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GGELTC Minutes 03/29/2021MINUTES Golden Gate Estates Land Trust Committee Chairman: Jeff Curl Vice-Chairman: Carol Pratt Member: Annette Kniola Member: Angela Birks Member: JessicaHarrelson Countv Staff Michael Dowling: Collier County Real Property Management F Approval of current agenda: Jeff asked if there are any changes to the Agenda, there were none. Jeff asked for a motion to approve the agenda as presented. Annette made the motion, Jessica seconded the motion, Jeffcalled the vote, all were in favor. ) Approval of the Minutes for the November 16, 2020, meeting: Jeff asked if there are any changes to the minutes. Michael advised Jeff that he made the change in the Minutes per Jeffs request regarding the reference that Jeff made to the sale price of a lot near his property, Jeff s second revision was to include a statement in the minutes that the Committee had not met on a regular basis due to the Coronavirus Pandemic. Michael explained the changes to the Members. Jeff asked for a motion to approve the agenda as presented. Jessica made the motion to approve the Minutes with the revisions discussed, Annette seconded the motion, Jeffcalled the vote, all were in favor. F Approval of Treasurer's Report: Michael distributed the Treasurer's Report. The interest posted to-date is $1,438.67 with a total cash available balance of $699,974.53. Annette reiterated, from prior discussions, that the interest is low, and Jeff said that the Clerk recently discussed that at a Town Hall Meeting. Jeff asked if there are any questions related to the Treasurer's Report, no one had any questions, Jeffcalled for a motion, Jessica made a motion to approve the Treasurer's Repot as presented, Jeff seconded the motion, and called for the vote, all were in favor. Monday, March29,2021- 5:30 p.m. IFAS Extension Ag Center next to Fairgrounds 14700 Immokalee Road Naples, Florida 34120 Committee Members F Call to order: Jeff called the meeting to order at 5:34 p.m. Angela and Carol absent. 20.A.3 Packet Pg. 509 Attachment: March 29, 2021, Minutes (16047 : Golden Gate Estaes Land Trust Committee) Michael explained the Reverter Discharge and Release process and explained the new company, Taylor Morrison. Michael stated that Real Property continues to follow the procedures in the 1983 Agreement for processing sales. F Property Sale Appraisal Approval: Parcel ID 40476840003 The East 75 feet ofthe West 150 feet of Unit 73,Truct 83, l.l4 acres, buitdable lot Property Appraiser's Value: $ 17,898 In-house Appraiser's Value: $33,000 Jeff asked if there are any questions regarding the appraisal and there were none. Michael restated that the buyer would pay one hundred percent (100%) ofthe appraisal and not ninety percent (90%) as the policy was in the past. Michael said the one hundred percent (100%) of the appraised value had been Board-approved. Annette made a motion to accept the appraisal and to recommend the sale to the Board of County Commissioners, Jeff asked for any discussion, Jessica seconded the motion, Jeff called for the vote and all were in favor. Annette stated that there are recent sales in the same location for $50,000 and 54,000 for one and one-quarter (1 %) ofan acre. Jeff stated that he was concemed that the Appraiser had a caveat in the appraisal related to the Coronavirus Pandemic and that the market was not adversely affected by the Pandemic, but in effect, increased prices. Jeff said the appraisals for the properties Transportation is requesting to purchase are low based on the lot being purchased by a member of the pubtic, which came in at fifty percent (50%) higher than assessed value. Jeff feels that the Transportation properties should also be valued as the first property was in that it was almost fifty percent (50%) higher than assessed value. Annette asked Jeff if he is taking into consideration the use and how a road would possibly depreciate the land value. Jeff said the road is not built and is looking at the value as 'raw land.' Jessica asked if the appraisals were still good since they were done in December. Michael said he will confirm that with the Appraiser. Jeff restated that since the Appraiser doubled the first property, that formula should be used to value the two parcels for Transportation. Jessica said that the market has been very active in the last few months and maybe the Appraiser can review and update the appraisals. Michael said they can perform an Administrative or Pencil Appraisal. Jeff said he was concemed using taxpayers' money to update the appraisals. Michael said that with the issue with GAC and fte County in the recent past, the Commissioners may question why money is being traded for County-owned land and may vote to transfer it without monetary consideration. Jeff is aware ofthat and wants it on-record that as a Committee, it does not want to give the land away. Jeff said, as a Land Trust, he wants to maximize the sale price so that the Committee can buy brush trucks or playground equipment, or other items that would benefit the residents of Golden Gate Estates. There was discussion about the recommendation to the Board and Jeff said to counter-offer Transportation's offer and the Committee will revisit its response. ) Property Sale Appraisal Approval for Transportation: Parcel ID 36915200008 The North 100' of Tract 55, Unit 18, from the GAC Land Trust, 9.12 acres Property Appraiser's Value: $3 16,500 In-houseAppraiser'sValue: $292,000 20.A.3 Packet Pg. 510 Attachment: March 29, 2021, Minutes (16047 : Golden Gate Estaes Land Trust Committee) ) Property Sale Appraisal Approval for Transportation: Parcel ID 37493920003 The North 100' ofTract 55, Unit 18 -5acres Property Appraiser's Value: $l 18,750 Appraiser's Value: $ 180,000 Jeff made a motion to have Transportation provide a counter-offer and for the Committee to meet again to take a vote to recommend the sale to the Board. Annette seconded the motion, Jeff called for the vote and all were in favor. D Other Business: None F Public Comment; None D Next meeting - May 2021 - to be determined Meeting adjoumed: 6:40 p.m. Approved:May 24,2021 20.A.3 Packet Pg. 511 Attachment: March 29, 2021, Minutes (16047 : Golden Gate Estaes Land Trust Committee)