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Item H3 lAND AUTHORITY GOVERNING BOARD AGENDA ITEM SUMMARY Meeting Date: September 15, 2004 Bulk Item: Yes No X Department: Land Authority Agenda Item Wording: Approval to purchase Tract C, Porpoise Point subdivision on Big Coppitt Key as an affordable housing site. Item Background: The subject property consists of a 1.3-acre parcel at the corner of US 1 and Jade Drive on Big Coppitt Key. The property is zoned Suburban Commercial (SC) and consists of disturbed, mostly cleared land. With the exception of a billboard and perimeter fence, the property is vacant. The property's zoning allows for the development of up to 15 units of affordable employee housing. As of April 13, 2004, the County had 45 ROGO allocations available for affordable employee housing. The proposed development partner for this site is Habitat for Humanity of Key West and the Lower Florida Keys, Inc. The agenda packet includes the proposed purchase agreement and a spreadsheet indicating the legal description, purchase price, and estimated closing costs. Advisory Committee Action: On August 26, 2004 the Committee voted 5/0 to approve the acquisition. Previous Governing Board Action: None. Contract/Agreement Changes: NIA Staff Recommendation: Approval Total Cost: $541,880.00 Budgeted: Yes ~ No Cost to land Authority: $541,880.00 Source of Funds: Land Authority (Tourist Impact Tax and State Park Surcharge) Approved By: Attorney X County Land Steward _' Executive Director Approval: ~ . \ Pt- Mark J. Rosch Documentation: Included: X To Follow: Not Required: Disposition: Agenda Item LA #3 Property Purchase Price Porpoise Point Subdivision (PB5-118) Tract C $533,500.00 (Vellanti) PURCHASE CONTRACTS 09/15/04 Envr. Audit, Survey or Clean-up $5,000.00 Title Insurance $2,870.00 Attorney Fee $500.00 Recording Fee $10.00 Acquisition Total $541,880.00 AGREEMENT FOR THE PURCHASE OF LANDS THIS AGREEMENT is made and entered into this and between day of , 2004, is by Thomas A. Vellanti and Velia G. Vellanti hereinafter style the Seller(s), for themselves, their heirs, executors, administrators, successors and assigns, and the MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY (hereinafter, "Land Authority") acting by and through the Chairman of the LAND AUTHORITY. WITNESSETH: 1. In consideration of Ten Dollars ($10.00) in hand, paid by the LAND AUTHORITY, the receipt of which is hereby acknowledged, the Seller(s) agree to sell to the LAND AUTHORITY certain lands upon the terms and conditions hereinafter set forth, and for the price of $533,500.00 for all of the lands and other interests, which lands shall include all tenements, hereditaments, together with all water and other rights, easements, appurtenances and any and all of the Seller's rights in or arising by reason of ownership thereunto belonging, owned by them, situate and lying in the County of Monroe, State of Florida, more particularly described as follows; to-wit: Tract C, Porpoise Point Section 4 (PB 5-118) RE# 00155820-000000 2. The Seller(s) agree that they have full right, power and authority to convey, and thatthey will convey to the LAND AUTHORITY the fee simple title together with legal and practical access thereto clear, free and unencumbered, except subject to the following easements or reservations: Existing easements for canals, ditches, flumes, pipelines, railroads, public highways and roads, telephone, telegraph, power transmission lines and public utilities. The LAND AUTHORITY, at the LAND AUTHORITY'S expense, within the time allowed to deliver evidence of title and to examine same, may have the real property surveyed and certified by a registered Florida surveyor. If the survey discloses encroachments on the real property or that improvements located thereon encroach on setback lines, easements, lands of others, or violate any restrictions, contract covenants, or applicable governmental regulations, the same shall constitute a title defect. The LAND AUTHORITY, at the LAND AUTHORITY'S expense, within the time allowed to deliver evidence of title and to examine same, may have the real property inspected. If the inspection discloses the presence of hazardous materials or environmental contaminants on the real property, the same shall constitute a title defect. Seller may elect to remove any hazardous materials or environmental contaminants but shall have no obligation to do so. Seller(s) shall convey a marketable title subject only to the aforementioned liens, encumbrances, exceptions or qualifications set forth herein. Marketable title shall be determined according to applicable title standards adopted by authority of the Florida Bar and in accordance with law. The LAND AUTHORITY shall have sixty (60) days from the effective date of this Agreement to examine title. If title is found defective, the LAND AUTHORITY shall, within this specified time period, notify Seller(s) in writing specifying defect(s). If the defect(s) render title unmarketable the 1 Seller(s) will have one hundred twenty (120) days from receipt of notice within which to remove the defect(s), failing which the LAND AUTHORITY shall have the option of either accepting the title as it then is or rescinding the Agreement herein; thereupon the LAND AUTHORITY and the Seller(s) shall release one another of all further obligations under this Agreement. The Seller(s) will, if title is found unmarketable, use diligent effort to correct defect(s) in title within the time provided therefore but shall not be required to commence any lawsuits. 3. The Seller(s) further agree not to do, or suffer others to do, any act by which the value or title to said lands may be diminished or encumbered. 4. The Seller(s) further agree that during the period covered by this instrument officers and accredited agents of the LAND AUTHORITY shall have at all proper times the unrestricted right and privilege to enter upon said lands for all proper and lawful purposes, including examination of said lands and the resources upon them. In the event the LAND AUTHORITY's inspections damage said lands, the LAND AUTHORITY shall repair said damage. Further, the LAND AUTHORITY shall hold harmless and indemnify the Seller(s) from any cause of action by the LAND AUTHORITY or the LAND AUTHORITY'S agents resulting from said inspections. 5. The Seller(s) will execute and deliver upon demand of the proper officials and agents of the LAND AUTHORITY a good and sufficient deed of warranty conveying to the LAND AUTHORITY a safe title to the said lands of such character as to be satisfactory to the legal counsel of the LAND AUTHORITY and said deed shall provide that the use, occupation and operation of the rights-of- way, easements and reservations retained therein, shall be subordinate to and subject to such rules and regulations as may be prescribed by the LAND AUTHORITY governing the use, occupation, protection and administration of lands. 6. In consideration whereof the LAND AUTHORITY agrees that it will purchase all of said lands and other interests at the price of $533,500.00. The LAND AUTHORITY further agrees that, at closing, it will cause to be paid to the Seller(s) the purchase price by a check drawn on the account of the LAND AUTHORITY. The LAND AUTHORITY shall pay the following expenses associated with the conveyance of the property: deed recording fees, settlement fees, abstract fees, title examination fees, the Buyer's attorney's fees, and title insurance, as well as the prorata share of prepaid real property taxes allocable to the period subsequent to the vesting of title in the LAND AUTHORITY, or the effective date of possession of such real property by the same, whichever is earlier. The Seller(s) shall pay the expenses of documentary stamps to be affixed to the deed and the removal of trash, debris, and structures from the property, if any. Full possession of the premises shall pass to the LAND AUTHORITY as of the date payment is made to the Seller(s) subject only to the reservations stated in Paragraph 2 above. 7. It is mutually agreed that an abstract, title insurance policy or other evidence of title to the property herein contracted to be sold, satisfactory to the legal counsel of the LAND AUTHORITY will be obtained by the LAND AUTHORITY at its expense. The Seller(s) expressly agree herein to furnish to the LAND AUTHORITY any documents in Seller(s)'s possession establishing evidence of title including, but not limited to, abstracts, title commitments, title policies and opinions of title. 8. It is mutually understood and agreed that the LAND AUTHORITY may assign this Agreement. 9. It shall be the obligation of the Seller(s) to pay all taxes and assessments outstanding as liens at the date title vests of record in the LAND AUTHORITY, whether or not such taxes and assessments are then due and payable 2 10. It is mutually understood and agreed that notice of acceptance of this Agreement shall be given to the Seller(s) by mail addressed to the Seller(s) at the following address: 17750 SW 248 Street Homestead, FL 33031 Phone: 305-247-6623 and shall be effective upon date of mailing and shall be binding upon all of the Seller(s) without sending a separate notice to each, except as such obligation may be affected by the provisions of Paragraph 6 hereof. 11. With the exception of the existing ground lease for the billboard located on the subject property, the property shall be delivered at closing free of any tenant or occupancy whatsoever. The closing of this transaction shall be contingent upon the Land Authority securing an agreement with the billboard lessee for the removal of said billboard by a date certain acceptable to the Land Authority. 12. If the Seller(s) wish to proceed with this transaction, the Seller(s) have until September 2, 2004 to sign and return this Agreement to the LAND AUTHORITY. 13. The parties acknowledge that William T. Loewy and/or Habitat for Humanity of Key West and the Lower Florida Keys, Inc. have a valid contract to purchase the subject property. According:ly, this Agreement is contingent upon said parties terminating said contract and the associated deposit being returned to William T. Loewy and/or Habitat for Humanity of Key West and the Lower Florida Keys, Inc. It is understood that the Seller(s) are not holding the deposit but will release any claims against the deposit. 14. Seller Thomas A. Vellanti hereby discloses that he is a licensed real estate broker in the State of Florida. 15. This transaction shall close on or before December 30, 2004. IN WITNESS WHEREOF, the Seller(s) have hereunto signed their names and affixed their respective seals on the day first above written, with the understanding that this Agreement for Purchase cannot be executed by the LAND AUTHORITY until after it is reported to it for its consideration, and therefore the Seller(s) for and in consideration of the Ten Dollars ($10.00) hereinabove acknowledge as received, have and do hereby grant unto the LAND AUTHORITY or its authorized representative, or any other office or agent of the LAND AUTHORITY authorized to purchase said lands, the option and right to enter into this Agreement for Purchase within sixty (60) days from the execution thereof by the Seller(s), and to purchase said lands as herein provided. Seller/ Thomas A. Vellanti Signature Date Social Security Number Phone Number 3 Seller/ Velia G. Vellanti Signature Date Social Security Number Phone Number Brokerage Fees to be paid by the Seller(s): Listing Agent: Thomas A. Vellanti, 3% commission Cooperating Broker: Exit Realty, Agent George Walsh, 3% commission The MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY, acting by and through its CHAIRMAN, has executed this Agreement on behalf of the MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY this day of , 2004. ATTEST: MONROE COUNTY COMPREHENSIVE PLAN LAND AUTHORITY (Seal) Mark J. Rosch, Executive Director David P. Rice, Chairman 4 c3 5:~ 00::1 ....J u. w P~~ z~ o z <( o 5: o ....J U. U. o ~ ~ li; w Q~ o~ :::> o ~~ u. <( Q:O w....J~ 3~~ 90 :::> CI) 10 1. ,. 1. 10 11 . " 14 . ,. . 10 l' . ,. . 1. 4 7 .J <I: ,. 7 Z 14 . '4 . <I: . U .J . <I: 17 . l' 4 ,. a z <I: U 7 1. M . ,. .J 4 I <I: 1. 17 Z <I: U 11 12 . II 4 14 . 2 () o cO (\0 o 0 Mile Marker 10.6 Island Big Coppitt Key Property Porpoise Point Subdivision :} 'I i at ~ I -to- '.' f ~ ~ ~';..~.. l'll .~. ." . "~~:~"":'~\, ,t' '\ ~. ~ . ,. ..