Fort Walton Beach Council agenda — 04-23-13--regular — reading text

4.900% 98. 745 222, 176. 25 236,988. 00 N 240,000. 00 5. 000% 98. 745 TERM 26 07/ 01/ 2023 246, 862. 50 250, 000. 00 98. 745 5.5. 000%000% 07/ 0112024 N TERM 26 98. 745 256, 737. 00 TERM 26 07/ 01/ 2025 260, 000. 00 5. 000% 98. 745 271, 54815 N TERM 26 07101/ 2026 275, 000. 00 5. 000% 98. 330 285, 157. 00 n TERM 31 07101/ 2027 290, 000. 00 5. 000% 98. 330 299,906. 50 TERM _31 07/01/ 2028 305,000. 00 314, 656. 00 N 320, 000. 00 5. 000% 98.330 TERM 31 07/ 0112029 5. 000% 98. 330 329, 405. 50 TERM- 31 07/ 01/ 2030 335, 000. 00 98. 330 344, 155. 00 0710112031 350, 000. 00 5. 000% TERM- 31 4, 407, 395. 80 4, 470, 000. 00 Remaining Weighted Last Average Call Issue Date Date Maturity 05107/ 2013 12/ 20/ 2001 Series 2001 10. 5656 05/0712013 All Refunded Issues Pxket' 9 143  i i: z. a E m` EEE Vp u8 Vn0 pie PacKefP9- 144'::  F-15-1 AdOhL City Council of Fort Walton Beach CITY COUNCIL MEMORANDUM To: Michael D. Beedie, City Manager From: Michael Beedie, City Manager Date: April 23, 2013 Subject: Declaration of Surplus Property Behind 20 -70 Ready Avenue NW 1. BACKGROUND: 1. 1. The City of Fort Walton Beach owns a parcel in the Commerce & Technology Park that lies behind ( to the west of) 20 -70 Ready Avenue NW. 1. 2. The 4. 24 -acre parcel ( Parcel ID No. 17 -25 -24 -0000- 0001 -0000) is currently undeveloped with an Existing Land Use Classification of Vacant. The Future Land Use Classification of the parcel is Industrial. 13. The parcel is adjacent to U. S. Air Force property to the west and developed property to the east that is owned by various property owners. There is curently no access casement to the property other than a five ( 5) foot Gulf Power easement along the property line between 30 & 40 Ready Avenue NW. 1. 3. 1. 20 Ready Avenue LLC is the property owner of 20 Ready Avenue NW 1. 3. 2. Gale Industries, Inc. is the property owner of30 Ready Avenue NW 1. 3. 3. Batch Bros, is the property owner of 40 Ready Avenue NW 1. 3. 4. Paul S. & Majes Hsu is the property owner of 50 & 70 Ready Avenue NW 1. 4. Wetlands are prevalent on the southern half of the property, which makes developing this property by the City unlikely. 2. DISCUSSION: 2. 1. According to the Okaloosa County Property Appraiser' s website, the Assessed Value of the parcel is $ 1, 333, 480. It appears as if the City purchased the property in 1977 for 160, 000. 22. With the initiative to evaluate City -owned properties, Staff and the City Attorney developed a checklist for the disposition of surplus property. The first step in the process is for the City Manager to submit a report and recommendation to determine whether the property is unneeded. If City Council determines the property as excess property, an appraisal is required along with the manner in which the excess property will be disposed of. 2. 3. Staff has evaluated the vacant parcel on Ready Avenue NW and determined that the City has no existing or future development plans for the property. With the lack of access and the presence of wetlands on over half the parcel, Staff recommends that this Page I of 3 Packet Pg. 145  15. 1 parcel can be deemed excess property. 2.3. 1. Due to the distribution of ownership of the properties fronting Ready Avenue NW and adjacent to the City -owned parcel, Staff would also recommend that the parcel be subdivided into a 2.43 -acre parcel adjacent to 50 & 70 Ready Avenue NW and a 1. 81 - acre parcel adjacent to 20 -40 Ready Avenue NW. 2. 3. 2. Staff would also recommend the method of disposition as a Request for Proposals with negotiated sales by the City Manager and City Attorney upon receipt and evaluation of the proposals. 2. 4. If approved as excess property by City Council, Staff will proceed with obtaining an appraisal and advertising the competitive solicitation of the property. 2. 4. 1. Upon receipt of the proposals for the parcels, a contract for sale based on the negotiations will be drawn up and brought back to City Council for review and approval. If the sale is approved by City Council, an ordinance conveying the land is required. 3. FINANCIAL INFORMATION: 3. 1. The immediate cost to the City would be for the required appraisal of the parcels upon approval from City Council that the parcels are excess property. 3. 2. There will also be associated costs to advertise the competitive solicitation for the purchase of the parcels. 3. 3. It is estimated that the cost of the appraisal and the legal advertisements will not exceed 55, 000. The cost of the appraisal and the legal advertisements is available in the FY 2012 -13 General Fund Balance. 4. RECOMMENDATION: 4. 1. Staff respectfully recommends City Council declare Parcel ID No. 17- 25- 24 -0000- 0001 -0000, a 424 -acre City -owned parcel as excess property in accordance with Chapter 2.00. 05 of the City' s Code of Ordinances. 4.2. Staff also recommends City Council authorization to obtain one ( 1) independent appraisal of the property to determine the fair market value of the parcel. 4.3. Staff also recommends City Council authorization to issue a Request for Proposals along with the proper legal advertisements to obtain competitive proposals to purchase the property through a negotiated sale upon the receipt of the proposals by the City Manager and City Attorney. ATTACHMENTS: Disposition of Surplus Property ( PDF) PDT) City -Owned Property - Ready Avenue NW ( SIGNATURE BLOCK: Hayward Dykes Completed 04/ 18/ 2013 3: 45 PM Michael Beedie Completed 04/ 18/ 2013 4: 13 PM City Manager Completed 04/ 18/ 2013 4: 13 PM Page 2 of 3 PaEkekP A46  15. 1 City Council Pending Page 3 of 3 Packet Pg,. 147  F- 1 5.1. a DISPOSITION OF SURPLUSIEXCESS PROPERTY CHECK LIST FOR THE CITY OF FORT WALTON BEACH FLORIDA 1. The City Manager shall submit a report and recommendation to City Council for review and determination whether the parcel is unneeded for the immediate and future developmenduse requirements of the City and should be declared excess. Said City property cannot be in present use or have a future project plan. FWB Code 2.00.05 2. The City Council must determine that the City property is excess property. FWB Code 2. 00. 051 3. The City Manager shall secure one independent appraisal of the property by appraisers qualified to conduct appraisals for the State of Florida by general taw. FWB Code 2. 00.051 4. The City Council also determines the manner that the excess property is disposed of. including but not limited to sealed bid, auction and negotiated sale. FWB Code 2. 00.051 5. The City Manager shall cause written notice of intent to dispose of property to be sent to abutting property owners, if any, and advertised twice in the legal advertisement section in a newspaper having general circulation within the City: advising the date by which proposals or