HomeMy WebLinkAboutVII (D) Waiver of Closing Contingencies on Purchase from Poer Agenda 9-16-2003
Mayor eche Center o Good Lty
Y Commissioners Item VII D
S. Scott Vandergrift "-. '''�!_ Danny Howell, District 1
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Scott Anderson, District 2
City Manager Rusty
Johnson, District 3
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Jim Gleason Nancy J. Parker, District 4
MEMORANDUM
TO: The Honorable Mayor and City Commissioners of the City of Ocoee
FROM: Russell B.Wagner, Director of Community Development
DATE: September 9, 2003
RE: Poer Contract: Waiver of Contingencies
ISSUE:
Should the City Commission waive the contingencies in the Poer Contract and authorize the
Mayor and City Clerk to execute all documents necessary to close the transaction?
DISCUSSION:
The City has previously entered into a Purchase Agreement dated March 4, 2003 with Joanne
M. Poer for the purchase of property adjacent to the Ocoee Crown Point PUD (the "Contract").
The Purchase Price under the Contract is $236,500.00. The Inspection Period under the
Contract previously expired on July 2, 2003 and the City, at that time, elected to proceed with
the acquisition of the "Poer Property". However, the obligation of the City to close is conditioned
upon completion of the following on or before September 30, 2003: Annexation of the Poer
Property into the City and approval of an amendment to the Joint Planning Area Agreement
which brings the Poer Property within the JPA with an underlying residential land use
designation (collectively the "Approvals"). In the event the City has not obtained the approvals
by September 30, 2003, then the City may elect to terminate the Contract. In the event the
Contract is not so terminated,then closing would occur on or before October 30, 2003.
The Poer Property is currently located in unincorporated Orange County and is outside of the
Ocoee/Orange County Joint Planning Area. Further, the Poer Property is located within the
Winter Garden/Orange County Joint Planning Area. The County has previously indicated that
the Poer Property needs to be removed from the Winter Garden/Orange County JPA prior to
being placed in the Ocoee/Orange County JPA. The City staff has met with the Winter Garden
staff to discuss removal of the Poer Property from the Winter Garden/Orange County JPA.
While the Winter Garden staff did not have any specific objections with respect to the Poer
Property,there are other issues relating to the Ocoee and Winter Garden JPA boundaries which
were identified by Winter Garden for discussion in connection with the Poer Property. City staff
anticipates being able to successfully reach an agreement with Winter Garden for the removal
of the Poer Property from the Winter Garden JPA. However, it is not anticipated that such an
agreement will be reached prior to the September 30, 2003 Contract deadline or by the October
30,2003 closing date..
City of Ocoee• 150 N Lakeshore Drive•Ocoee,Florida 34761
phone: (407)905-3100•fax: (407)656-8504•www.ci.ocoee.fl.us
The Honorable Mayor and City Commissioners
September 9,2003
Page 2 of 2
The acquisition of the Poer Property is important to the overall development of the Ocoee
Crown Point PUD residential property and enhance the residential units proposed for the Ocoee
Crown Point PUD. It would also increase the number of units available to pay for the off-site
infrastructure costs. The economic consultants retained by the City also believe that the
acquisition of the Poer Property would be beneficial to the City. These reasons were addressed
more fully during the City's inspection period.
In order to avoid the risk of losing control of the Poer Property, staff is recommending
that the City Commission waive the closing contingencies and proceed to close notwithstanding
the location of the property in unincorporated Orange County and within the Winter Garden JPA.
Under a worse case scenario, the Poer Property could be developed either in Orange County or
in Winter Garden. However, we believe that an agreement will be reached with Orange County
and Winter Garden which would ultimately allow for the annexation of the Poer Property into the
City of Ocoee.
RECOMMENDATION:
Staff respectfully recommends that the Mayor and City Commissioners waive the contingencies
in the Agreement for Sale and Purchase between the City and Joanne M. Poer and authorize
the Mayor and City Clerk to sign all documents necessary to consummate a closing under the
terms of such Purchase Agreement.
O:1Staff Reports\20031SR03084.doc
Poer Property
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LEGEND ,i,
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Subject Property
i� zScale: 1 inch= 1000 feet
City of Ocoee Ownership 0 250 500 7501000 Feet
Ocoee Community Development Printed: February 2003
Department