CC Minutes 08/28/2006 - Laserfiche WebLink

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City Commission Meeting August 28, 2006 Page 9 Staff Presentation: The City received four contract proposals for the purchase of the Concord Center property. NAI Realvest, the City's professional real estate representative, recommended acceptance ofthe offer from the Mills family in the amount of $2,250,000 for the purchase of the Concord Center property. There were two appraisals conducted for the Concord Center properties in the amounts of $2,105,00 and $2,120,000. The purchase price paid by the City in 2005 was $2,250,00, which the Community Redevelopment Agency agreed to finance the debt service on a three-year loan. The property was declared surplus by the City on July 10,2006. The potential buyers are interested in renovating the Center for use as a Jazz Cafe', nursing school and nursing services. Facade improvements are planned as is removal of the storage structures at the rear of the site. Once the contract is executed, the buyer will have thirty (30) days to conduct their due diligence and then another fifteen (15) days to close. Initial deposit is $100,000. Staff Recommendation: Acceptance of the offer for purchase of Concord Center property from the Mills family in the amount of$2,250,000. The contract of sale for the Concord Center property has been reviewed and approved by the City Attorney. Audience Input: John Casselberry, 700 S. Lost Lake Lane, Casselberry, Florida, stated that the title to the shoreline at Lake Concord should remain with the City. Commissioners Doerner and Hufford opined that they did not have a problem looking at offers for the property, but it would be preferable to have the property utilized in conjunction with the development of the City Center property and the downtown project. MOTION: Moved by Commissioner Colleen S. Hufford to approve Resolution 06-1704, contract to Purchase the Concord Center to Jean-Yves Baptiste, Regine and Calvin Mills, as presented. Motion was seconded by Commissioner Linda Hart and carried on a 5 - 0 vote. 12. Other Items: A. Special Invoice and Minor Contract Report . Brown, Garganese, Weiss & D'Agresta, P.A. - City Attorney Services for July 2006 - $12,084.30 Akerman Senterfitt -City Labor Attorney Services for July 2006 - $8,512.00 . Budget Transfer from Fund Balance, Contingency Reserve and Special Legal Services Line Item to City Attorney, Labor Attorney and State Attorney's Office Line Items for Current Invoices and Any Additional Legal Expenses for Remainder of Fiscal Year 2006 - $113,600.00 MOTION: Moved by Commissioner Linda Hart to approve the Special Invoice and Minor Contract Report with budget transfer in the amount of$I13,600, as presented. Motion was seconded by Commissioner Susan Doerner and carried on a 5 - 0 vote. 13. Discussion Items - None