Item H3b
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: December 17, 2003
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval to purchase property in Conservation and Natural Areas - Largo City
subdivision 1 marketability of title waiver
Item Background: The Board has approved a contract to purchase the subject lot (Block 3, Lot 8,
Largo City subdivision) at a purchase price of $7,532.50. During the contract due diligence period, staff
conducted a title review and discovered the Seller acquired title at a tax sale on January 12, 2001 and
does not currently have marketable title. The Seller has declined to undertake the steps necessary to
eliminate the title defect. However, provided there are no claims filed by a third party prior to January
13, 2005, the title defect will be cured by the passage of time under the four-year statute of limitations.
Staff is requesting authorization from the Board to waive the marketability of title requirement and
accept the property title "as is" given the relatively low risk involved.
Advisory Committee Action: On November 24, 2003 the Advisory Committee voted 4/0 to approve
waiving the marketability of title requirement and accepting the property title "as is,"
Previous Governing Board Action: On August 20,2003, sitting as the BOCC, the Board adopted the
Conservation and Natural Areas Map. On September 17, 2003 the Board approved purchasing the
subject property.
Contract/Agreement Changes: N/A
Staff Recommendation: Approval
Total Cost: $ N/A
Budgeted: Yes
No
Cost to Land Authority: $ N/A
Source of Funds:
Approved By: Attorney ~ County Land Steward
Executive Director Approval:
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Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #3b
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