Placement: Second Reading of Ordinances / Public Hearing
Action Requested: Motion / Vote
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Ordinance 22-07, Public Hearing, Authorizing the Conveyance of Eight (8) City-Owned Residential Vacant Property Lots Located in the Tesoro PUD to RM Tesoro LLC, in Accordance with a Land Swap Agreement.
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Submitted By: David Graham, Assistant City Manager.
Strategic Plan Link: The City's Goal of a high-performing city government organization.
Executive Summary (General Business): The City Council is requested to approve an ordinance conveying eight City-owned vacant residential property lots in the Tesoro PUD (Attachment 1) in accordance with a Land Swap Agreement (Attachment 2) to enable a trade for two "open space" parcels owned by RM Tesoro LLC, located on the west side Southbend Blvd. within the Tesoro PUD.
Presentation Information: Staff will be available to respond to questions as may be needed.
Staff Recommendation: Move that the Council approve the Ordinance.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the Ordinance.
2. Move that the Council provide staff direction.
Background: The City Manager was approached by a representative for RM Tesoro LLC offering to exchange two (2) parcels owned by RM Tesoro LLC located along SE Southbend Blvd for eight (8) single-family vacant residential properties located within the Tesoro PUD previously escheated to the City by the St. Lucie County Board of County Commissioners (SLC BOCC). Attachment 3 provides an appraisal of the parcels offered to the City as prepared for RM Tesoro LLC by CRE Valuation Services (CRE). It should be noted that the CRE appraisal of the two open-space parcels applied a "hypothetical condition" that Parcel A has been re-zoned to its Highest and Best Use, which the appraisal states as neighborhood commercial; the appraisal valued Parcel A as such. The actual and current zoning is open space.
Attachment 4 is a memorandum from the City's Pa...
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