File #: RES. NO. 2020-R-06    Version: 1 Name:
Type: Resolution Status: Failed
File created: 1/30/2020 In control: City Commission Regular Meeting
On agenda: 2/25/2020 Final action: 2/25/2020
Title: A Resolution of the City of North Port, Florida, Authorizing the Acquisition of Real Property Located on Talon Bay Drive in North Port, Florida and Described as Parcel Identification Number 0791080007; Providing for Filing of Documents; Providing for Conflicts; Providing for Severability; and Providing an Effective Date
Attachments: 1. Option Agreement including Exhibit A - Purchase & Sale Agreement, 2. Resolution No. 2020-R-06, 3. Purchase Agreement including Exhibits A & B, 4. PowerPoint Presentation, 5. Property Information Report, 6. Procurement Exemption Request Form
TO: Honorable Mayor & Members of the North Port Commission

FROM: Peter D. Lear, CPA, CGMA, City Manager

TITLE: Approve Resolution No. 2020-R-06 for the Option Agreement in the Amount of $10,000 and the Purchase Agreement in the Amount of $1,200,000 for the Purchase of Parcel ID 0791080007, for the Future Utilities Administration and Warehouse Facility and Authorize the City Manager to Exercise the Option Upon Approval of the Comprehensive Plan Amendment and Rezone.



Recommended Action

Approve Resolution No. 2020-R-06 for the Option Agreement in the amount of $10,000 and the Purchase Agreement in the amount of $1,200,000 for the purchase of Parcel ID 0791080007, for the future Utilities Administration and Warehouse Facility and authorize the City Manager to exercise the option upon approval of the Comprehensive Plan Amendment and Rezone.

Background Information

On April 9, 2019, Commission directed staff to move forward with negotiations for the purchase of the property located on Talon Bay Drive. This property consists of ?18.26 acres of land, described as Tract J of Talon Bay Unit One, according to the map or plat thereof as recorded in Plat Book 44, Page 18 of the Public Records of Sarasota County. Once staff was given the approval to start the negotiation process, development of the Option Agreement and Purchase Agreement ensued. Beginning in early May 2019, numerous emails, meetings and conferences have occurred with the neighboring developments, Talon Bay and LaCasa Mobile Home Park, resulting in several design and layout concessions on the Utilities' building and property.

The Option Agreement grants the City an exclusive option to purchase the property. The price for the option is $10,000, which shall be applied towards the purchase price of the property at the time of closing. The option term shall begin on the date the last party signs the Option Agreement and expires June 15, 2020 at 5:00 p.m. This will allow for the time needed for the requir...

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