Approve the contract to sell 500 Orange Avenue in the amount of $139,000 to 4616 Investment LLC.

Staff seeks approval to execute a purchase agreement for real property located at 500 Orange Ave for the property commonly known as the Historic Fort Pierce Post Office.  It should be noted that this property is on the National Historic Register and has restrictive covenants that run with the land from when the United States Post Office deeded it to the City of Fort Pierce.  The deed and Memorandum of Agreement outlining the restrictive covenants are attached.  In essence, the building's exterior cannot be altered in any way that would detract from the structure as it exists and was listed on the National Register.   The City recognizes and hereby incorporates all aspects of the agreement. The mural that was transferred "Osceola Holding Court" will remain with the City, where it is displayed in the Lobby.   

Four offers were received that offered less than 4616 Investment LLC Proposal, ranging from $110,000-$135,000.  One offer was for $160,000 but did not offer a well defined vision for the use of the building. 

In Staff's discussion, the proposal supported by Staff offered:

• A well defined vision of the building, with substantive experience from the buyers in a thorough addendum complete with a picture of what the property could be transformed as. 
• Buyers live in Fort Pierce 
• Supports the vision of the local residents who's top importance is Supporting the Arts through Museums, Music and Culture (Orange Ave Report, page 3) as well as the residents did not want to see additional dollar stores, auto parts lawyer offices and bail bonds (Orange Ave Report, page 8). 

Therefore, Staff recommends the City Commission approve the offer from 4616 Investment LLC in the amount of $139,000.00.  If approved, the Mayor would sign the sales agreement, once a deposit is received and a closing date is set - Staff will come back with a Resolution authorizing the sale and ensure advertising to conform with the Charter requirements. 

Please note the Memorandum of Agreement with the USPS requires a 90 day notice to the federal government of the sale of the building. If the sales contract is approved, Staff will ensure the notice is completed to be in compliance with the Memorandum of Agreement.

Approval of the proposal from 4616 Investment LLC 

Provide Staff direction on a counter offer with 4616 Investment LLC
Reject the offer

Rebecca Grohall, AICP Planning Director 

Nicholas Mimms, City Manager
Tony Barnes, Director