SUBJECT
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Request Board approve additional deviation from the current Policy for Establishing Pricing Structure for County Owned Surplus Property Not Sold at Initial Public Bid in conjunction with county-owned Parcel ID Number 272617-000000-044010.
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DESCRIPTION
The County own-owned property identified as Parcel ID Number 272617-000000-044010 is a vacant, nearly square shaped parcel containing approximately 1-acre located along the east side of U.S. Highway 27 approximately 1/2 mile south of Ernie Caldwell Boulevard. The site was originally planned to be utilized for a fire rescue station; however, the parcel is not large enough to accommodate the current prototype. In February 2023 the Board declared the property surplus and authorized its public sale at a minimum bid amount of $550,000. The Board also authorized a deviation from the current Policy for Establishing Pricing Structure for County Owned Surplus Property Not Sold at Initial Public Bid (“Policy”) to allow for the first price reduction to occur one year after being placed on the Surplus Lands List in lieu of the sixty days stated in the Policy if the property was not sold at public bid. The property was placed out for public bid with no bids being received and was subsequently placed on the Surplus Lands List on April 12, 2023. The County has received some inquires regarding the property but at this time it remains unsold and on the Surplus Lands List. Due to the unknowns associated with future market conditions for properties of this type and the relatively low maintenance costs associated with this property county staff is requesting a further deviation from the Policy for this property only. It is requested that price reductions be suspended following the fifth reduction which will occur on December 8, 2024 and result in a price of $412,500 until such time as the property sells or is brought back to the Board for further direction or adjustments. Approving the additional deviation from the Policy will avoid potentially unnecessary reductions to the price of the property prior to its sale.
RECOMMENDATION
Request Board approve the additional deviation from the Policy as described above and suspending the price reduction once the amount of $412,500 is reached.
FISCAL IMPACT
Proceeds from the sale of the subject parcel to be deposited into the appropriate fund, to be determined by Finance and Accounting.
CONTACT INFORMATION
R. Wade Allen, Director
Real Estate Services
863-534-2577