ORD-2013-038 Ordinance approving Budget Amendment #2-C and SportsPlex Property Purchase and Sale Agreements

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2 FINANCIAL IMPACT: The total purchase price is estimated at $382,000. Final settlement costs are estimated at $1,500 and will be determined by the closing Attorney. The acquisition of the properties will be made with an appropriation of $382,000 from the General Fund Unassigned Fund Balance. The General Fund Unassigned Fund Balance is approximately $36.5 million. With approval of Budget Amendment #2 (also on the October 15, 2013 Board agenda), $215,539 will have been appropriated from the Unassigned Fund Balance prior to this proposed action to appropriate $382,000. Settlement costs will be paid from existing budgeted funds within the SportsPlex Enterprise Fund. Budget Amendment#2-C is as follows: Sportsplex Enterprise Fund($382,000) Revenues for this project: Current FY FY 2013-14 FY 2013-14 2013-14 Amendment Revised S orts lex Revenues $2,882,210 $0 $2,882,210 From General Fund $376,450 $382,000 $758,450 Appropriated Fund Balance — $710,000 $0 $710,000 S orts lex Fund Total Project Fundin $3,968,660 $382 000 $4.360.660 Appropriated for this project: Current FY FY 2013-14 FY 2013-14 2013-14 Amendment Revised Personnel Services $1,188,305 $0 $1,188,305 Operations $1,710,355 $0 $1,710,355 Capital $1,070,000 $0 $1,070,000 Land&Associated Costs $0 $382,000 $382,000 Total Costs 1 $3,968,660 $382,000 $4,360,660 RECOMMENDATION(S): The Interim Manager recommends the Board: • authorize the Interim Manager and Chair to execute the Purchase and Sale Agreement between the County and the Sellers of property adjacent to the Orange County SportsPlex; • execute the necessary paperwork to close the transaction no later than 30 days after the agreements are fully executed, subject to final County Attorney approval; and • approve Budget Amendment #2-C in the amount of $382,000 to fund the transaction from the General Fund Unassigned Fund Balance.