TO: CRA Board of Commissioners
FROM: Kristyn Cox, West Atlantic Redevelopment Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: August 15, 2018
Title
RESOLUTION NO. 2018-13 - AGREEMENT FOR PURCHASE & SALE - 21 SW 13TH AVENUE
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Recommended Action:
Recommendation
Approval of Resolution No. 2018-13 and the Agreement for Purchase and Sale with Ms. Maselina Jones for the CRA purchase of 21 SW 13th Avenue, with a purchase price of $52,000.00.
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Background:
The subject property at 21 SW 13th Avenue (Atlantic Park Gardens, Lot 14, Block 2) is located within the Southwest Neighborhood of The Set (CRA Sub-Area #8) and is zoned RM (Medium Density Residential). The vacant 6,970 sq. ft. lot is in the first block of SW 13th Avenue and is listed by an agent of the owner, Ms. Maselina Jones. The location of the property provides an opportunity to continue the stabilization efforts through infill development of affordable single-family housing like Atlantic Park Square on SW 14th Avenue, as indicated in the objectives of the Community Redevelopment Plan, Southwest Area Neighborhood Redevelopment Plan, and The Set Transformation Plan Draft (pending adoption).
The property was appraised by Parrish & Edwards and returned a May 22nd market value appraisal of $52,000. Upon negotiations, the Sellers agreed to the appraised value and that the CRA absorb the Seller’s typical closing costs including title update, commitment and document stamps. Based on negotiations with the property owner representatives, the attached Board Resolution and Agreement for Purchase and Sale have been prepared by the CRA’s attorneys with the purchase price of $52,000 and the provision as stipulated in Sections 5.1 Title of the Property, 10.2 Purchaser’s Closing Costs, 10.3 Seller’s Closing Costs, relating to the CRA’s absorption of the Seller’s closing costs.
Attachments: Exhibit A - Location Map; Exhibit B - Res. No. 2018-13; Exhibit C - Purchase & Sale Agreement -21 SW...
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