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Agenda 06/22/2021 Item #16B 3 (Agreement for Sale & Purchase - 2732 Francis Avenue)06/22/2021 EXECUTIVE SUMMARY Recommendation that the Board of County Commissioners and as ex-officio the governing board of the Community Redevelopment Agency Board, approve an Agreement for Sale and Purchase to acquire a property located at 2732 Francis Avenue in connection with a stormwater project and approve any necessary budget amendments. The total cost for this transaction will not to exceed $319,000. OBJECTIVE: To acquire the property for future stormwater improvements in the Gateway Triangle neighborhood of the Bayshore Gateway Triangle Community Redevelopment Area. CONSIDERATIONS: Flooding in the Gateway Triangle was identified during the redevelopment planning efforts that began in 1999. The Community Redevelopment Agency (CRA) has worked with the County to make improvements in the area. The County completed the Phase 1 of the Triangle Stormwater Pond in 2008. The CRA purchased 2664 Francis in 2004 for future stormwater needs. This single lot does not provide enough area to expand the existing pond to accommodate future needs. The Growth Management Department (GMD) is interested in expanding the land area to accommodate future stormwater needs. The purchase of this lot would assist in furthering the stormwater improvements in the community. The seller is willing to sell the property and the site is adjacent to the current lot owned by the CRA. If not purchased, the site may be sold to another party and may not be available in the future. Purchase of this property will allow for future drainage improve ments in the community. It furthers the goals of the Bayshore Gateway Triangle Community Redevelopment Plan and is consistent with the long- term GMD stormwater plans. The CRA and GMD are partnering in this proposed acquisition to further the goals of the community. The Seller’s improved property contains 0.3 acres and is located at 2732 Francis Avenue. A location map is attached for reference. The appraisal valuation is based on the sales comparison approach since the duplex is getting demolished. The appraiser appraised the property for $280,000. Property Owner counteroffered at $300,000 and accepted the counteroffer in the amount of $290,000. The Agreement for Sale and Purchase has been reviewed and approved by the County Attorney’s Office. The location map is attached for reference. ADVISORY BOARD RECOMMENDATION: On June 7, 2021 the Bayshore Gateway Triangle CRA Local Advisory Board recommended approval of the acquisition. This recommendation was approved with a vote of 5-0. FISCAL IMPACT: The total cost of the acquisition should not exceed $319,000 ($290,000 for the purchase price; $4,000 for a title commitment, title policy, closing costs and recording of the documents) and $25,000 for demolition. Annual maintenance of the property until it is incorporated into the stormwater pond is estimated at $850. The proposed source of funding is Bayshore CRA Capital Fund 787; Project 50203 and Stormwater Capital Fund 325; Project 50169. A budget amendment will be required to transfer funding, in the amount of $159,500, within Stormwater Capital Fund 325 from Project 60139 to Project 50169. LEGAL CONSIDERATIONS: The property was appraised in accordance with Section 125.355(1)(b), Florida Statutes and Ordinance No. 2007-28. Because the purchase price exceeds the appraised value, Section 125.355(1)(b) requires an extraordinary vote for approval. As such this item approved for form 16.B.3 Packet Pg. 1277 06/22/2021 and legality and requires an affirmative vote of four. - JAB GROWTH MANAGEMENT IMPACT: There is no impact to the Growth Management Plan. RECOMMENDATION: That the Board: 1. Approve the attached Agreement for Sale and Purchase. 2. Authorize the Chair to execute the Agreement and any additional closing documents, and accept the Warranty Deed, once approved by the County Attorney’s Office. 3. Authorize staff to prepare related vouchers and warrants for payment. 4. Authorize necessary budget amendments. 5. Direct the County Manager or his designee to proceed to acquire the Property and to follow all appropriate closing procedures, to acquire and obtain clear title to the Property, and to record any and all necessary documents (once approved by the County Attorney’s Office) in the Public Records of Collier County, Florida. Prepared By: Sonja Stephenson, Sr. Property Acquisition Specialist, Facilities Management Division ATTACHMENT(S) 1. Agreement for Sale and Purchase (PDF) 2. LOCATION MAP (PDF) 3. Appraisal (PDF) 16.B.3 Packet Pg. 1278 06/22/2021 COLLIER COUNTY Board of County Commissioners Item Number: 16.B.3 Doc ID: 15918 Item Summary: Recommendation that the Board of County Commissioners and as ex-officio the governing board of the Community Redevelopment Agency Board, approve an Agreement for Sale and Purchase to acquire a property located at 2732 Francis Avenue in connection with a stormwater project and approve any necessary budget amendments. The total cost for this transaction will not to exceed $319,000. Meeting Date: 06/22/2021 Prepared by: Title: Property Acquisition Specialist – Facilities Management Name: Sonja Stephenson 05/21/2021 9:48 AM Submitted by: Title: Director - Facilities Management – Facilities Management Name: Damon Grant 05/21/2021 9:48 AM Approved By: Review: Facilities Management Toni Mott Additional Reviewer Completed 05/21/2021 2:10 PM County Manager's Office Debrah Forester Additional Reviewer Completed 05/25/2021 4:24 PM Public Utilities Operations Support Jennifer Morse Additional Reviewer Completed 05/26/2021 3:27 PM Public Utilities Operations Support Joseph Bellone Additional Reviewer Completed 05/27/2021 9:16 AM Facilities Management Damon Grant Director - Facilities Completed 05/27/2021 10:44 AM County Manager's Office Drew Cody Additional Reviewer Skipped 05/27/2021 11:37 AM Public Utilities Department Drew Cody Level 1 Division Reviewer Completed 05/28/2021 8:35 AM Public Utilities Department George Yilmaz Level 2 Division Administrator Review Completed 05/28/2021 1:11 PM County Attorney's Office Jennifer Belpedio Level 2 Attorney of Record Review Completed 06/01/2021 8:06 AM Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 06/01/2021 10:25 AM County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 06/01/2021 10:30 AM Growth Management Operations Support Christopher Johnson Additional Reviewer Completed 06/02/2021 8:16 AM Office of Management and Budget Susan Usher Additional Reviewer Completed 06/14/2021 10:36 AM Budget and Management Office Ed Finn Additional Reviewer Completed 06/14/2021 6:10 PM County Manager's Office Sean Callahan Level 4 County Manager Review Completed 06/15/2021 8:51 AM 16.B.3 Packet Pg. 1279 06/22/2021 Board of County Commissioners Geoffrey Willig Meeting Pending 06/22/2021 9:00 AM 16.B.3 Packet Pg. 1280 Folio No. 61834240004 AGREEMENT FOR SALE AND PURCHASE THIS AGREEMENT is made and entered into by and between DAVID D. NEWMAN, and VICKI L. DIXON, As Joint Tenants \Mth Full Rights of Survivorship, whose address is, 1844 Harbor Place, Naples, FL34104, (hereinafter referred to as "seller"), and Collier County, a political subdivision of the State of Florida, its successors and assigns, whose address is 3335 Tamiami Trail East, Suite 101, Naples, FL 34112, (hereinafter referred to as "Purchased'). WITNESSETH WHEREAS, Seller is the owner of that certain parcel of real property (hereinafter referred to as "Property"), located in Collier County, State of Florida, and being more particularly described in Exhibit "A", attached hereto and made a part hereof by reference. WHEREAS, Purchaser is desirous of purchasing the Property, subject to the conditions and other agreements hereinafter set forth, and Seller is agreeable to such sale and to such conditions and agreements. NOW, THEREFORE, and for and in consideration of the premises and the respective undertakings of the parties hereinafter set forth and the sum of Ten Dollars ($10.00), the receipt and sufficiency of which is hereby acknowledged, it is agreed as follows: I. AGREEMENT 1.01 ln consideration of the purchase price and upon the terms and conditions hereinafter set forth, Seller shall sell to Purchaser and Purchaser shall purchase from Seller the Property, described in Exhibit "A". 2.01 The purchase price (the "Purchase Price") for the Property shall be Two Hundred Ninety Thousand Dollars ($290,000), (U.S. Cunency) payable at time of closing. 1 .s'- II. PAYMENT OF PURCHASE PRICE III. CLOSING 3.01 The Closing (THE "CLOSING DATE", "DATE OF CLOSING", OR "CLOSING") of the transaction shall be held on or before one hundred and eighty (120) days following execution of this Agreement by the Purchaser, unless extended by mutual written agreement of the parties hereto. The Manager of the Real Property 16.B.3.a Packet Pg. 1281 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Management or designee is authorized to enter into such mutual written agreements on behalf of the County for extensions of up to an additional 60 days without further approval by the Board of County Commissioners. The Closing shall be held at the Collier County Attorney's Office, 3335 Tamiami Trail East, Suite 101, Naples, Florida 34112. The procedure to be followed by the parties in connection with the Closing shall be as follows: 3.0111 Warranty Deed in favor of Purchaser conveying title to the Property, free and clear of all liens and encumbrances other than: (a) The lien for current taxes and assessments. 3.01 12 Combined Purchaser-Seller closing statement. 3.0113 A "Gap," Tax Proration, Owner's and Non-Foreign Affidavit," as required by Section 1445 of the lnternal Revenue Code and as required by the title insurance underwriter in order to insure the "gap" and issue the policy contemplated by the title insurance commitment. 3.0114 A W-9 Form, "Request for Taxpayer ldentification and Certification" as required by the lnternal Revenue Service. 3.0121 A negotiable instrument (County Warrant) in an amount equal to the Purchase Price. No funds shall be disbursed to Seller until the Title Company verifies that the state of the title to the Property has not changed adversely since the date of the last endorsement to the commitment, referenced in Section 4.01'1 thereto, and the Title Company is irrevocably committed to pay the Purchase Price to Seller and to issue the Owner's title policy to Purchaser in accordance wlth the commitment immediately after the recording of the deed. 2 3.011 Seller shall convey a marketable title free of any liens, encumbrances, exceptions, or qualifications. Marketable title shall be determined according to applicable title standards adopted by the Florida Bar and in accordance with law. At the Closing, the Seller shall cause to be delivered to the Purchaser the items specified herein and the following documents and instruments duly executed and acknowledged, in recordable form: (b) Such other easements, restrictions or conditions of record. 3.012 At the Closing, the Purchaser, or its assignee, shall cause to be delivered to the Seller the following: 16.B.3.a Packet Pg. 1282 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) 4.01 Upon execution of this Agreement by both parties or at such other time as specified within this Article, Purchaser and/or Seller, as the case may be, shall perform the following within the times stated, which shall be conditions precedent to the Closing; 4.011 Within thirty (30) days after the date hereof, Purchaser shall obtain as evidence of title an ALTA Commitment for an Owner's Title lnsurance Policy (ALTA Form B-1970) covering the Property, together with hard copies of all exceptions shown thereon. Purchaser shall have thirty (30) days, following receipt of the title insurance commitment, to notify Seller in writing of any objection to title other than liens evidencing monetary obligations, if any, which obligations shall be paid at closing. lf the title commitment contains exceptions that make the title unmarketable, Purchaser shall deliver to the Seller written notice of its intention to waive the applicable contingencies or to terminate this Agreement. 3 3.0122 Funds payable to the Seller representing the cash payment due at Closing in accordance with Article lll hereof, shall be subject to adjustment for prorations as hereinafter set forth. 3.02 Each party shall be responsible for payment of its own attorney's fees. Seller, at its sole cost and expense, shall pay at Closing all documentary stamp taxes due relating to the recording of the Warranty Deed, in accordance with Chapter 201.01, Florida Statutes, and the cost of recording any instruments necessary to clear Selleis title to the Property. The cost of the Owner's Form B Title Policy, issued pursuant to the Commitment provided for in Section 4.011 below, shall be paid by Purchaser. The cost of the title commitment shall also be paid by Purchaser. 3.03 Purchaser shall pay for the cost of recording the Warranty Deed. Real Property taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and any other applicable exemptions and paid by Seller. lf Closing occurs at a date which the current year's millage is not fixed, taxes will be prorated based upon such prior year's millage. IV. REQUIREMENTS AND CONDITIONS 4.012|t Purchaser shall fail to advise the Seller in writing of any such objections in Seller's title in the manner herein required by this Agreement, the title shall be deemed acceptable. Upon notification of Purchaser's objection to title, Seller shall have thirty (30) days to remedy any defects in order to convey good and marketable title, except for liens or monetary obligations which will be satisfied at Closing. Seller, at its sole expense, shall use its best efforts to make such title good and marketable. ln the event Seller is unable to cure said objections within said time period, Purchaser, by providing written notice to Seller within seven (7) days after expiration of said thirty (30) day period, may accept title as it then is, waiving any objection; or Purchaser may terminate the Agreement. A 16.B.3.a Packet Pg. 1283 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) 4.013 Purchaser shall have the option, at its own expense, to obtain a current survey of the Property prepared by a surveyor licensed by the State of Florida. No adjustments to the Purchase Price shall be made based upon any change to the total acreage referenced in Exhibit "A", if any. Seller agrees to furnish any existing surveys of the Property, if any, to Purchaser within fifteen (15) days of execution of this Agreement. V. APPRAISAL PERIOD 5.01 This provision was deleted as an in-house appraisal was obtained per the guidelines set forth in Section Two (4) of Ordinance 2007 -28. 6.01 Purchaser shall have one hundred and eighty ('120) days from the date of this Agreement, ("lnspection Period"), to determine through appropriate investigation that: 1. Soil tests and engineering studies indicate that the Property can be developed without any abnormal demucking, soil stabilization or foundations. 2. There are no abnormal drainage or environmental requirements to the development of the Property. 3. The Property is in compliance with all applicable State and Federal environmental laws and the Property is free from any pollution or contamination. 4. The Property can be utilized for its intended purpose. 4 failure by Purchaser to give such written notice of termination within the time period provided herein shall be deemed an election by Purchaser to accept the exceptions to title as shown in the title commitment. VI. INSPECTION PERIOD 6.02 lf Purchaser is not satisfied, for any reason whatsoever, with the results of any investigation, Purchaser shall deliver to Seller prior to the expiration of the lnspection Period, written notice of its intention to waive the applicable contingencies or to terminate this Agreement. lf Purchaser fails to notify the Seller in writing of its specific objections as provided herein within the lnspection Period, it shall be deemed that the Purchaser is satisfied with the results of its investigations and the contingencies of this Article V shall be deemed waived. ln the event Purchaser elects to terminate this Agreement because of the right of inspection, Purchaser shall deliver to Seller copies of all engineering reports and environmental and soil testing results commissioned by Purchaser with respect to the Property. 6.03 Purchaser and its agents, employees and servants shall, at their own risk and expense, have the right to go upon the Property for the purpose of surveying and conducting site analyses, soil borings and all other necessary investigation. Purchaser shall, in performing such tests, use due care. Seller shall be notified by 16.B.3.a Packet Pg. 1284 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Purchaser no less than twenty-four (24) hours prior to said inspection of the Property. VII. INSPECTION 7.01 Seller acknowledges that the Purchaser, or its authorized agents, shall have the right to inspect the Propefi at any time prior to the Closing. VIII. POSSESSION 8.01 Purchaser shall be entitled to full possession of the Property at Closing. IX. PRORATIONS 9.01 Ad valorem taxes next due and payable, after closing on the Property, shall be prorated at Closing based upon the gross amount of 2020 taxes, and shall be paid by Seller. 10.01 lf Seller shall have failed to perform any of the covenants and/or agreements contained herein which are to be performed by Seller, within ten (10) days of written notification of such failure, Purchaser may, at its option, terminate this Agreement by giving written notice of termination to Seller. Purchaser shall have the right to seek and enforce all rights and remedies available at law or in equity to a contract vendee, including the right to seek specific performance of this Agreement. 10.02 lt the Purchaser has not terminated this Agreement pursuant to any of the provisions authorizing such termination, and Purchaser fails to close the transaction contemplated hereby or otherwise fails to perform any of the terms, covenants and conditions of this Agreement as required on the part of Purchaser to be performed, provided Seller is not in default, then as Seller's sole remedy, Seller shall have the right to terminate and cancel this Agreement by giving written notice thereof to Purchaser, and neither party shall have any further liability or obligation to the other except as set for in paragraph 13.01 (Real Estate Brokers) hereof. 10.04 The parties acknowledge that the remedies described herein and in the other provisions of this Agreement provide mutually satisfactory and sufficient remedies 5 X. TERMINATION AND REMEDIES 10.03 Should any litigation or other action be commenced between the parties concerning the Property or this Agreement, the party prevailing in such litigation or other action shall be entitled, in addition to such relief as may be granted, to a reasonable sum for its attorney's fees, paralegal charges and all fees and costs for appellate proceedings in such litigation or other action; which sum may be determined by the court or in a separate action brought for that purpose. 16.B.3.a Packet Pg. 1285 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) to each ofthe parties, and take into account the peculiar risks and expenses ofeach of the parties. XI. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES 11.01 Seller and Purchaser represent and warrant the following: 1 1 .012 Seller has full right, power, and authority to own and operate the Property, and to execute, deliver, and perform its obligations under this Agreement and the instruments executed in connection herewith, and to consummate the transaction contemplated hereby. All necessary authorizations and approvals have been obtained authorizing Seller and Purchaser to execute and consummate the transaction contemplated hereby. At Closing, certified copies of such approvals shall be delivered to Purchaser and/or Seller, if necessary. 1 1 .01 3 The warranties set forth in this paragraph shall be true on the date of this Agreement and as of the date of Closing. Purchaser's acceptance of a deed to the said Property shall not be deemed to be full performance and discharge of every agreement and obligation on the part of the Seller to be performed pursuant to the provisions of this Agreement. 11.014 Seller represents that it has no knowledge of any actions, suits, claims, proceedings, litigation or investigations pending or threatened against Seller, at law, equity or in arbitration before or by any federal, state, municipal or other governmental instrumentality that relate to this agreement or any other property that could, if continued, adversely affect Seller's ability to sell the Property to Purchaser according to the terms of this Agreement. 11.016 Until the date fixed for Closing, so long as this Agreement remains in force and effect, Seller shall not encumber or convey any portion of the Property or any rights therein, nor enter into any agreements granting any person or entity any rights with respect to the Property or any part thereof, without first obtaining the written consent of Purchaser to such conveyance, encumbrance, or agreement which consent may be withheld by Purchaser for any reason whatsoever. 6 1'l .011 Seller and Purchaser have full right and authority to enter into and to execute this Agreement and to undertake all actions and to perform all tasks required of each hereunder. Seller is not presently the subject of a pending, th reatened or contemplated bankruptcy proceed ing. 11.015 No party or person other than Purchaser has any right or option to acquire the Property or any portion thereof. 16.B.3.a Packet Pg. 1286 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) 1 1 .017 Seller represents that there are no incinerators, septic tanks or cesspools on the Property; all waste, if any, is discharged into a public sanitary sewer system; Seller represents that they have (it has) no knowledge that any pollutants are or have been discharged from the Property, directly or indirectly into any body of water. Seller represents the Property has not been used for the production, handling, storage, transportation, manufacture or disposal of hazardous or toxic substances or wastes, as such terms are defined in applicable laws and regulations, or any other activity that would have toxic results, and no such hazardous or toxic substances are currently used in connection with the operation of the Property, and there is no proceeding or inquiry by any authority with respect thereto. Seller represents that they have (it has) no knowledge that there is ground water contamination on the Property or potential of ground water contamination from neighboring properties. Seller represents no storage tanks for gasoline or any other substances are or were located on the Property at any time during or prior to Seller's ownership thereof. Seller represents none of the Property has been used as a sanitary landfill. 1 1 .018 Seller has no knowledge that the Property and Seller's operations concerning the Property are in violation of any applicable Federal, State or local statute, law or regulation, or of any notice from any governmental body has been served upon Seller claiming any violation of any law, ordinance, code or regulation or requiring or calling attention to the need for any work, repairs, construction, alterations or installation on or in connection with the Property in orderto comply with any laws, ordinances, codes or regulation with which Seller has not complied. 1 1 .019 There are no unrecorded restrictions, easements or rights of way (other than existing zoning regulations) that restrict or affect the use of the Property, and there are no maintenance, construction, advertising, management, leasing, employment, service or other contracts affecting the Property. 11.020 Seller has no knowledge that there are any suits, actions or arbitration, bond issuances or proposals therefor, proposals for public improvement assessments, pay-back agreements, paving agreements, road expansion or improvement agreements, utility moratoriums, use moratoriums, improvement moratoriums, administrative or other proceedings or governmental investigations or requirements, formal or informal, existing or pending or threatened which affects the Property or which adversely affects Seller's ability to perform hereunder; nor is there any other charge or expense upon or related to the Property which has not been disclosed to Purchaser in writing prior to the effective date of this Agreement. 11.021 Seller acknowledges and agrees that Purchaser is entering into this Agreement based upon Seller's representations stated above and on the understanding that Seller will not cause the zoning or physical condition of the Property to change from its existing state on the effective date of this Agreement '7 16.B.3.a Packet Pg. 1287 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) up to and including the Date of Closing. Therefore, Seller agrees not to enter into any contracts or agreements pertaining to or affecting the Property and not to do any act or omit to perform any act which would change the zoning or physical condition of the Property or the governmental ordinances or laws governing same. Seller also agrees to notify Purchaser promptly of any change in the facts contained in the foregoing representations and of any notice or proposed change in the zoning, or any other action or notice, that may be proposed or promulgated by any third parties or any governmental authorities having jurisdiction of the development of the property which may restrict or change any other condition of the Property. 1 1.022 At the Closing, Seller shall deliver to Purchaser a statement (hereinafter called the "Closing Representative Statement") reasserting the foregoing representations as of the Date of Closing, which provisions shall survive the Closing. 11.024 Any loss and/or damage to the Property between the date of this Agreement and the date of Closing shall be Seller's sole risk and expense. 12.01 Any notice, request, demand, instruction or other communication to be given to either party hereunder shall be in writing, sent by facsimile with automated confirmation of receipt, or by registered, or certified mail, return receipt requested, postage prepaid, addressed as follows: lf to Purchaser:Real Property Management 3335 Tamiami Trail East - Suite 101 Naples, Florida 34112 8 11.023 Seller represents, warrants and agrees to indemnify, reimburse, defend and hold Purchaser harmless from any and all costs (including attorney's fees) asserted against, imposed on or incurred by Purchaser, directly or indirectly, pursuant to or in connection with the application of any federal, state, local or common law relating to pollution or protection of the environment which shall be in accordance with, but not limited to, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. Section 9601, et seq., ("CERCLA" or "Superfund"), which was amended and upgraded by the Superfund Amendment and Reauthorization Act of 1986 ("SARA"), including any amendments or successor in function to these acts. This provision and the rights of Purchaser, hereunder, shall survive Closing and are not deemed satisfied by conveyance of title. XII. NOTICES 16.B.3.a Packet Pg. 1288 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) With a copy to David D. Newman and Vicki Dixon 1844 Harbor Place Naples, FL 34104 12.02The addressees and numbers for the purpose of this Article may be changed by either party by giving written notice of such change to the other pafi in the manner provided herein. For the purpose of changing such addresses or addressees only, unless and until such written notice is received, the last addressee and respective address stated herein shall be deemed to continue in effect for all purposes. XIV. MISCELLANEOUS 14.01 This Agreement may be executed in any manner of counterparts which together shall constitute the agreement of the parties. 14.02 This Agreement and the terms and provisions hereof shall be effective as of the date this Agreement is executed by both parties and shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal representatives, successors, successor trustee, and assignees whenever the context so requires or admits. 14.03 Any amendment to this Agreement shall not bind any of the parties hereof unless such amendment is in writing and executed and dated by Purchaser and Seller. Any amendment to this Agreement shall be binding upon Purchaser and Seller as soon as it has been executed by both parties. 14.04 Captions and section headings contained in this Agreement are for convenience and reference only; in no way do they define, describe, extend or limit the scope or intent of this Agreement or any provisions hereof. 9 Office of the County Aftorney Administration Building 3299 Tamiami Trail East - Suite 800 Naples, Florida 34112 lf to Seller: XIII. REAL ESTATE BROKERS 13.01 Any and all brokerage commissions or fees shall be the sole responsibility of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from and against any claim or liability for commission or fees to any broker or any other person or party claiming to have been engaged by Seller as a real estate broker, salesman or representative, in connection with this Agreement. Seller agrees to pay any and all commissions or fees at closing pursuant to the terms of a separate agreement, if any. 16.B.3.a Packet Pg. 1289 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) 14.05 All terms and words used in this Agreement, regardless of the number and gender in which used, shall be deemed to include any other gender or number as the context or the use thereof may require. 14.06 No waiver of any provision of this Agreement shall be effective unless it is in writing signed by the party against whom it is asserted, and any waiver of any provision of this Agreement shall be applicable only to the specific instance to which it is related and shall not be deemed to be a continuing or future waiver as to such provision or a waiver as to any other provision. 14.07 lf any date specified in this Agreement falls on a Saturday, Sunday or legal holiday, then the date to which such reference is made shall be extended to the next succeeding business day. 14.08 Seller is aware of and understands that the "offer" to purchase represented by this Agreement is subject to acceptance and approval by the Board of County Commissioners of Collier County, Florida. 14.09 lf the Seller holds the Property in the form of a partnership, limited partnership, corporation, trust or any form of representative capacity whatsoever for others, Seller shall make a written public disclosure, according to Chapter 286, Florida Statutes, under oath, of the name and address of every person having a beneficial interest in the Property before Property held in such capacity is conveyed to Collier County. (lf the corporation is registered with the Federal Securities Exchange Commission or registered pursuant to Chapter 517, Florida Statutes, whose stock is for sale to the general public, it is hereby exempt from the provisions of Chapter 286, Florida Statutes.) 15.01 This Agreement and the exhibits attached hereto contain the entire agreement between the parties, and no promise, representation, warranty or covenant not included in this Agreement or any such referenced agreements has been or is being relied upon by either party. No modification or amendment of this Agreement shall be of any force or effect unless made in writing and executed and dated by both Purchaser and Seller. Time is of the essence of this Agreement. 10 14.10 This Agreement is governed and construed in accordance with the laws of the State of Florida. XV. ENTIREAGREEMENT 16.B.3.a Packet Pg. 1290 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) lN WITNESS WHEREOF, the parties hereto have signed betow. Dated ProjecUAcquisition Approved by BCC: AS TO PURCHASER: DATED: ATTEST: CRYSTAL K. KINZEL, Clerk BOARD OF COUNry COMMISSIONERS COLLIER COUNTY, FLORIDA Penny Taylor, Chairperson BY , Deputy Clerk 11 16.B.3.a Packet Pg. 1291 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) AS TO SELLER: DArED:5-l- eOz I WITNESS S (Signature) lon i c-Jirzhcn'on AV: (, d.U-"i i I l,<-l..tYto,* David D. Newman " qrin6af'ame) /Lx\=eu-k.-- tqhatur# h{#.)r,l//), b (Printed Name) WITNESSES ignature) TL (P Name) )\tY M Oc//.,/ Vicki L. Dixon BY /, (Printed Name) Approved as to form and legality Jennifer A. Belpedio Assistant County Attorney eo9^r*t 12 b >- 16.B.3.a Packet Pg. 1292 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) EXHIBIT'A" Commencing at the Southwest corner of Lot 32, of Naples Grove and Truck Co's Little Farms No 2, according to the Plat thereof, as recorded in Plat Book 1, Page 27A, Collier County Public Records, Collier County, Florida; thence along the South line of said Lot 32, Easterly 697.32 feet for the Place of Beginning of the parcel herein described. Thence parallel with the West line of said Lot 32, Northerly 135.0 feet, thence along the North line of the South 135.0 feet of said Lot 32, Easterly 96 feet more or less to the West line of the East 24 feet of the West 290 feet of the South 164 feet of the East six acres, more or less, of said Lot 32. As said West line is described in Official Records Book 192, Page 485, Thence along said West line of the East 24 feet of the West 290 feet of the South 164 feet of the East six acres, more of less of said Lot 32, Southerly 135.0 feet to the South Line of said Lot 32: Thence along the South line of said Lot 32, Westerly, 96 feet, more or less, to the Place of Beginning. Being a part of said Lot 32, of Naples Grove and Truck Co's Little Farms No 2; Subject to easements and restrictions, of record; together with the perpetual right of ingress and egress over, across, and along the North 60.0 feet of the South 195.0 feet except the West 537.32 feet of said Lot 32. 13 -\ 16.B.3.a Packet Pg. 1293 Attachment: Agreement for Sale and Purchase (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) LOCATION MAP – STORMWATER IMPROVEMENTS 2732 FRANCIS AVENUE 2732 Francis Avenue 16.B.3.b Packet Pg. 1294 Attachment: LOCATION MAP (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Appraisal Report 2732 Francis Ave Naples 34112 ,. r--.4.! -^s ti =r..\f td - L r =-{d-. '., \ t] -=qlrf rl L.. f 16.B.3.c Packet Pg. 1295 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Ms. Sonja Stephenson, Sr. PAS Collier County Govemment Facilities Management 3335 Tamiami Trail E. Ste 101 Naples, FL 34112 RE: Appraisal Report 2732 Francis Ave. Naples, Florida 341 12 Dear Ms. Stephenson: In accordance with your request, we have performed an appraisal of the above referenced property. The subject property, as referenced above, is located 2732 Francis Ave, and is further identified with attached property description from Property Appraisers tax ID. The subject property is improved l200sfbuilding and essentially being used as an duplex rental. The legal description and sketch are contained within the appraisal report. The appraisal report will be used for intemal decision-making, by the County Managers Office, Bayshore CRA and the BCC, no other use is warranted. Based upon my analysis ofthe data contained in the attached appraisal report, it is my opinion that the market value of the subject property, as of April l3th, 2021 ,.as is" $280,000. Two Hundred Eighty Thousand Dollars 16.B.3.c Packet Pg. 1296 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) The Subject Property Parcel No 61834240004 Name / Address vtcKl t DtxoN 1844 HARBOR PL State FL Site Address *Disclaimer Site Zone *Note 34112 MapNo. Millaee Area O Sub./Condo Range hll 0.3 Acres *Estimated 5A1 1 504400 032 105A1 1 Legal N G + TC L F NO2 11 502s COM SW COROF LOT3 2, E 697.32F1 TO POB. N 135FT, E 96FT, S 135FT, W 96FT TO POB OR 609 PG 1070 Strap No.Section Township 5O44OO.NG&TCLFUNIT Use Code O EWMAN DAVID 11 1 . MULTI.FAMILY LESS THAN 1 N Occupied Duplex Style dwelling being rented month to month for $1 ,100 each. TtsiJ lBlr.rcls site city NAPTES hrE - City NAPLES zip 341o4iz1g Millage Rates O * Calculations School Other Total 5.016 6.2924 1 1.3084o 16.B.3.c Packet Pg. 1297 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) 10 L2 10 LI L2 1+1 1200 RG.l Estate Account ;518342400(N O Er: NEWMAN, DAVIO D vtcKl t DtxoN 3ltB 2732 FRANCIS AVE NAPLTS 31tr2{219 G.t bilt Dy.mil Taxes are being paid in 4 installments, the last amount of $578.34 is due. The tax amount for 2020 is $1,786.95 50 24 16.B.3.c Packet Pg. 1298 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Rear View ,l Street View ,v' gEF 4tu Slrl-Fi*,.-, - m Front View IEffia i:-- 45-r I aL.J L 16.B.3.c Packet Pg. 1299 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Bedroom bathroom Kitche n t, f'. ilI [it =-l I I-l r rh i 16.B.3.c Packet Pg. 1300 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) $347K t206K 2018 2019 2020 2021 Naples Real Estate Market Forecast 2020 -2021 What is the Naples real estate market predictions for 2020? Let us look at the price trends recorded by Zillow over the past few years. As you can see in the graph below, since mid-2016, the market has cooled off. The home prices in Naples have not appreciated. The median home value in Naples is $334,87'1, and home values have declined -0.2% over the past year. Naples Real Estate lnvestment ls Naples rental property good for investment? Planning to invest in the Naples real estate market? Many real estate investors have asked themselves if buying a property in Naples is a good investment? You need to drill deeper into local trends if you want to know what the market holds for the year ahead. We have already discussed the Naples housing market 2019 forecast for answers on why to put resources into this sizzling market. Homeowners in the Naples real estate market tend to be much olderthan average; the average resident is 65 or older. This creates significant turnover as people die or sell beloved beach homes to move into assisted living. That's aside from the normal turnover driven by job losses, divorces, and bankruptcies. 2011 2012 20't3 2014 2015 2016 2017 CourtGy ol allor| Current Forecast Mar Ar2l - Naples 3327K t300K t253K 16.B.3.c Packet Pg. 1301 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) The Gross Rent Multiplier (or GRM) Gross lncome Method, calculating the gross rent multiplier allows investors to quickly rank potential investment properties based on rental income. The gross rent multiplier (GRM) compares the gross annual rental income to the fair market value of a property. Because the gross rent is used, GRM doesn't factor in normal operating expenses or debt service. . GRM = Property Price / Gross Annual Rental lncome. Property Price = Gross Annual Rental lncome x GRM Thot's why it's useful to develop o GRM groding scole for your morket like this: . Low GRM = old properV with deferred mointenonce or in need of mojor copitol repoirs such os roof replocement, or new heoting ond cooling system. . Averoge 63y = property built within the lost 10 or 2O yeors in need of updoting such os energy efficient windows. replocement of opplionces, or exterior pointing. o Above Averoge GRM = property built within the lost 10 yeors thot only requires routine mointenonce to mointoin property volue ond keep rents ot morket. . Hlgh GRM = brond new property with lower routine mointenonce expense with new opplionces ond stote- of-the-ort electricol, plumbing. ond HVAC systems. The GRM will be considered in this valuation, however most weight will be placed on the Sales Comparison Approach to value. The results of the GRM market research conducted in East Naples is 10 to '1 I .5. Taking the high end of the GRM range, the subject property will top off at $304,000. Gross rent $26,400 x 11.5 (GRM) is $303,600 say $304,000 16.B.3.c Packet Pg. 1302 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Sales Comparison Approach (SCA) The term sales comparison approach refers to a real estate appraisal method that compares one property to comparable's or other recently sold properties in the area with similar characteristics. Real estate agents and appraisers may use the sales comparison approach when evaluating properties to sell. This method accounts for the effect that individual features have on the overall property value. ln other words, the total value of a property is the sum of the values of all of its features. Subject Property 2732Francis Ave. 1,200sf built 1975 Lot size 0.30ac Comp 1 1740 Smugglers CV sold 4/20 @ S307,500 / 1,212sf built 1969 Lot size 0.13ac Similar size, recent sale, similar age, smaller lot size, superior location, the subject property sales price would be less than $307,500. Comp 2 1790 Smuggler8 CV sold 9/20 @ $295,000 / 1 ,430sf built 1970 Lot size 0.1sac Larger size, recent sale, similar age, smaller lot size, superior location, the subject property sales price would be less than $295,000. 2497 Bayside St sold 5/19 @ $260,000 / 1 ,200sf built 1970 Lot size 0.'1Sac Similar size, older sale, similar age, smaller lot size, superior location, the subject property sales price would similar or less than $260,000. 4604 Normandy Dr. sold6/19@$279,500/'1,336sf built 1972 Lotsize0. l7ac Similar size, older sale, similar age, smaller lot size, superior location, the subject property sales price would be greater than $279,500. The subject property has excess land or a larger lot than the typical investment properties in this market area. The excess land 0.14ac is valued at $20,000. Comp 3 The subject property is valued at $260,000 + $20,000 = $280,000 dollars "as is" 4t13t2021 8dril Led, Ra'-ACtuF.€]]6ItE fad R-lPr.psh.Jl3rT@IEIE Sb.l0l Nqlt,E !4112 E: :39-:J:-16:l!m!!ldad4ltdli.todtd6, Comp 4 16.B.3.c Packet Pg. 1303 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Comparable's 1790 Smugglers Cove 1740 Smugglers Cove .\ lI^ dL&t -;, l J "'ijllF-? I 16.B.3.c Packet Pg. 1304 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) 2497 Bayside St Comp 3 4604 Normandy Dr. Comp 4 F -/ --5 H '-1 -\ I \t'4 lr\ L- Fl Ir [- 16.B.3.c Packet Pg. 1305 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Area Map ?ill'.:nttu q I {! {too"yQ tH e Coller sr r.laPt-Es l, tf ,IStrrns ri - Irl,t l a ) It- l )G/ 0 Ret.il I a Eealls W bclt Cluh b,8r€wng I ryh, , ' l'r.n I Slore -"- I !gI 9 "\\ I -r.i 5 i Centr€ HARA I OR raI -'l II D.tr on N6ples 8ayI / 16.B.3.c Packet Pg. 1306 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase) Attf,Itti'a GEin;lGlTlOt Thc ry.Ebcr o.dm.s rnd lo.rcs rtrat ,l . I lrtln rEGsrt lcd lrlc Slrad moatct ates trd tr&! stclcd a rnrtnum oa lhfle reG r*s d prceerta rnogr *nilr d rroxirrl. ]o ,L sJbiild propciry bl cdlst,Grfi,t h thc slha cDmptison alaDlb and hlvc mdc a ddlr ldiu!ffrr'tl r,fEn {pllorlab b r€ncct thG msrtd Gacdo.l b tlcc iE n! ol Cgnificant vrlatim. f I il|'{tc,l{ bm in e co.nplrdb Frpdty b a.Ecalof b, or nm.! lbr.oaaue th . hr ggcd p,opcn , I irsvc ma(b a rcg6th,G ElirrJnE b reduce tlE aqultld r*! p.icc ot tE colrlp..Sh 'nd. f a Cgnlffcrlll lllrr h ! coflper* progady B irtdor b, or lr!3 fryoIlbae flIr 0tc tubicd p(opcrty, I hava mrds ! p6[h,a rirdltcnt b ircrlraa flG a+6d qG. p.h. ot thc cqrpa.,blc. 2 I h8r€ ttlcn lrlo cmair€rstirt t E b(t lrrd h.lrc tt lnprcr dl vat,lc h my darcbo{rlea o, ttE crlhaE of mr ct vrllE h llrat09.!id Egort I htt! nor frEUrEry lrlhhald ary lhrihanl iftflruthn no.n thc lppr$d llgod ,td I hG0.!e. b ttrc bcd o, my knor*ldgr. lhrf C {emqrtsl lrtd irlb.firtin h [lc rpprabal llpo.t Ir tnE rnd coflld 3. I dded h ihe .pprtbd Irpod only my own pcrsood, unbislcd, lnd prcE3$rd mCysis, o(irtorE. lnd qdilbrB, rr c,l .rc sr,rbFd or*y b trra confEGol utd linitB sEftonr lpGd0Gd in fxs b.m. it. I have m pc3.rn 6 pr6p€chre lnbre3t in tlE pmp€dy flsf b U|e $Jbirr, to tha r€pqt, a.n I hal€ m prclcnt or p.oipccrhe pcrlonal inllrcsl or bia witr llrFd b ttre ptrtc+anb ln thc trsr|lrdlon. I did no( b8sa, althar psrtCly or conplcbtiy, lry |,tllylis end/o( thc clfhab ol mr.l(Gl vall/c h tna epp,lkal rcpod m thc Ecc. colo., rlligion, !.r. handcap. imilld !ffi!, or ndo.lat oalgh ol eitier rhe FGpcdrve owrE3 a ocarpanb ol nrc lubied prcperly or o( the pr6e owne{3 or occup.nE o{ the Fopertict in thc Yklnity ol t E srbi€cr poperty. 5. I havo m pG.cnt tr conGnrplal€d tuure hEr€sr h fle sl"Dilct propeny, and ncitfuf my drr"nt or futu.€ ,nplryner rEr rny oompcitsatim ftr padbariho nlb appratsal 6 cstUrngErn m th€ Tp.rsed vatE of the p(operty. 6. I irrt nd rlqutld b rlpod a p.ldG8rntrEd vdrE fi dircd(m h vCur 0rst lbvo(s tra ceJ!. ol f|e dbnt or siy rrblld prny, rhc dnomt o, the vduc eltlnair. rhc sltalrrnct{ ot 6 spacfic r!.ui, fi the ocalnncG of a subBequ€rt c€rn h fitc|f b receirc niy cornpcr|dim and/or ernploy,rlrcrt b pedoflr*lg the ap9.*al. I dld rH bale the appr*d report on a rcqucd€d rfirn n v*,Elbn. I tpadltc vCuatim, ( tlre nccd to lpproy! ! lpccific mqtgagr bsn. 7. I F bmrcd rhB app.sird h conbrmity wlh the Uilio.m S'taodrrl3 o, Mc.sbnd Appra6lt Prac cc frsf liere adortcd .od pmmtlged by flc Appdistl Stttxrtrl Bodd o{ The Appr*d Fou.rdEthn gld that wsc in pbce r5 oa thc ciEr ve d6E of ['|E !09.!bd. ril0r t r crcc hn ol thc d!9llllrlc p.ovitbo ol tr6. Stlrd.dr, *hldr do.3 not apply. I advt[drdg. rhd tn .ldmrtc of ! tlssdLble trIr br oQ6urc m thc opan mtl(tt b s corxritir h trlc drfnhldl o, martct vrLc rtd t,|c carh.E I (brctopad F cootHrnt wtth trle mertr0ng Unc noacd h thc neighbofiood lectlon o, [tb rcporl. urtrss I hav. othari3e *rEd in f|G t€conclbton Eac o.l- 8. I haye peBonaly rEpecred the ir{eru dld ededr de8 ol flc $ltied Fopefiy and tle erbrbr ot a[ propeiles tisEd a3 cornlsrsbl€ h the 4prabal l€po.t. I fuilhe' cer{ly trrat I haw mEd 8ny apparsnt or tnoryn advcrsc cordhorr3 tn ttE $bled lnpro\.€rn6atB. m tic suuoct sib. or on 8fly sita wit rn ttrc imrllrdab viatorily ol thc t$Fd paopcrty ol whch I am a*r€ snd h€v! mdo adjurtnenb 'o. ill€3o adv€E€ cdlditbna h my analysis of fr prop6'ly v8h.E b thr crred tla[ I hed rnat(et evireoce to stppo.l them. I har.e *o co.nme ed about the €{lect of Ete adt erse cqrdllbrB oo the mad(ctatillty of 0le i.rqed propefiy. 9. I pcrlsEly prloal€d !I condusbtB and opirixts rbod tlE rcd cltrE thlt wlr! sat fo(fi h th" apgrabrt rrpod. lf I rdin on sbdficed p.olbssiIlal ass|!finca ttom ay ifirivldusl c irdivdu* rn OE parfurmar ol IIE appadsC q tlt pr€!'rEtin of tne sppraBal tepon, I h8w mmed such indivrdual(s) tnd dbclotcd the lpeclfic l,rsls perrom€d by them h the rccmcitatoo sadioo ot thB ltt)pa*.| ,c9ort I ccrdt th€t gly hdMdual !o nrflEd b qu€lficd to p..lom lhG tasb- I lEvG rEt ruttdizrd myorE b r|al(. a c'htrlgt to my iBrl in trE .!pod: thc(lba, rt 8n un ulrrorizrd dEngc b mde to thc rpp.lisd rcpo.l, I win t'kc m lt3polBibfi,ty 'or iL 16.B.3.c Packet Pg. 1307 Attachment: Appraisal (15918 : 2732 Francis Ave. Agreement for Sale and Purchase)