DEPARTMENT MAKING REQUEST
Budget & Admin Services
Title
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Acquisition of 80-acre Property, Burnt Store Road (Community Services)
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REQUESTED MOTION/ACTION
recommendation
Recommended Action:
Authorize the Chairman to execute the Purchase Agreement for the acquisition of an 80-acre property located within the Burnt Store Road Area Corridor on behalf of Community Services.
**Change, Added attachments (3), 10/3/2024**
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budget
Budgeted Action:
No action needed. A 1st quarter budget adjustment will be brought to the board for approval upon execution of the purchase agreement. Funding is available using reserves within the Capital Projects Fund, ad valorem. The project will be part of the FY26 budget process and identified on the Capital Needs Assessment.
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BACKGROUND (Why is this Action Necessary, and What Action will be accomplished)
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Background:
The attached purchase agreement is for the acquisition of an 80-acre property located at 12421 Burnt Store Rd, Punta Gorda, 33955 on behalf of Community Services for future department needs.
Community Services has requested the assistance of Real Estate Services in the acquisition of a parcel for the future use of Community Services - Parks and Recreation.
Two appraisals have been completed as required by Florida Statute 125.355 when the value exceeds $500,000. These two values were $3,900,000 and $7,250,000, with an average valuation of $5,575,000. The proposed agreement for 12421 Burnt Store Rd is $7,250,000, which exceeds the average value as determined by the appraisals.
Florida Statute 125.355 allows acquisition to exceed the average appraised valuation with an extraordinary vote by the Board of County Commissioners.
County staff has reviewed this proposal for acquisition and request approval by the Board of County Commissioners.
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