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1 <br />ORD- 2013 -038 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 15, 2013 <br />Action Agenda <br />Item No. 7 -b <br />SUBJECT: SportsPlex Property Purchase and Sale Agreements and Approval of Budget <br />Amendment #2 -C <br />DEPARTMENT: Asset Management Services PUBLIC HEARING: (Y /N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Site Locator Jeff Thompson, (919) 245 -2658 <br />PURPOSE: To: <br />• authorize the Interim Manager and Chair to execute a Purchase and Sale Agreement <br />between the County and the sellers of property adjacent to the Orange County <br />SportsPlex; <br />• execute the necessary paperwork to close the transaction no later than 30 days after the <br />agreements are fully executed, subject to final County Attorney approval; and <br />• approve Budget Amendment #2 -C in the amount of $382,000 to fund the transaction <br />from the General Fund Unassigned Fund Balance. <br />BACKGROUND: In the spring of 2013, the Board authorized the County Manager to enter into <br />discussions with two property owners regarding three properties adjacent to the SportsPlex that, <br />if acquired by the County, could provide parking and future expansion area for the SportsPlex. <br />The County is complete with its title, soils, environmental, cultural, and archaeological due <br />diligence regarding the three parcels adjacent to the Orange County SportsPlex. All reports in <br />these areas are satisfactory. The closing survey is forthcoming and will be complete prior to <br />closing. <br />Appraisals from a mutually agreed upon Appraiser, John McBrayer of Williams Appraisals, <br />indicate the following fair market value: <br />1. $190,000 for the 1.5 acre Wesley and Alice Woods property, or $126,667 per acre. <br />2. $170,000 for the 1.36 acre McCauley property, or $125,000 per acre. <br />Each owner has vertical house structures on the property that may be of some use to the <br />SportsPlex during the development and construction phases of its expansion. The structures <br />may also be candidates for relocation and adaptive re -use for affordable housing. <br />The sellers of the properties have agreed to sell the County the properties for the following <br />sales prices: <br />1. $200,000 for the 1.5 acre Wesley and Alice Woods property; <br />2. $182,000 for the 1.36 acre Gene McCauley property. <br />