Okaloosa County BOCC — April 7, 2015 — IOOF Property - Purchase Approval — agenda request

BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: April 7, 2015 TO: Honorable Chairman and Members of the Board FROM: Jeff Littrell SUBJECT: IOOF Property - Purchase Approval DEPARTMENT: Water and Sewer BCC DISTRICT: 3 STATEMENT OF ISSUE: Staff requests that the Board of County Commissioners (BCC) approve the purchase of the Independent Order of Odd Fellows (IOOF) property and authorize the Chairman to execute a Resolution, Contract for Sale & Purchase, and all Closing Documents. The purchase price is $230,000 (plus closing costs) for approximately .52 acres of land. BACKGROUND: At the 9/16/2014 BCC meeting, the Board approved the purchase of the .52 acre parcel owned by the IOOF, and authorized the Chairman to execute the closing documents. Since then, time has passed and we have negotiated a contract with the seller with an anticipated closing of May 15, 2015. It is possible that the actual closing date may be later than May 15, 2015. This is a parcel that Water & Sewer has leased for additional parking since 1994. An independent appraisal has been completed and the value of the land was deemed to be $230,000. The parcel is depicted on the attached aerial photo. Therefore, for your consideration and approval today is a Resolution regarding the purchase of the property. With this Resolution, the BCC would be: 1) approving the attached Contract for Sale and Purchase, and authorizing the Chairman or Vice-Chairman to execute, 2) authorizing the Chairman or Vice-Chairman, or their designee to execute and deliver any and all documentation related to the closing documents, and 3) authorizing the Chairman and County staff to perform the requirements of the Contract for Sale and Purchase and this Resolution. For example, should a time extension be necessary, the Chairman or Vice-Chairman, or their designee, is authorized to execute such an extension. County Contract Review has been completed and the Coordination Sheet is attached for your review. The attached Contract for Sale and Purchase agreement stipulates the closing will occur by May 15, 2015. Nabors, Giblin, and Nickerson is functioning as retained counsel and the title/escrow agent. After closing occurs, OCWS intends to have the building demolished and utilize the property for additional parking. OPTIONS: Approve or deny. RECOMMENDATIONS: Staff recommends BCC approval of the IOOF property at a purchase price of $230,000 (plus closing costs) and authorize the Chairman to execute a Resolution, Contract for Sale and Purchase, and all Closing Documents. RECOMMENDED BY: APPROVED BY: John Hofstad, County Administrator