LEGISLATIVE ACTION ITEM
SPONSOR: Grover C. Robinson, IV, Mayor
SUBJECT:
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AIRPORT PROPERTY ACQUISITION - 3040 NEW HOPE ROAD
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RECOMMENDATION:
recommendation
That City Council authorize the purchase of 3040 New Hope Road (Parcel ID# 161S290805000002) from LB Park LLC for $105,500 along with closing costs of $1,900, and 5% contingency in the amount of $5,370 for a total amount of $112,770.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
The property located at 3040 New Hope Road is a 0.88 acre vacant lot within a wooded area off of Spanish Trail. It is totally surrounded by and only accessible via property owned by the Pensacola International Airport. The Airport was contacted by the property owner (LB Park LLC) expressing an interest in selling the parcel.
In an effort to prevent future access issues, and in effort to prevent the use of the property for a purpose that might be incompatible with the Airport, Airport Staff recommends the purchase of the same. After discussions with the property owner, an offer was made based on a fair market value appraisal. The offer was subsequently accepted by the property owner.
The purchase price, closing/miscellaneous costs, and 5% contingency are detailed in the estimated costs for the property.
PRIOR ACTION:
N/A
FUNDING:
Budget: $ 112,800
Actual: $ 105,500 Purchase Price
500 Title, Examination, and Issuance
500 Recording and Doc Stamps
400 Legal Fees
500 Estimated Survey
$ 107,400 Sub-Total
5,370 5% Contingency
$ 112,770 Total
FINANCIAL IMPACT:
Sufficient funding is available in the Airport Fund Capital Improvement Account.
CITY ATTORNEY REVIEW: Yes
4/11/2019
STAFF CONTACT:
Christopher L. Holley, City Administrator
Daniel E. Flynn, Airport Director
ATTACHMENTS:
1) Appraisal Report N219-0020
2) Aerial Map, 3040 New Hope
3) Purchase Contract, 3040 New Hope Road
PRESENTATION: No end