Fort Walton Beach Council agenda — 01-07-12 retreat — reading text

equaled or exceeded each year. Thus the 100 - year flood could occur more than once in a relatively short period ortime. The I 00 -year flood. which is the standard used by most Federal and state agencies, is used by the National Flood Insurance Program ( NFIP) as the standard for need plain management and to determine floe need for flood insura wn, A sloccone located , vim In tVNER a a special flood hazard area shown on an NFIP map has a 26 percent chance ofsnffering flood damage during the term ofa 30 -year mortgage. Zones B, C, vad X are the flood insurance rote zones that correspond m am., onside Ibe I 00 -year flood plains, s of 100 -year sbcet flow Flouting where ascmSo depths are Icss tiro,, I Foot wens of 100 -year Irream Flooding where the comribo. ing drainage area is Icss than I square mile, or areas protected from the I0o -vear flood by levees. No BFEs or depths are shown within this zone:' The unshaded Zone " X" on tine map applicable m the subject is further idet,ficd os " Areas determined ,, be outside the 500 -year, flood plain:' Zone VE is the flood insurance rate one that corresponds to the 100 -year coastal flood plains met have additional hazards cssoe, n,, d with star. waves. BEES derived from he detailed hydraulic analyses are sIm, ir at sdcncd inlurvels within this zone. Mandatory flood insurance purchase requirements apply. Packet Pg. 113  F-449 P., e. R Inman Cmmwo, ctl lot 25 Miracle Snip Parkway Fan wulnm wielt, Fiction Uses B& A File Nil 10094F lC Zones A2 and A I - A30 ere do, hood insurance tax zones that correspond m the 100 -yen, flood plains That arc determined in the Flood Insurance Study by detailed nomads. in most inamaces. Base Flood Blevatloms derived from the detailed hydraulic analyses are shown at selected intervals within this zone. Mandatory flood insurance purchnsc requirements apply. COBRA - Coastal Barrier Resource Act, No Fedemliy Lorded flood insnrance in it secs aa,, k, d \11MIM a,, flood maps. Improv,emenls: I nee a, a no site imprpvcmcnts. Site Exiattng Improvement Sae and Description: Thee are no improvements. The sbe is vacant. NT3nam Zoning: I he subject parcel is zoned HC- Highway Commercial by Fort Walton Beach, Florida. Anessed Value and Ad Vance. Taxes: The tax identification number, gross lax a near, der, and assessed value foryear2010 are below. This is City of Fort W alma Beach pmperry. There a,, no properly taxes. The assessment Is lypieal of the area and has no J N attiBcanl affect on market undur . l'az identiricatimn Number I Assessed Value Craaz Tax Amour, Due OC3 14 - 2S -24 -22113- 0006 -0030 S30 318 50 00 DU History: This pmperry is the site ofa former convenience stale that sold easollne. Ov04fi4 /199S, Happy Smres. Inc. MN sold the property to Leslie A. Andersen for S5 ) 0. 000 ( 2150NML The City of Fo, l W alma Beach sued Leslie A. . Andersen and Whitney Bank, successor by merge, to Dentin Bank and at al and was awarded Cenl5eam INfL of Tide bydw Okal... County Clerk u f Ccmtw. N., a. ba, 5. 2009, CASE NO 2009 -CA -00046 -S. The Loy of Fort W ulmn Beach paid S 149, 539 for one property ( 2918/ 3904) The underground fuel hanks have been removed but s no has not barn environmentally remcdiated_ IfieFort W alma Beach City Planar, provided Infornmaon from the Phase 11 Environmental repo" a o the cost he NT re medium the site and groundwater component t,, n v ,, ac table level far industrial u aTh, cost se are ton Groundwateo._S" 14, 3] B] 0 and industrial ric- S 134, 741 20 not total remedial cost of 5209, 114 90, rounded to $ 210, 000. Remedial dam and information is in the Addenda. ga0 We as not aware of anyotbcr market activity feature parcel in the preceding three years. cvE Current Use: The bj,,, property is vacant emnmerc in had, uR Q Adjacent Uses: Adjacent uses include residential and commercial acdvihcs- MARKET ANALV SIS FORT WALTON BEACH, FLORIDA DEMOGRAPHIC AND ECONOMIC ANALYSIS See Addenda. Packet Pg: 114  F449 Pafc 13 Vhcmn Commercial L. n 25 Mimde Svip Parkway Fro Wauon Bwrh Florida 12548 11 d A Fit. * 1l( m 4FJC HUGHES I' AND BEST USE ` AS VACANT" ASSUMING THAT THE SITE IS ENVIHONM ENTALLY HEMEDIA TED Oventew. Tire p,. piaty ns the sum of. former convenience store with underground fuel ranks. The Pool maks have been v. d, however, the rite bosom been cnvlronmcnmlly r, hr imed m industrial use standards. The Cty of Fort Walton City Pioneer provided an estimation of $210, 000 to immediate the site. The highest and best use recognizes the most prob. ble mes for the parcel, " as vacant" given the current market dcmond for commercial property in the market area particularly is the Oknloo. o County, Florida amo. Permissible: Legally The subject parcel is zoned IIC- Highway Commercial by FOn Writer Bench, Florida Possible: Physically The subject parcel is lend mad at road prude. Soul and saba. il conditions appear to be eo upmlble with d commercial development. All utilities needed for commercial use are presently at the location of the parcel. The size and dimensions of the parcel is sufficient to allow a wide variety of legally permissible uses_ I' he shape of the parcel is rectangular and does not limitutility. Transportation of construction materials or labor NJmtoc3rVad In the location 01The parcel is considered to be relatively simple due to the central location of the pn¢ el w Wila the overall market. Access to the parcel is good . liosvzveq all legal uses are physically possible to some cmmct_ Financially F. asmle: Demand for ial properties is moderate along major thoroughfares such as Mirada Strip. This is an older,sce, on of fair Walton Beach, Florid., and properties are recyCled to provide new busi nos vc: vua. that O3 provide goods and , c,, iacs to an increasing population. DU Themfore, commercial development is considered to be tinanclully feasible use Ntom Productive: Masimolly Cournearciol development will almostcertrmlybrmd the highest net return to the lend. This iseniphasizcdby a the faro thaunest conhpetinv parcels which are commercial zoned are located on or near major traffic arteries and conlntand substantially larger prices per SF than interior locations or minor traffic arteries. Therefore, cunum, ono l d... rh rairm is estimated to be the maximally productive use of the land assmoiug an environmental ten ccimiton m industrial use standards. CONCLESION OF HIGHEST AND BEST USE, " AS VACANT' Commercial development is considered to be the highest and best u ant," assuming