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<br /> There is a need for 250 additional parking spaces or more to accommodate league play and
<br /> special soccer tournaments and events.
<br /> The subject property is zoned Economic Development Buckhorn Higher Intensity (EDB-2),
<br /> which is intended for a range of light industrial, distribution, retail, office, and services uses in
<br /> the Buckhorn Economic Development District. Allowed uses include parks, government
<br /> buildings, manufacturing, assembly and processing, wholesale trade, as well as various retail
<br /> and services with a conditional use permit. Although the property is in an Economic
<br /> Development District, there are no public water and sewer services currently available to this
<br /> site, and this particular property has topography that would have made it more expensive for a
<br /> business to link the property to the existing or future public sewer network. The appraised value
<br /> of the property was reduced by $300,000 to account for that constraint on land use.
<br /> The property is entirely undeveloped and forested with a mixture of immature pine and
<br /> hardwoods. A perennial stream runs from north to south along the eastern property boundary
<br /> and will need to be buffered from any construction. The stream flows to a small wetland located
<br /> in the far southeast corner of the property, and then enters a culvert under West Ten Road.
<br /> The owners have agreed to sell the property to Orange County for $740,000 (appraised value).
<br /> The County is currently completing its due diligence by completing a title search, a Phase 1
<br /> environmental site assessment (ESA), and a boundary survey. Following the completion of
<br /> those items, and the findings are deemed satisfactory, the parties will schedule a closing for the
<br /> transaction to occur by July 31, 2016 or as soon as possible thereafter.
<br /> FINANCIAL IMPACT: The purchase price is $740,000 ($20,000 per acre), with an additional
<br /> $12,000 - $15,000 anticipated in transaction costs (survey, Phase 1 ESA, title search/closing).
<br /> A portion of the funding for the acquisition ($425,000) would come from the approved Capital
<br /> Improvement Project funds budgeted for Soccer.com Center land acquisition in FY 2015-16,
<br /> and the remaining approximately $330,000 would come from the Lands Legacy Capital Project.
<br /> With this allocation, approximately $3.2 million remains available in the Lands Legacy Capital
<br /> Project. Budget Amendment #9-A provides for the use of the above mentioned funds, and
<br /> amends the following Capital Project Ordinances:
<br /> Lands Legacy Capital Project (-$330,000) -Project# 20011
<br /> Revenues for this project:
<br /> Current FY 2015-16 FY 2015-16
<br /> FY 2015-16 Amendment Revised
<br /> Alternative Financing $3,251,472 $0 $3,251,472
<br /> From General Fund $631,500 ($330,000) $301,500
<br /> Donations $1,000 $0 $1,000
<br /> Appropriated Fund Balance $9,337 $0 $9,337
<br /> Total Project Funding $3,893,309 ($330,000) $3,563,309
<br /> Appropriated for this project:
<br /> Current FY FY 2015-16 FY 2015-16
<br /> 2015-16 Amendment Revised
<br /> Lands Legacy Program $3,893,309 ($330,000) $3,563,309
<br /> Total Costs $3,893,309 ($330,000) $3,563,309
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