HomeMy WebLinkAboutAgenda - 10-15-2013 - 7b1
ORD- 2013 -038
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: October 15, 2013
Action Agenda
Item No. 7 -b
SUBJECT: SportsPlex Property Purchase and Sale Agreements and Approval of Budget
Amendment #2 -C
DEPARTMENT: Asset Management Services PUBLIC HEARING: (Y /N) No
ATTACHMENT(S): INFORMATION CONTACT:
Site Locator Jeff Thompson, (919) 245 -2658
PURPOSE: To:
• authorize the Interim Manager and Chair to execute a Purchase and Sale Agreement
between the County and the sellers of property adjacent to the Orange County
SportsPlex;
• execute the necessary paperwork to close the transaction no later than 30 days after the
agreements are fully executed, subject to final County Attorney approval; and
• approve Budget Amendment #2 -C in the amount of $382,000 to fund the transaction
from the General Fund Unassigned Fund Balance.
BACKGROUND: In the spring of 2013, the Board authorized the County Manager to enter into
discussions with two property owners regarding three properties adjacent to the SportsPlex that,
if acquired by the County, could provide parking and future expansion area for the SportsPlex.
The County is complete with its title, soils, environmental, cultural, and archaeological due
diligence regarding the three parcels adjacent to the Orange County SportsPlex. All reports in
these areas are satisfactory. The closing survey is forthcoming and will be complete prior to
closing.
Appraisals from a mutually agreed upon Appraiser, John McBrayer of Williams Appraisals,
indicate the following fair market value:
1. $190,000 for the 1.5 acre Wesley and Alice Woods property, or $126,667 per acre.
2. $170,000 for the 1.36 acre McCauley property, or $125,000 per acre.
Each owner has vertical house structures on the property that may be of some use to the
SportsPlex during the development and construction phases of its expansion. The structures
may also be candidates for relocation and adaptive re -use for affordable housing.
The sellers of the properties have agreed to sell the County the properties for the following
sales prices:
1. $200,000 for the 1.5 acre Wesley and Alice Woods property;
2. $182,000 for the 1.36 acre Gene McCauley property.
FINANCIAL IMPACT: The total purchase price is estimated at $382,000. Final settlement
costs are estimated at $1,500 and will be determined by the closing Attorney. The acquisition of
the properties will be made with an appropriation of $382,000 from the General Fund
Unassigned Fund Balance. The General Fund Unassigned Fund Balance is approximately
$36.5 million. With approval of Budget Amendment #2 (also on the October 15, 2013 Board
agenda), $215,539 will have been appropriated from the Unassigned Fund Balance prior to this
proposed action to appropriate $382,000.
Settlement costs will be paid from existing budgeted funds within the SportsPlex Enterprise
Fund.
Budget Amendment #2 -C is as follows:
Sportsplex Enterprise Fund ($382,000)
Revenues for this oroiect-
Annronriated for this oroiect-
Current FY
2013 -14
FY 2013 -14
Amendment
FY 2013 -14
Revised
Sportsplex Revenues
$2,882,210
$0
$2,882,210
From General Fund
$376,450
$382,000
$758,450
Appropriated Fund Balance —
S orts lex Fund
$710,000
$0
$710,000
Total Project Funding
$3,968,660
$382,000
$4,350,660
Annronriated for this oroiect-
RECOMMENDATION(S): The Interim Manager recommends the Board:
• authorize the Interim Manager and Chair to execute the Purchase and Sale Agreement
between the County and the Sellers of property adjacent to the Orange County
SportsPlex;
• execute the necessary paperwork to close the transaction no later than 30 days after the
agreements are fully executed, subject to final County Attorney approval; and
• approve Budget Amendment #2 -C in the amount of $382,000 to fund the transaction
from the General Fund Unassigned Fund Balance.
Current FY
2013 -14
FY 2013 -14
Amendment
FY 2013 -14
Revised
Personnel Services
$1,188,305
$0
$1,188,305
Operations
$1,710,355
$0
$1,710,355
Capital
$1,070,000
$0
$1,070,000
Land & Associated Costs
$0
$382,000
$382,000
Total Costs
$3,968,660
$382,000
$4,350,660
RECOMMENDATION(S): The Interim Manager recommends the Board:
• authorize the Interim Manager and Chair to execute the Purchase and Sale Agreement
between the County and the Sellers of property adjacent to the Orange County
SportsPlex;
• execute the necessary paperwork to close the transaction no later than 30 days after the
agreements are fully executed, subject to final County Attorney approval; and
• approve Budget Amendment #2 -C in the amount of $382,000 to fund the transaction
from the General Fund Unassigned Fund Balance.
3
McCauley Property t
1.36 acres
Appraised Value - $170,00 ($125,000 /acre)
Contract Price - $182,000 ($133,824/acre)
70A
s
ION
07-1irinnrila Sn CPlaY
Woods Property
1.5 acres
Appraised Value - $190,000 ($126,667/acre)
Contract Price - $200,000 ($133,334/acre)
Woods Property Parcels
QMcCauley Properties City Limits
N 0 50
MENEM== Feet
Orange County Planning and Inspections Department
GIS Map Prepared by Brian Carson. 10/4/2013