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Authorization to County Attorney to Documents With FLG X FL, LLC, Successor-In-Interest to Tampa Bay Extreme Adventure Course, LLP, for Purchase of Property Located at 6440 Cedar Lane (Key #1752400) and Associated Budget Resolution
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BRIEF OVERVIEW
FLG X FL LLC, successor-in-interest to Tampa Bay Extreme Adventure Course, LLP, has exercised its right to purchase property from a Ground Lease Agreement with Option to Purchase executed between Hernando County approved by the Board on May 12, 2020.
The following agenda items have been brought before the Board and approved:
• January 24, 2017, Agenda Item 12772 - Landlord’s Lien Waiver with CSC Holding Group, LLC, d/b/a TreeUmph! and Sun Trust Bank for Property Located at 6440 Cedar Lane - Default of $650,000.00 by TreeUmph! for zipline park assets.
• November 27, 2018, Agenda Item 15092 - Authorization to Bid and/or Purchase at Public Sale of Personal and Intangible Property Owned by CSC Holding Group LLC, and ADVX, LLC, d/b/a TreeUmph! Adventure Course Located at 6440 Cedar Lane.
• December 11, 2018, Agenda Item 15126 - Approval of Purchase at Public Sale of Personal and Intangible Property Owned by CSC Holding Group, LLC and ADVX, LLC, d/b/a TreeUmph! Adventure Course Located at 6440 Cedar Lane and Associated Budget Amendment (Total Cost: $166,420.00).
• February 12, 2019, Agenda Item 15245 - License Agreement with Tampa Bay Extreme Adventure Course, LLC for Property Located at 6440 Cedar Lane - No payment amount provided in agenda item for winning bid of assets located at the property by Tampa Bay Extreme Adventure Course LLP (TBEAC) only that TBEAC would be given the option to purchase the 36-acre parcel and the improvements.
• May 12, 2020, Agenda Item 16912 - Ground Lease with Option to Purchase Agreement with Tampa Bay Extreme Adventure Course, LLP, for Property Located at 6440 Cedar Lane - Annual Lease Rates:
o Year 1 - $12,000
o Years 2-5 - Totaling $132,000 ($24,000; $24,000; $36,000; $48,000)
o Year 6 - $300,000 purchase price with 60% of lease payments applied to purchase price
The property address is 6440 Cedar Lane in Brooksville. It is a 36.5-acre parcel that has the following improvements: a zip-line adventure park, public restrooms for park patrons, a recreational building measuring 1,034 SQFT, a warehouse building measuring 1,632 SQFT, and an FDEP-permitted public water well.
Parcel Key: 1752400
Parcel Identification No.: R31 422 20 0000 0170 0010
Online information regarding FLG X Adventure Course - Florida, dated April 7, 2025, advises the park must close to deal with the unexpected physical and business impacts caused by Hurricane Milton. The voicemail message on the zip-line park’s associated phone number (888) 231-8592 states the park is permanently closed.
Although the Board of County Commissioners has already authorized this sale by approving the Ground Lease with Option to Purchase in 2020, certain documents will be needed to finalize the transaction and authorization to sign them granted to the County Attorney. These documents include a Statutory Deed along with a Bill of Sale and Release of Liability addressing transfer of the potable water system and all of its components. Closing must occur before June 1 as the lease expires May 31, 2025.
FINANCIAL IMPACT
Economic Development has requested funds for the sale of 6440 Cedar Lane in Brooksville, in the amount shown below, to be deposited in:
Revenues:
Fund: 0011 - General Fund, Account: 3641060 - Sale of land, $219,600
Fund: 0011 - General Fund, Account: 3436914 - Fees/Late Paymt Chges $2,000
Expense: (to balance)
Fund: 0011 - General Fund, Department: 01551 - Economic Incentive, Account: 5909985 - BUDGET RES- DED IND DEV, $221,600.
The asset would also have to be removed from the County’s books upon completing the sale.
LEGAL NOTE
The Board is authorized to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
The Board approved the Ground Lease with Option to Purchase Agreement with Tampa Bay Extreme Adventure Course, LLP, for Parcel Key 1752400 located at 6440 Cedar Lane on May 12, 2020. It is recommended that the County Attorney now be authorized to sign the Statutory Deed, the Bill of Sale and Release of Liability, and any other document necessary to close the sale to FLG X FL LLC as successor-in-interest to Tampa Bay Extreme Adventure Course, LLP. It is further recommended that the Chairman be authorized to sign the associated budget resolution.