Item K5b
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: December 18, 2002
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval to purchase property - Marathon lot RE #100550-000102/ Habitat for
Humanity of the Middle Keys, Inc.
Item Background: This acquisition is proposed to provide land for affordable housing. Habitat for
Humanity of the Middle Keys, Inc. (HFH) requests that the Land Authority purchase this vacant lot on
123rd Street Gulf in Marathon. Following purchase by the Land Authority, the Land Authority would
convey the lot to HFH for development with a single family homeownership unit. The subject lot is
10,000 sq. ft., zoned Improved Subdivision, and has vegetation classified as disturbed. The City of
Marathon will consider nomination of the property on December 11, 2002. This agenda item is limited
to the issue of purchasing the property. The decision to convey the property to HFH and the imposition
of deed restrictions will be addressed at a future Soard meeting.
The Land Authority's standard purchase contract will be used in this transaction, with the closing
contingent upon subsequent conveyance of the property to an affordable housing partner. The agenda
packet spreadsheet lists the purchase price and anticipated closing costs for this transaction.
Advisory Committee Action: On November 26, 2002 the Advisory Committee voted 4/0 to approve
the item, contingent upon nomination by the City of Marathon.
Previous Governing Board Action: None.
Contract/Agreement Changes: None - no prior contract with Seller.
Recommendation: Approval
Total Cost: $ 37,050.25
Budgeted: Yes X
No
Cost to Land Authority: $ 37,050.25
Approved By: Attorney ~
OMS/Purchasing
Risk Management _'
Executive Director Approval:
\j '6 0-
Mark J. Rosch
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #5b
Property
Vaca Key Acreage
RE#001 00550-0001 02
(Zomerfeld)
Purchase
Price
$33,000.00
PURCHASE CONTRACTS
12/18102
Envr. Audit, Survey
or Clean-up
Title
Insurance
$3,500.00
$289.75
1 of 1
Attorney
Fee
$250.00
Recording
Fee
$10,50
Acquisition
Total
$37,050,25
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Mile Marker
53.25
Island Vaca Key
Property Zomerfeld