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HomeMy WebLinkAboutV (C) Approval and Authorization for Staff to Finalize All Acquisition Requirements for the 29.25 Acre Poer Property Agenda 7-01-2003 center of Good Lfpj?g Item V C Mayor „� Commissioners S. Scott Vandergrift �% Danny Howell District 1 f ,cost, Scott Anderson, District 2 City Manazer ��: , i Rusty Johnson, District 3 Jim Gleason -'� "'" Nancy J. Parker, District 4 STAFF REPORT DATE: June 23, 2003 TO: The Honorable Mayor and City Commissioners FROM: Russ Wagner, AICP, Community Development Director SUBJECT: Poer Property Acquisition ISSUE: Should the Mayor and City Commissioners authorize Staff to complete the acquisition process for the 29.25 +/- acre Poer Property? BACKGROUND: On March 4, 2003, the City Commission approved an Agreement for Sale and Purchase of the 29.25 +/- acre Poer Property located adjacent to the Coca-Cola Property. This site offers an opportunity to assemble more land for residential development within the Crown Point PUD at a very reasonable cost compared to its potential sales value. DISCUSSION: On April 1, 2003, the City Commission authorized the City's development consultant, VHB, to prepare a Due Diligence Report to evaluate the development potential for this property. This study included an Environmental Constraints Analysis, a Phase I Environmental Site Assessment, and a Civil Engineering Site Analysis. Attached to this staff report are a few pages included within the Due Diligence Report identifying the location of the site, aerial photography, and topographical features map. Based upon the findings of the VHB Analysis, there are no obvious hazardous environmental constraints on the property. Approximately 3.3 acres of the site contain wetlands and 100-year floodplain area, leaving a net buildable area of approximately 26 acres. Only one gopher tortoise burrow was found, and no other flora or fauna constraint was identified. The site has a fair amount of topographic relief, which will require a similar amount of grading as on the Coca- Cola site. The site will need to provide its own stormwater management, although roadway and utility connections will be readily available from the adjoining Crown Point PUD. June 23, 2003 Honorable Mayor and City Commissioners Page 2 of 2 In summary, the Poer Property offers an excellent opportunity to expand the City's land holdings as part of the Crown Point PUD. Given the very reasonable purchase price of the property compared to its potential sales price, the City can expect to realize a significant return which will help pay down the original acquisition price of the Coke Property and help with infrastructure costs. STAFF RECOMMENDATION: Staff respectfully recommends that the Mayor and City Commissions authorize Staff to finalize all acquisition requirements for the Poer Property including the expenditure of funds to survey, annex, rezone, change land use and pay all obligations as part of the Agreement for Sale and Purchase. RBW/csa Attachments: Location Map Aerial Site Map Existing Contour Map O\Staff Reports\2003\SR03056 CC.tloc P\6082503\graphics\FIGURES6082503 LOCATION MAP2.0xa -- V 'y ii,:::, 1 ":77:_m_ - �, / M\, 2 ai ,t(ri / cm, 'Ai-- —� a I :Hs i '" cq N I\ H J /j" O ✓./N " Terethorm //" arvu ��qD� m POER PROPERTY �j'' / O " Z. Stogie Yemill //"" / T / O hmdevtld 0 F Q / g � J o /J _ .1 /`J -- . ;/ = In 3 r'� ? ' / 14.i' / /C , z l I I J O u, N m O m (n W rz Vanasse Hangen Brasilia,Inc. 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