HomeMy WebLinkAboutItem E(10) Authorize Sale of City Property (Public Works Fleet Yard) at 370 Enterprise Street, Ocoee, FL 34761; and Authorize Advertisement for Bid
AGENDA ITEM COVER SHEET
Meeting Date: January 18, 2005
Item # 10
Contact Name:
Contact Number:
Bob Zaitooni
6002
Reviewed By:
Department Director:
City Manager:
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Subject: Authorize sale of City property at 370 Enterprise Street and authorize advertisement for
sale
Background Summary:
City's fiscal year 04/05 budget contemplated sale of the existing Public Works Fleet property at 370 Enterprise Street
and to use the proceeds to build a new Public Works building and fuel station at Public Works property at 301 Maguire
Road. The property has been appraised at a value of$525.000.
Issue:
Authorization to sell the Public Works Fleet property at 370 Enterprise Street and approval of the advertisement for the
sale.
Recommendations
Staff is requesting City Commission to authorize the sale and approve advertisement for the sale of the property at 370
Enterprise Street.
Attachments:
Excerpts from the appraisal update
Financial Impact:
Property has been appraised. The proceeds from the sale of the property will be earmarked to be used to construct a
new Public Works building and fuel station at 301 Maguire Road.
Type of Item:
o Public Hearing
o Ordinance First Reading
o Ordinance First Reading
o Resolution
o Commission Approval
o Discussion & Direction
For Clerk's DeDi Use:
o Consent Agenda
o Public Hearing
~ Regular Agenda
o Original Document/Contract Attached for Execution by City Clerk
o Original Document/Contract Held by Department for Execution
Reviewed by City Attorney
Reviewed by Finance Dept
Reviewed by ( )
I /1 4/ () 5
I / Cl (IJ ~
D N/A
D N/A
D N/A
Commissioners
Danny Howell District 1
Scott Anderson, District 2
Rusty Johnson. District 3
Nancy J. Parker, District 4
Mayor
S. Scott Vandererift
City Manager
Robert Frank
STAFF REPORT
TO:
The Honorable Mayor and City Commissioners
FROM:
Bob Zaitooni, Director of Public Works
DATE:
January 10, 2005
RE:
Authorize the Sale of City Property at 370 Enterprise Street and Authorize Advertisement
for the Sale
ISSUE
Should the Honorable Mayor and City Commission authorize sale of the Public Works Fleet property at 370
Enterprise Street, and authorize staff to advertise the sale of the property?
BACKGROUNDIDISCUSSION
City's fiscal year 04/05 budget contemplated sale of the existing Public Works Fleet property at 370 Enterprise
Street and to use the proceeds to build a new Public Works building and fuel station at 301 Maguire Road. The
bid to construct new fuel station at 301 Maguire Road is currently being advertised.
Upon authorization for the sale of the property, staff recommends advertisement by signage, in local
newspapers, and on the City's TV channel and web site. A "sealed bid" process will be used with minimum bid
at the appraised value. The City will require having the option of leasing the property (depending on the terms
and costs) for a short-term period during the Fleet Facility relocation period.
Staff has obtained an appraisal update conducted by DeRango, Best & Associates in December 2004. The
appraised value as of December 21,2004 is $525,000.
RECOMMENDA nON
Staff respectfully requests the Honorable Mayor and City Commission to authorize the sale of the Public Works
Fleet property at 370 Enterprise Street and aauthorize advertisement for the sale of the property.
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APPRAISAL OF:
AN OFRCElWAREHOUSE PROPERTY
370 ENTERPRISE STREET
OCOEE, ORANGE COUNTY, FLORIDA
PREPARED FOR:
CITY OF OCOEE
MR. ROBERT B. ZArrOONI
DEPARTMENT OF PUBUC WORKS
301 MAGUIRE ROAD
OCOEE, FLORIDA 34761
PREPARED BY:
DERANGo. BEST &. AssocIATES
REAL ESTATE APPRAISERS. ADVISORS 50. CONSULTANtS
I eo I E'AST AMELIA STREEr
ORlANDO. FLORIDA 32803
(407) 895-6650
DANIEL R. DERANGe. MAl
ST.CERT.GEN.REA RZ 1054
PAUL S. WALlACE
REGISTERED TRAINEE RJ 5992
04-1016
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DERANGO, BEST & AsSOCIATES
REAL EsTATE APPRAISERS, ADvIsORS & CONsucrANTS
1601 EAsT AMEI.JI'. STREET. O~DO, FLORlo.o. 32803
December 22, 2004
Mr. Robert B. Zaitooni, P.E.,
City of Ocoee
Department of Public Works
301 Maguire Road
Ocoee, Florida 34761
RE: Appraisal of an OfficeJWarehouse property located at 370 Enterprise Street, Ocoee,
Orange County, Florida.
Dear Mr. Zaitooni:
As requested, we have conducted a complete appraisal of the above referenced property. The
purpose of our appraisal was to estimate the market value of the fee simple interest under current
market conditions. The intended use of our appraisal is for use in decision-making concerning the
property by the City of Ocoee.
The property is described and discussed in the attached self-contained appraisal report. Our
appraisal report has been prepared in conformance with the Uniform Standards of Professional
Appraisal Practice (USPAP), those of the Appraisal Institute, and FIRREA regulations as they pertain
to self contained appraisal reports.
As a result of our investigation and analysis, it is our opinion that the market value of the fee simple
interest in the property, as of December 21, 2004, was:
$525,000
Note: We have appraised the property under the assumption that it is free of any contamination.
We have not been provided with an environmental study as part of our assignment.
Please refer the reader to the attached appraisal report, plus exhibits, for documentation of the above
value estimate. We also direct your attention to the attached appraisal Special/General Assumptions
and Umiting Conditions upon which the above cited value condusion is contingent.
Respectfully submitted,
~ & AsSOCIATES
Daniel R. D~
St.CertGen.REA RZ 1054
/f2t;. ~
Paul S. Wallace
Registered Trainee RI 5992
04-1016
(407) 895-6650
FAX (407) 898-8467
MAJL@OERANGOBEST.COM
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APPRAISAL OF THE CITY OF OCOEE PUBLIC WORKS FACILITY
370 ENTERPRISE STREET
OCOEE, ORANGE COUNTY, FLORIDA
PAGE 1
EXECUTIVE SUMMARY
PROPERTY LOCATION:
The property is located along the south side of Enterprise Street,
within West Orange Indusbial Park, in Ocoee,Orange County,
Florida.
PROPERTY IDENTIFICATION: The property consists of a grade-level metal officelwarehouse
facility constructed in 1981. The building totals 4,692:t square
feet with approximately 1,092:t square feet (23%) being office
area. The site is 2.98:t acres. The property is used by the City
of Ocoee Public Works Department.
REPORT DATE:
December 22, 2004
REPORT TYPE:
Complete Appraisal; Self-Contained Report Format
EFFECTIVE DATE
OF APPRAISAL:
December 21, 2004
PURPOSE &
INTENDED USE:
Estimate the market value of the fee simple interest for the
property. The intended use is for use in decision making.
INTEREST APPRAISED:
Fee Simple Estate.
04-1016
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APPRAISAL OF THE CITY OF OCOEE PUBUC WORKS F ACIUTY
370 ENTERPRISE STREET
OCOEE, ORANGE COUNTY, FLORIDA
PAGE 2
HIGHEST AND BEST USE:
VALUE INDICATIONS:
ESTIMATED MARKET
VALUE:
SPECIAL ASSUMPTIONS:
04-1016
Officelwarehouse facility.
Cost Approach:
Sales Comparison Approach:
Income Approach:
$510,000
$520,000
$420,000
$500,000 (Includes excess land value of $240,000)
1. The property has historically been used for industrial
purposes and now includes a fuel pumping station as part
of the City operations. We have assumed for appraisal
purposes that there is no soil contamination or other
environmental issues associated with the property. We
know of no such conditions, but the detection of such
problems is beyond the scope of our expertise.
2. The property includes a fuel pumping station and above
ground storage tanks located on the northeast side of the
property. It is our understanding that these tanks were
recently moved from another location. They are considered
to be personal property which has not been-included in our
appraised value.
3. The office areas of the building were undergoing
renovation/remodeling at the date of our inspection. We
have assumed the remodeling will be completed shorUy and
in a good and workmanlike manner.