SUBJECT
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Approve Second Addendum to Agreement for Sale and Purchase between Buck Mann Ranch, LLC, BDG Lands, LLC and Polk County in conjunction with the Upper Peace Creek Mann Ranch Project. (one-time additional purchase expense not to exceed $40,000.00)
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DESCRIPTION
The Board previously approved an Agreement for Sale and Purchase (Agreement) between Buck Mann Ranch, LLC and BDG Lands, LLC for the purchase of 1,274-acres on August 20, 2024. A recent survey prepared for the closing indicates a total acreage of 1,276.62-acres which results in a discrepancy of 2.62-acres from the Agreement acreage. Rather than trying to determine where the 2.62-acres would be removed from the legal description, the owners have agreed to sell the remaining 2.62-acres to the County for an additional $40,000. We are requesting the Board approve the purchase of the additional 2.62-acres for $40,000 which increases the purchase price to $20,040,000. Estimated closing costs have not changed from the original Agreement and the new overall Agreement amount would be a total of $20,095,000. The County has requested the owners have executed and delivered a Second Amendment to Agreement for Sale and Purchase.
The County Attorney’s Office and the Real Estate Services Director have reviewed the Second Amendment to Agreement for Sale and Purchase and recommend approval. Approval of the Second Amendment to Agreement for Sale and Purchase and authorizing the increase in the acreage and purchase price will allow the closing process to continue and for the County to take ownership of the property.
RECOMMENDATION
Request Board approve the above-mentioned Second Amendment to Agreement for Sale and Purchase and authorize the additional $40,000 increase to the purchase amount which will increase the Agreement purchase price to $20,040,000 and overall purchase price to include estimated closing costs in the amount of $20,095,000.
FISCAL IMPACT
Funds are available for the $40,000 increase in the overall purchase amount in the Stormwater MSTU Fund.
CONTACT INFORMATION
R. Wade Allen, Director
Real Estate Services
863-534-2577