8.b.
FPRA Regular Meeting Agenda
- Meeting Date:
- 10/17/2016
- Re
- Purchase Contract for 301 S. Ocean Drive
- Submitted For:
- Rebecca Grohall
SUBJECT:
Approve Purchase Contract for 301 S. Ocean Drive in the amount of $799,000.
SUMMARY:
Staff seeks approval to execute a purchase agreement for the property located at 301 S. Drive, sometimes referred to as "Gallery 34949, Inc". This property represents a long term parking solution for the City. Currently, the City leases an unpaved lot on Seaway Drive, however, that is a limited duration lease. The property at 301 S. Ocean Drive has a tenant and currently pays $2,000 a month lease (this leasing agreement can be transferred to the City) plus the property on the western half can be utilized in the short term as an unimproved surface lot.
This site was the top rated choice from the consultant Walker Parking Solutions (their report is attached). Also, during an interactive voting session at the June 2016 Parking Workshop, this site was the highest ranked by participants, and participants were almost unanimously in favor of acquiring property to meet parking needs.
This site was the top rated choice from the consultant Walker Parking Solutions (their report is attached). Also, during an interactive voting session at the June 2016 Parking Workshop, this site was the highest ranked by participants, and participants were almost unanimously in favor of acquiring property to meet parking needs.
RECOMMENDATION:
Approval
ALTERNATIVES:
Provide Staff direction on a counter offer
Reject the contract
Reject the contract
RESPONSIBLE STAFF:
Rebecca Grohall, AICP Planning Director
COORDINATED WITH:
Johnna Morris, Finance Director
Nicholas Mimms, City Manager
Nicholas Mimms, City Manager
Fiscal Impact
- Budgeted Y/N:
- N
- Fiscal Year:
- 2017