LEGISLATIVE ACTION ITEM
SPONSOR: Ashton J. Hayward, III, Mayor
SUBJECT:
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SUPPLEMENTAL BUDGET RESOLUTION NO. 18-24 - APPROPRIATING FUNDING IN CONNECTION WITH THE SALE OF 113 NORTH “C” STREET - FORMER BLOUNT SCHOOL PROPERTY.
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RECOMMENDATION:
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That City Council adopt Supplemental Budget Resolution No. 18-24.
A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND APPROPRIATIONS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2018; PROVIDING FOR AN EFFECTIVE DATE.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
On September 20, 2011, the City acquired and subsequently demolished, the former Blount School building for the purpose of developing infill housing, utilizing Community Development Block Grant (CDBG) funds. The property is 2.65 acres and zoned R-1A for medium density residential land use. The intent is to provide the property for infill development of workforce housing through programs delivered by the City of Pensacola Housing Division. Redevelopment of this property will include single family detached, market based housing with a park-like amenity and enhanced storm water infrastructure. Design of the homes will be developed to fit the character of the neighborhood, enhance the housing product and provide for increased private sector reinvestment. Specifics for this zoning and land use are cited in the Land Development Code Section 12.2.4. The negotiated Development Agreement will include design stipulations and criteria to meet these goals.
The City subsequently issued a Request for Proposals (RFP) #17-021 for the sale and redevelopment of the former Blount School property. On June 8, 2017 Council authorized the Mayor to negotiate and execute a contract and development agreement with ParsCo, LLC, with the stipulation that the green space for a common area be omitted.
On December 14, 2017 City Council approved the contract between ParsCo and the City of Pensacola for sale and development agreement of the property located at 113 North “C” Street (Parcel ID number 00-0S-00-9080-001-018) and that 100 percent of the proceeds, after costs associated with the final transaction, is allocated to the Housing Initiatives Fund.
PRIOR ACTION:
September 8, 2011 - City Council approved acquisition of the property located at 113 North “C” Street
March 22, 2012 - City Council approved the Interlocal Agreement with Escambia County providing for the assisted demolition/clearance of the Old Blount School property.
June 14, 2012 - City Council approved the award of bid for the demolition of the former Blount Middle School.
January 12, 2017 - City Council declared as surplus the property located at 113 North “C” Street and authorized the Mayor to dispose of the property through a Request for Proposals.
June 8, 2017 - City Council authorized the Mayor to negotiate and execute a contract and development agreement with ParsCo, LLC.
December 14, 2017 - City Council approved the contract and sale of 113 North “C” Street and allocated one-hundred percent of the proceeds, after costs associated with the final transaction, to the Housing Initiatives Fund.
FUNDING:
Budget: $ 126,667
Actual: $ 126,667
FINANCIAL IMPACT:
One-hundred percent of the proceeds from the sale of 113 North “C” Street, after costs associated with the final transaction, will be allocated to the Housing Initiatives Fund. Approval of the supplemental budget resolution will appropriate the proceeds in the Housing Initiatives Fund.
CITY ATTORNEY REVIEW: Yes
6/28/2018
STAFF CONTACT:
Eric W. Olson, City Administrator
Keith Wilkins, Assistant City Administrator
Richard Barker, Jr., Chief Financial Officer
ATTACHMENTS:
1) Supplemental Budget Resolution No. 18-24
2) Supplemental Budget Explanation No. 18-24
PRESENTATION: No end