Sun Ti List site, and also for their consideration of his request for a one-year extension. Budget Impact: There is no impact to the City Budget. Recommendation: The City Manager recommended consideration of Resolution 20-3217. Audience Participation: No one came forward to address Resolution 20-3217. MOTION: Commissioner Aramendia moved to approve Resolution 20-3217, as presented. Motion was seconded by Commissioner Meadows. Motion fLiled by voice vote 2-3, Commissioners Busch, Meadows and Aramendia dissenting.