Item L2a
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: May 21, 2003
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval to purchase property - Key Largo Park subdivision.
Item Background: This purchase is proposed to protect property rights and natural resources. Key
Largo Park subdivision is located at MM 100.5 on the bays ide of Key Largo. The subject property
consists of 4 tropical hardwood hammock lots (0.4 acre) zoned Suburban Commercial (SC) and is
adjacent to 10 hammock lots already under contract for purchase by the Land Authority. The property
would score poorly in ROGO due to environmental sensitivity. Acquisition of this site will protect native
habitat, retire commercial development rights, preserve greenspace along US-1, and provide a highway
buffer for the residents of the Key Largo Park neighborhood.
Due to the developed nature of the surrounding area, land stewardship needs for this property are
anticipated to be moderate and will likely involve removal of invasive exotic plants and solid waste and
installation of a perimeter fence.
The Land Authority's standard purchase contract will be used for this transaction, with the closing
contingent upon the Land Authority acquiring the adjoining 10 lots. The agenda packet spreadsheet
lists the legal description, purchase price, and estimated closing costs.
Advisory Committee Action: On April 24, 2003 the Advisory Committee voted 4/0 to approve the
proposed purchase.
Previous Governing Board Action: On March 19, 2003 the Board approved purchasing the 10 lots
adjacent to the subject property.
Contract/Agreement Changes: NIA
Staff Recommendation: Approval.
Total Cost: $ 80,941.50
Budgeted: Yes --L No
Cost to Land Authority: $ 80,941.50
Source of Funds: Land Authority
(Tourist Impact Tax and State Park Surcharge)
Approved By: Attorney ~
Executive Director Approval:
County LanMteward ~.
.^'\ '\ ~ "'---
\ ~ark J. Rosch
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #2a
Property
Purchase
Price
Amended Plat of Key Largo Park (PS 3-62)
Slack 7, Lots 1, 2, 27 and 28 $75,000.00
(Fucik)
PURCHASE CONTRACTS
05121103
Envr. Audit, Survey
or Clean-up
$5,000.00
1 of 1
Title
Insurance
$560.00
Attorney
Fee
$375.00
Recording
Fee
$6.50
Acquisition
Total
$80,941.50
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KEY LARGO
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