Item C2
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: January 18, 2001
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval of contracts to purchase property with Preservation 2000 funding -
Matecumbe Ocean Bay subdivision (contract amendment).
Item Background: On October 19, 2000 the Land Authority entered into a contract with Placid
Properties Ltd. to purchase a portion of Tract B, Matecumbe Ocean Bay subdivision in the Lower
Matecumbe Hammocks site of the CARL Florida Keys Ecosystem project. A survey of the property
indic,ates the presence of encroachments from the adjoining property owned by Fantasy Harbor
Condominium. Staff has consulted with the Division of State Lands and recommends excluding the
encroachment area from the property to be acquired and making a proportional reduction in the
purchase price. The proposed contract amendment would exclude a 15-foot strip of land, thereby
reducing the highway frontage to be acquired from 425 feet to 410 feet and reducing the purchase price
from $85,595.00 to $82,574.00.
The property's tax folio number, purchase price, and closing costs are included in the agenda packet
spreadsheet.
Advisory Committee Action: This item will be considered at the January 11, 2001 Advisory
Committee meeting.
Previous Governing Board Action: On October 19, 2000 the Board approved the original purchase
contract. On October 19, 2000 and November 3, 2000 the Board adopted Resolutions 08-2000 and 09-
2000 directing staff to make the expenditure of Preservation 2000 funds a top priority until January 1,
2001. .
Staff Recommendation: Approval
Total Cost: $83,610.37
Budgeted: Yes X
No
Cost to Land Authority: $83,610.37 .
Approved By: Attorney
Executive Director Approval:
~B~?~h
Risk Management
Documentation: Included:
To Follow: X
Not Required:
Disposition:
Agenda Item LA #2a
Property
Purchase
Price
Part of Tract 8, Section 2, on Lower Matecumbe
RE #396950-000100 $82,574.00
Placid Properties, Ltd.
PURCHASE CONTRACTS
01/18/01
Envr. Audit, Survey
or Clean-up
N/A
Title
Insurance
$617.50
Attorney
Fee
$412.87
Recording
Fee
$6.00
Acquisition
Total
$83,610.37
AMENDMENT TO AGREEMENT FOR THE PURCHASE OF LANDS
THIS AMENDMENT modifies that certain Agreement for the Purchase of Lands dated October
19, 2000 between Placid Properties Ltd., as Seller, and the Monroe County Comprehensive
Plan Land Authority, as Buyer.
The parties hereby mutually agree as follows:
1. Due to the presence of encroachments, a 15-foot strip of land shall be excluded from the
transaction in accordance with the revised legal description shown as Attachment A.
2. The purchase price shall be reduced from $85,595.00 to $82,574.00 reflecting the
reduction of land to be conveyed.
IN WITNESS WHEREOF, the Seller(s) have hereunto signed their names and affixed their
respective seals, with the understanding that this agreement is subject to approval by the LAND
AUTHORITY.
Placid Properties Ltd.
Seller( s)1
By: Arnold Caylor, Vice President
,2001
The MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY, acting by and through
its CHAIRMAN, has executed this agreement on behalf of the MONROE Co.UNTY
COMPREHENSIVE PLAN LAND AUTHORITY this day of .
2001.
ATTEST:
MONROE COUNTY COMPREHENSIVE
PLAN LAND AUTHORITY
(Seal)
Mark J. Rosch, Executive Director
Nora Williams, Chairman
ATTACHMENT A
REl\fAINDER PARCEL
A portion of Tract R, Matecumbe Ocean-Bay Subdivision, Section Two, on Lower
Matecurnbe Key, according to the plat thereof, recorded in Plat Book 2, at page 98, of the
Public Records of Monroe County, Florida, said portion being more particularly
described as follows:
The northeasterly 425.20 feet of the southwesterly 725.20 feet of the said Tract B, as
measured at right angles from the southwesterly boundary line of Tract B.
(As recorded in Official Record Book 1258 at page 515, Public Records of Monroe
County, Florida)
LESS and EXCEPT a Strip of Land, 15 feet in width, running along the southwesterly
boundary line of the above described parcel, said IS feet being measured at right angles
to and running parallel with said line, said Strip also abuts Fantasy Harbor Condominium
as recorded in Official Record Book 904 at pages 1482-1536, Public Records of Monroe
County, Florida.