HomeMy WebLinkAbout2002 02 11 Informational B HCCH Closing
COMMISSION AGENDA
ITEM B
Consent
Informational X
Public Hearing
Regular
February 1 L 2002
Regular Meeting
Mgr. / ~ Att.
/
Dept.
REQUEST:
Receivt information regarding the HCCH Closing.
PURPOSE:
Informing the City Commission ofthe closing regarding the former HCCH Property which the City
acquired pursuant to the Contract for Sale and Purchase and the Settlement Agreement approved by
the City Cominission. - . . ..
APPLICABLE LAW AND PUBLIC POLICY:
None
CONE'IDERATIONS:
The City Commission previously approved a Settlement Agreement and Contract for Sale and
Purchase which required the City to purchase a 7.75 acre tract of property from the Health Care
Center for the Homeless, Inc. (HCCH).
Under the Contract for Sale and Purchase, closing was required and scheduled for fifteen (15) days
after the due diligence period expired, provided the City found that:
1. The Title Commitment indicated that HCCH owned the property, free and clear of
encumbrances.
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2. The appraisal confirmed the fair market value of the property was not less than Two
Hundred Sixty Five Thousand Dollars ($265,000.00).
3. The environmental assessment did not contain environmental conditions that would
prevent the use of not less than 3.2 acres of the subject property under the City's C-2
zoning district.
During due diligence, the City found:
1. HCCH owned the property, free and clear of encumbrances.
2. The appraisal prepared for the City by Pinel & Carpenter, Inc., dated October 29,
2001, appraised the property at Two Hundred Sixty Five Thousand Dollars
($265,000.00).
3. By letter from David Dewey, Director of the St. John's River Water Management
District, dated November 6,2001, St. John's confirmed:
a) The wetland line provided by HCCH is valid until March 12,2006 (resulting
in not less than 3.2 acres of usable uplands).
b) Based on a November 5, 2001 inspection ofthe Property, no violations of the
District's environmental Resource Permit rules exist on the Property.
With the conjitions of closing satisfied. pursuant to the Contract,closing_occurred-onDecember-J9, _ _ __
2001. Under Paragraph 2 of the Settlement Agreement, the Settlement Sum paid by the City was
Three Hundred Thousand Dollars ($300,000.00).
STAFF RECOMMENDATION:
N/A
/
. ATTACHMENT:
None
COMMISSION ACTION:
None required.
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