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Declaration of County Owned Property Located at 15487 Citrus Way a/k/a Little Rock Library and Cannery as Surplus Property and Consideration of Purchase Offers (Key #332367)
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BRIEF OVERVIEW
Hernando County owned Parcel Key No. 332367, located at 15487 Citrus Way, also known as The Little Rock Library and The Cannery, contains a 2,605 square foot commercial building on a lot consisting of .40 acres.
There are currently three offers to purchase the subject property on this agenda item: The first offer is from Ninetta FL Invest, LLC for $199,000.00. Ninetta FL Invest, LLC is a near-by neighbor to the Cannery and is also located on Citrus Way. (Parcel Key 332214).
The second offer to purchase this property is from At in At Holdings, LLC for $120,000.00.
The third offer, which was previously presented to this board, is an unsolicited offer from The Hernando County Grower’s Association, for $10,000.00. The Hernando County Grower’s Association are current tenants of the subject property whose lease term has been temporarily extended.
The Hernando County Property Appraiser's 2022 market value, based on 2021 qualified sales, is $82,123.00. The offer presented by Ninetta FL Invest, LLC is 242% of the Property Appraiser’s market value. The offer presented by At in At Holdings, LLC is 146% of the Property Appraiser’s market value. The unsolicited offer from The Hernando Grower’s Association is 12% of the Property Appraiser’s market value.
Regarding the unsolicited offer: Pursuant to Hernando County Code §2-173, Treatment of Unsolicited Offers, “The Board of County Commissioners is under no obligation to consider unsolicited bids to purchase or lease county-owned property. If the applicable property has not yet been determined to be surplus property, the offer shall be processed as a request to declare such property to be surplus pursuant to section 2-171(a)(2). If the Board has determined that the applicable property is surplus, the Board shall have the discretion to dispose of the applicable property through one (1) of the methods set forth in section 2-172.”
As an unsolicited offer, staff has determined that this property can be sold under Section 2-172(4) after the Board has declared the property surplus.
Section 2-172 (4) is as follows:
(4) Sale to government or non-profit. In accordance with section 125.38, Florida Statutes, upon a finding by the board that the property is required for use by another governmental entity or non-profit entity, the county may sell, transfer, or convey real property to that entity for such price, whether nominal or otherwise as the board may fix.
No advertisement is required. The fact of the application being made, the purpose for which such property is to be used, and the price or rent thereof shall be set out in a resolution duly adopted by the board, setting forth the following:
a. The facts of the application;
b. The purpose for which the property is to be used;
c. The purchase price and terms; and
d. A provision to be incorporated into the deed which states that in the event the property is not used or ceases to be used for the stated purpose, the property shall revert to the county which shall thereafter have the right to re-enter and repossess the property.
Staff recommends the offer being made on behalf of Ninetta FL Invest, LLC in the amount of $199,000.00 be accepted, and the offer from At in At Holdings, LLC for $120,000.00 be considered the contingent offer. If the Board decides to approve the unsolicited offer from The Hernando Grower’s Association, the adoption of the attached resolution is required pursuant to Hernando County Code Art. VII, Section 2-172(4) governing sales of real property to a non-profit entity
The legal description for this parcel is as follows:
Begin at the Southeast Corner of S ½ of SW ¼ of SW ¼, Section 18, Township 21 South, Range 19 East, run North 430 feet; run West 264 feet, run South 430 feet; run East 264 feet to Point of Beginning.
Property Appraiser’s Parcel ID No.: R18 421 19 0000 0160 0000
Property Appraiser's Key No.: 332367
FINANCIAL IMPACT
If this Contract is accepted, after closing (per FS 197.592) the proceeds of $199,000.00 will be deposited in Revenue Account No. 0011-3641061, General Fund, Sale of Surplus Land.
LEGAL NOTE
The Board is authorized to act upon this matter pursuant to Section 125.35, Florida Statutes and Art. VII, Sections 2-170, 171, 172 & 173, Hernando County Code of Ordinances concerning disposition of Real Property.
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RECOMMENDATION
If the Board determines that the offer and terms serve the best interests of Hernando County, declare Parcel Key No.332367 as Surplus and authorize the Chairman to sign the attached resolution and any contracts conveying the property, as well as authorize the County Attorney's Office to prepare or have prepared the necessary documents to finalize the transaction and execute same on the Board's behalf including, but not limited to, a statutory deed.
It is recommended that offer being made on behalf of Ninetta FL Invest, LLC in the amount of $199,000.00 be accepted, and the offer from At in At Holdings LLC for $120,000.00 be considered the contingent offer.
It is further recommended the Board review the information presented to them in this agenda item and decide if the sale is in the best interest of Hernando County.