Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 25-R57, Authorizing the Acquisition of 111.59+/- Acres of Real Property Owned by the School Board of St. Lucie County, Florida, in Accordance with a Purchase and Sale Agreement between the City of Port St. Lucie and the School Board of St. Lucie County.
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Submitted By: Jesus Merejo, City Manager
Strategic Plan Link: The City's Goal of high-quality infrastructure and facilities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Jennifer Davis, City Manager's Office
2. Parties: City of Port St. Lucie and the School Board of St. Lucie County
3. Purpose: For the City to acquire additional undeveloped lands that were designated as surplus property by the St. Lucie County School Board, for the benefit of increasing conservation lands and green space, as well as additional opportunities for parks in the city.
4. New/Renewal/Modified: New.
5. Duration: The Purchase and Sale Agreement provides for a 90-day Inspection Period, with the Closing to occur 30 days after the expiration of the Inspection Period.
6. Benefits to Port St. Lucie: The City's acquisition of the land enables possible expansion of recreational amenities and related services available to residents, as well as secures additional conservation land and green space for generations to come.
7. Cost to Port St. Lucie (Annual and Potential): Pursuant to Section 4 of the Purchase and Sale Agreement, the parties agree that the School Board Property will be conveyed to the City for the sum of $11,675,000, paid to the School Board by the City of Port St. Lucie in equal installments over a period of three (3) years, as further outlined in the Post Closing Agreement for Further Monetary Obligations.
Presentation Information: Staff will provide a brief presentation, if requested.
Staff Recommendation: Move that the Council approve the Resolution authorizing the acquisition of the School Board Property in accordance with th...
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