Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 22-R132, Authorizing the Mayor or the City Manager to Enter into a Purchase and Sale Agreement with LTC Ranch Joint Venture and LTC Ranch Industrial/Commercial Park Master Property Owner’s Association for the City’s Purchase of Real Property and Utility Easements for Utility Purposes.
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Submitted By: Kevin R. Matyjaszek, Utility Systems Director
Strategic Plan Link: The City's Goal of a high-performing city government organization.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Utility Systems Department (“USD”)
2. Parties: City of Port St. Lucie and LTC Ranch Joint Venture, a Florida general partnership (“Seller”) and LTC Ranch Industrial/Commercial Park Master Property Owner’s Association (“POA”)
3. Purpose: To enter into a purchase and sale agreement with the Seller and POA for the acquisition of real property and utility easements in the Midway Business Park for utility purposes. Once the sale is completed, the City will convey an easement to the POA for on-going maintenance of a monument sign to be constructed on the real property the City is acquiring.
4. New/Renewal/Modified: New.
5. Duration: N/A.
6. Benefits to Port St. Lucie: The USD desires to acquire real property and utility easements in the Midway Business Park for a 30” raw water main and other utility purposes.
7. Cost to Port St. Lucie (Annual and Potential): $283,000 for the acquisition of Parcel 30 and the cost to construct a monument sign at the Midway Business Park, if the City closes by December 31, 2022. If the City closes after December 31, 2022, the City will owe additional money to the Seller at closing.
Presentation Information: N/A.
Staff Recommendation: Move that the Council approve the Resolution authorizing the Mayor or the City Manager to enter into the Purchase and Sale Agreement with LTC Ranch Joint Venture and LTC Ranch Industrial/Commercial Park Master Property Owner’s Association for the City to acquire real property and utility easements for utility purposes.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the Resolution authorizing the Mayor or the City Manager to enter into the Purchase and Sale Agreement with LTC Ranch Joint Venture and LTC Ranch Industrial/Commercial Park Master Property Owner’s Association for the City to acquire real property and utility easements for utility purposes.
2. Move that the Council not approve the Resolution authorizing the Purchase and Sale Agreement and provide staff with direction.
Background: The City desires to acquire real property and utility easements for an existing 30” raw water main and for the construction of a monument sign. Seller owns vacant property located northeast of Glades Cutoff Road and Delcris Drive where the USD installed a 30” raw water main and a 2” fiber optic line at the southern border of Parcels 30, 52, and Tracts “J” and “K.” Seller agreed to convey Parcel 30 and grant utility easements for Parcels 52 and Tracts “J” and “K”.
Issues/Analysis: The acquisition of Parcel 30 and easements on Parcels 52, Tract “J” and “K” is necessary to ensure ownership and access to the Utility’s facilities.
Financial Information: The City received an offer letter to purchase Parcel 30 in its entirety for $283,000 with a request for the City to construct a monument sign at Midway Road and LTC Parkway. The USD is interested in acquiring the entire Parcel 30, and utility easements on Parcel 52, Tract “K”, and Tract “J”. Account #431-1340-531-000-0000.
Special Consideration: Parcel 30 appraised at $289,300. As part of the purchase and sale agreement, the City agreed to construct a monument sign on Parcel 30. The Seller agreed to maintain the monument sign.
Location of Project: Midway Business Park along Glades Cut-Off Road and Delcris Drive.
Attachments: 1. Resolution; 2. Purchase and Sale Agreement and its Exhibits; 3. Location Map.
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: 8816
Legal Sufficiency Review:
Reviewed by Margaret M. Carland, Senior Deputy City Attorney. Approved as to Legal form and sufficiency by James D. Stokes, City Attorney.