Agenda 04/12/2022 Item #16C 1 (Real Estate Sales Agreements Conveyed from GAC Land Trust)04/12/2022
EXECUTIVE SUMMARY
Recommendation that the Board of County Commissioners approve Real Estate Sales Agreements
and all documents necessary to convey three parcels of land from the GAC Land Trust to Michael
Saadeh Revocable Living Trust and accept a Reverter, Discharge and Release for each of the
parcels where Avatar Properties waives certain “GAC Agreement” requirements. (GAC Land
Sales Fund 605)
OBJECTIVE: To approve three Real Estate Sales Agreements, Closing Statements, Reverter Discharge
and Releases and Statutory Deeds for lands to be conveyed from the GAC Land Trust.
CONSIDERATIONS: On November 15, 1983, Avatar Properties, Inc. (Avatar), and the Board entered
into an Agreement (1983 Agreement) whereby Avatar would convey, in five pha ses, at no cost to the
County, 1,061.5 acres (+/-) of vacant land (Property) within the geographical boundary of Golden Gate
Estates. Avatar completed conveyance of all parcels to the County as required by the Agreement.
The Agreement was amended in 1989 and then in 1990. These conveyances came with the stipulation
that the Property, and the money derived from the sale thereof, would be used by Collier County for
purposes to directly benefit the residents of Golden Gate Estates.
The subject of this item is the conveyance of three of the eleven remaining 41.31 acres of GAC Land
Trust property. Staff will present the remaining eleven parcels to the Board in a future agenda item.
The proposed transaction follows the same process developed and used by t he County since the 1983
inception of the GAC Land Trust Property Sales program:
1) Since the late 1990s, the GAC parcels have been advertised on the County’s website. Prior to the
County’s website, for sale signs were placed on some of the GAC properties as a general offering
of the property to the public. Most of the properties were sold by the latter method.
2) Buyers have had the opportunity to make offers and provide a ten percent (10%) deposit along
with a fifty-dollar Administrative Processing Fee, and the cost of the appraisal(s), $350 per
appraisal. There was only one potential buyer for these three parcels.
3) Standard-form Sales Agreements have been signed by the representative of Michael Saadeh
Revocable Living Trust and submitted, without deviation, as an offer to purchase the parcels.
4) The three appraisals presented in this item were prepared by the County’s State -Certified
Appraiser and approved by the GAC Land Trust Advisory Committee.
5) Waivers are memorialized in a Reverter, Discharge and Release signed by Avatar and to be
recorded at closing. As background, Paragraph 8 of Agreement requires that Avatar be given the
right of first refusal to acquire any property the County desires to sell or trade. Paragraph 7 of the
Agreement requires that an appraisal be completed by an MAI or SRA credentialed appraiser and
that such appraisal occur within 120 days of the closing date. Avatar has no objection to the
waivers and returned a signed Reverter Discharge and Release, dated March 22, 2022.
6) If the Board approves the sales, staff will prepare the necessary closing documents, which include
a Closing Statement and Statutory Deed.
In the past, during the years when parcels were available for sale a “Blanket Resolution” was
presented to the Board annually. The Resolution authorized administrative processing of GAC
Land Trust standard-form sales agreements, and related closing documents, for Board Chair’s
execution without further Board action. This year, Staff and the Clerk of Court hav e worked
together to present the Board with the Real Estate Sales Agreements. Due to this change in
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04/12/2022
approach the 120 days required for closing elapsed. The appraisals have been updated to March
17, 2022, and the increase in value is nominal as described below. As such, the first appraised
value is recommended for the three conveyances.
The most recent GAC Land sales closed in September of 2021 when the GAC Land Trust conveyed two
parcels to the County’s Transportation Department for the Vanderbilt Beach Road Extension project, and
three other parcels were sold to a private entity or individual. Prior to that the most recent sales, the last
closings occurred in 2009.
Staff provides the Board with an update every few years advising of the remaining acre age in the Land
Trust, as well as those properties being reserved for future governmental use. The last update was
presented to the Board on May 29, 2019, item 16 C 3. To-date, out of the original 1,061.5 (+/-) acres
donated by Avatar, 995.13 acres have been sold. There are 41.31 acres currently remaining for sale, and
24.56 of that acreage are reserved by governmental agencies that include the School District (23.07 acres)
and North Naples Fire Control and Rescue District (1.49 acres) for future conveyance.
The parcels that are proposed to be sold are as follows:
Folio Number: 41824360008 - Teak Wood Drive - 3.92 acres
Appraised Value: $455,000.00, Appraisal dated: November 12, 2021, and is attached. Updated appraised
value as of March 17, 2022, is estimated at $461,000 (1.3% increase)
Folio Number: 37445840005 - 10th Avenue NE - 4.62 acres
Appraised Value: $180,000.00, Appraisal dated: November 30, 2021, and is attached. Updated appraised
value as of March 17, 2022, is estimated at $183,000 (1.6% increase)
Folio Number: 40749320001 - Golden Gate Boulevard East - 1.17 acres (this parcel is combined with
another parcel under the same folio. It is separately described in the agreement.)
Appraised Value: $39,000, Appraisal dated: December 2, 2021, and is attached. Updated appraised value
as of March 17, 2022, remains unchanged.
The sale price contained in each Sales Agreement is 100% of the 2021 appraised value. As background,
Paragraph 7 of the Agreement requires the County to sell at 90% or more of appraised value. On May 28,
2019, Board agenda item 16 C. 3., the Board determined that 100% of the appraised value was the
minimum it would accept. Also at that time, the GAC Land Trust determined, and Avatar agreed, that the
cost for an MAI appraisal was excessive, and beginning with that item the Board began to accept
appraisals from the County’s in-house State-Certified Appraiser in lieu of the MAI requirement.
GAC ADVISORY BOARD RECOMMENDATION: On December 13, 2021, five parcels were
presented to the GAC Land Trust Advisory Board. The advisory board voted unanimously to convey the
three parcels that are the subject of this item at appraised value. However, the advisory board did not
accept the appraised value of the two other parcels. In light of this, appraisals for the remaining 11 parcels
will be updated.
FISCAL IMPACT: All proceeds from property sales, $674,000, will be deposited in the GAC Trust -
Land Sales (605). Presently there is $1,533,486 in GAC Land Sales (605). To date, GAC has funded
$3,111,661 in projects in Golden Gate Estates.
GROWTH MANAGEMENT IMPACT: There is no impact to Collier County’s long-range planning
effort.
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LEGAL CONSIDERATIONS: Chapter 125.39, Florida Statutes, expressly exempts certain transactions
from the advertisement requirements and other process requirements set forth in Chapter 125.35, Florida
Statutes and provides:
125.39 Nonapplicability to county lands acquired for specific purposes.-The provisions of
this law shall not be construed to cover the sale or disposition of any land conveyed to
any county for a specific purpose and containing a reversionary clause whereby said land
shall revert to the grantor or grantors upon failure to use said real property for such
purpose.
This provision explicitly supports the method used and required by the 1983 Agreement. To date,
there has not been a legal challenge to any transaction made in the program and Avatar has been
extremely cooperative in facilitating the winding down of the disposition of the parcels.
As such, this item is approved for form and legality and requires a majority vote for Board action. -HFA
RECOMMENDATION: That the Board of County Commissioners approve Real Estate Sales
Agreements and all documents necessary to convey three parcels of land from the GAC Land Trust to
Michael Saadeh Revocable Living Trust and accept a Reverter, Discharge and Release for each of the
parcels where Avatar Properties waives certain “GAC Agreement” requirements.
Prepared By: Michael H. Dowling, Senior Property Management Specialist
Division of Facilities Management
ATTACHMENT(S)
1. Real Estate Sales Agreement - Michel Saadeh, ID# 41824360008 (PDF)
2. Appraisal 418243600008 dated 11-12-21 (PDF)
3. Real Estate Sales Agreement-Michel Saadeh, ID# 37445840005 (PDF)
4. Appraisal 37445840005 dated 11-30-21 (PDF)
5. Real Estate Sales Agreement-Michel Saadeh, ID# 40749320001 (PDF)
6. Appraisal 40749320001 dated 12-2-21 (PDF)
7. Valuation Analysis Update 3-17-22 (PDF)
8. GAC 1983 Agreement 1983 (PDF)
9. GAC 1983 Agreement Amendment - 4-24-90 (PDF)
10. GAC 1983 Agreement Amendment - 5-22-89 (PDF)
11. MD - Executive Summary GAC Appraisal Waiver and Value (DOC)
12. Blanket Reverter Discharge and Release (PDF)
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04/12/2022
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.C.1
Doc ID: 21441
Item Summary: Recommendation that the Board of County Commissioners approve Real Estate
Sales Agreements and all documents necessary to convey three parcels of land from the GAC Land Trust
to Michael Saadeh Revocable Living Trust and accept a Reverter, Discharge and Release for each of the
parcels where Avatar Properties waives certain “GAC Agreement” requirements. (GAC Land Sales Fund
605)
Meeting Date: 04/12/2022
Prepared by:
Title: Property Management Specialist, Senior – Facilities Management
Name: Michael Dowling
03/15/2022 9:35 AM
Submitted by:
Title: Director - Facilities Maangement – Facilities Management
Name: Ed Finn
03/15/2022 9:35 AM
Approved By:
Review:
Facilities Management Ed Finn Director - Facilities Completed 03/15/2022 12:12 PM
Public Utilities Department Drew Cody Level 1 Division Reviewer Completed 03/15/2022 12:31 PM
Public Utilities Department Joseph Bellone Level 2 Division Administrator Review Completed 03/15/2022 12:41 PM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 03/31/2022 1:26 PM
Facilities Management Jennifer Belpedio Additional Reviewer Completed 03/31/2022 2:26 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 03/31/2022 3:03 PM
County Attorney's Office Heidi Ashton-Cicko Additional Reviewer Completed 03/31/2022 4:42 PM
Growth Management Operations Support Christopher Johnson Additional Reviewer Completed 04/01/2022 4:32 PM
County Manager's Office Dan Rodriguez Level 4 County Manager Review Completed 04/05/2022 11:15 AM
Board of County Commissioners Geoffrey Willig Meeting Pending 04/12/2022 9:00 AM
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REAL ESTATE SALES AGREEMENT
Sales Agreement ll
THIS AGREEMEN'I madc and eniercd inro rhis loth day of Januarl 2022. b].and bet\reenCOLLIER COUNTY. a political subdirision ot rhe Smle of Florida. hercinafter referred to asSELLER. and Michel Saadeh Revocable Living Trust. hercinafter rcfened to as BUyER. whosemailing addrcss is 434 Terracina Coun. Naples. Florida j4l 19.
\f'HEREAS. SELLER desires ro sell. and Ut,yER desircs to purchase. rhc properq hereinafter
described. at the price aod on the terms and conditions hercinafter set forth.
NOW. THEREFORE. in considcration of the rcctals. the mutual covenants hcrcinaffer setfonh and other good and valuablc considemtions. the reccipr and sufliciencl of shich arc hercb1.
mutually ackno$ledged, it is agrecd by and bet,r'ecn the panics as follo$s:
I. PREMISES
The real property. which is the subject of this Agreemenr. (hercinaffer referred to as
"Prcmises") is legally described as:
THE WEST IM FEET OF TRACT 53, GOLDEN GATE ESTATES, I,"\IIT NO. 95. ACCORITL\IG TOTIIE PLAT THEREOT, AS RECORI'EI! Ill PLAT BOOK 9. AT PAGf, {5. OF THE PUBLIC
RXCORDS OF COLLIER COUNTY, FLORIDA-
Folioit..umbcr: .l I t24360008
Parccl 71. Phasc I
AcreaSe: I .92
2. SALE and CO\\'!-\,A\CI:
A. SELLER agrecs to sell and convey the premis€s to BUYER. and BUYER agres to puchas€ the
Premises from SELLER, at thc price and upon the other terms and condilions hercinafrer sei forth:
L All ofSEI.LER's righr. title and interest in and ro thc premises.
3. TITLE
A. fitle to the PREMISES shall bc conveyed to BUYER by Staturory k.
4. PURCHASE PRTCE
The Purchase Price ("Purchase Price") for the Premis€s shall be Four Hundrcd Fift;.'-five Thousand
Dollarc and No Cenrs ($455,000.00), payable by BUyER to SELI,ER as foltows:
A. Concurentl!. rrilh the exccution hercof. BUYER shall pa) io SEI_I_ER. as earnesr monev
hcreunder ("Eamesl Mone!") rhe sum of Forn -four Thousand Five Hundrcd Dollars (5#.500.00)
99]t -a No Cenrs. which rcpresenrs the balance of rhe ten percant (10%) of rhe purchase pricc.
BUYER previously providcd One Thousand Dollars and No Cents (gt.OO0.OO) to SEl.t,ER and this is
crcdit is reflected in the Eamest Mondal. no* duc.
B. The balance. aftcr credil for the Eamest Mone;.'. and plus or minus an1. funher prorations and
adjustmonts. shall be paid by BUYER to SELLER at closing.
5. APPRAISAL
6. Rt(il 'oF FI T REFUSAL
Thc BUYER lirnher ackno\ryledges that any appraisal fees and/or updare l'ees for the abovedescribed
Prcmises shall be the sole and complere responsibility ofBUYER. BUyER has paid the Appraisal fee in
the amount of Thrce Hundred Fift:- ($350.00) Dolla$ pre\iousl).
The BLTYER acknouledges that hc has been adlised of the righr of first rcfusal to purchase the
Premises on the same tcrms as contained in this ,.\grBemcnt b) AYatar p.openies lnc. If Avatar
exercis€s its rights undcr fiis paragraph. BUYER shall receive a full rcfund of their Eamest Moner.
Avatar Properties lnc. *ill be responsible for pa1'menr ofthe appraisal fees and.ior updare fees if it elects
to exercis€ its right to purchase.
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Packet Pg. 1056 Attachment: Real Estate Sales Agreement - Michel Saadeh, ID# 41824360008 (21441 : GAC Land Sales)
7. DISCLAIMER OF WARRANTIES; "AS IS" CONVEYANCE
A. BUYER wa'anls and ackno\r.lcdges to and agrees *nh SELLER that Bt_ryER is purchasing rhePrcmises in an "AS lS" condition and specificalll.and expressll. uithout any u.arrantics. i.p."reouiinn.or guaranrces. eithcr exprcss or implied. ofan) kind. natue, or type whatsoever from or on behalfoftheSELLER. The B-LTYER ackno*ledges and agrces rtrat SUyEif. in entering inro this ,+greement anJpurchasing the subjecr propcn].-. is nor relling on anl. represenrarions maae
-U1.
Sf l_Len -rcgarding
rhccondition or future developabilir) ofthe poperty.
B. BUYER acknowledges that BUYER has madc andior has becn giren an adequate opponunir,v tomate such legal. facrual and orher inquiries and in\esrigations as BUyER deems necessan. desirable orappropriatc \r'ith respecr to the Premis€s.
, C. Withour in an1 r.ra1 limiring thc prcceding paragraphs. BUyER acknouledges slrd agrees rhal he
l$9t::rf:r. rclcases and di..hargcs any claim thal hc has. might have had. or-may ha'i against thestLLtR wrth respecl lo the condition ofthc prcmises.
t. PRORATIONS AND ADruSTMENTS
-A. Thc follouing irems shall be prorared and adjusred ber$e€n SELLER and BUYER as ofmidnighrofthe day preceding closing:
.1. All installments ofspecial assessmcnts payabre after the crosing. *hcthcr for u,ork commenced
as ofthe closing or othcru,ise. shall be paid exclusivell. b1. BtlyER.
2. All other itcms requircd bv any other provision ofthis Agr€cmcnt to bc prorated or adjusred.
B. At rhe closing. the amount of proration and adjustments as aforesaid shall be dctcrmined or
cslimated to the extent practicable and the monetan adjustment shsll be made between sEr,LER andBUYER. All such prorations and adjustmenrs shall be fiaal.
-c. BUYER hereby agrees ro indemnis and hold harmless sEt.LER from and againsr cach obrigation
ofSELLER for which. and ro $e extent that, crcdir has been given to BUYER at fi; dme ofclosirig.
9. DEFAULT: TERMINATION
A. If BUYER dcfaulrs hereunder. thcn provided SITLLER is not in defaulr. SELI.ER's solc remedvshall b€fo terminate this Agreemcnt b1 giving Wrinen Norice thercof to BUyER. *hereupon rhe
!y:r]_Y"""1 shall b€ rctaincd by or paid to SELLER as liquidated damages which shalt bcSELLER'S sole and cxclusive remedy. and neither part), shar have any furthcr riabirity or obrigatioD to
thc_othcr. The psnies ackno*'ledge and agree rhar SELLER'S acrual damages in rhe evcm of g-uyER,s
default are uncenain in amount and difficult to ascertain and that said aiount of riquidared damages
was reasonably determined by mutual agreement between the panies ond said sum was not intended to
be a penahl- in naturc.
B. lf SELLER defaults hcreunder and such default has not been curcd within thirty (30) days afterwrinen Notice of such dcfault ro SELLER. and provided BUyER is nor in defaur!. BUyER mav
terminate this Agreement. rrhereupon the Eamest \,lone-r shall be pmmply retumed to BUyER and
neither paq' shall hare any further liabiritl' or obrigation to tlre othei.
-Notujrhstanding
anrhing
containcd in this Agrecment to the contrary. rhe foregoing shall be BUyER's sole and exclusive remedi
and shall preclude BUYER from the cxercise ofanv orher remedv.
IO. EXPENSES
An1 and all costs and expeoses incurred b! SELLER in connection $.ith this uansacrion(excepting SELLER'S anomeys' fees and Real Esraie Commissions). including. \ ithout limitarion.
rccording fees. convcyance fccs. appraisal fees and;or update fees. senlehenr fe€s. closing costs. and
transfer. documentaD and intangible t&xes ofevery natur€ and kind whatsoevsr. shall bc bome and paid
b1 BLIYER.
I I. INTERMEDIARIES
A. Any and all brokerage commissions or fees shall be the solc rcsponsibiliry of rhc BUYER.
BUYER shall indemnifi SELLER and hold SELLER harmless from and againsr any claim or liability
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Packet Pg. 1057 Attachment: Real Estate Sales Agreement - Michel Saadeh, ID# 41824360008 (21441 : GAC Land Sales)
fot _coomission or fces to any broker or ary other pe.son or pany claiming to havc b€.n engaged b1.BUYER as a rcal estate broker, salesman or refresentati'i. in connecion *.ith this A[re-cmcni.including coss and rcasonablc attomeys' fecs incident thercto.
B. This provision shall survive closing.
I2. CLOSTNG
^ CIosinS shall rale place during normal business hours at thc County A[omcy,s Oflice, Collicrcoun$ courhous€. 3l0l East Tamiami rrail. Naples. Florida.34ll? or such other locarion asSELLER ma)'selecr, \ 'ithin 120 days ofrhe appnisal datc.
I3. GENERAL PR OVISIONS
A. This urinen Agrccmcnt. including all cxhibirs attached hqsto and documcnts to be derivercdpusuant hereto. shall constitute th€ entire agreement and understanding of thc panies. and there are noother prior or contsDporaneous *rinen or oral agreements. undcrtikings, promises. tzrranties or
covenants not contained herein.
. B. This AgcemeDl may be amended only by a wrinen memorandum subscquently cxecuted by all of
the paflies hereto.
C- No waiver ofany provision or condirion ofthis Agre€ment by any pany shall be valid unless in*riting signed b1 such pa4'. No such qai'er shall be taken o u r""iu", of any other or similarprovision or ofany futurc evcnt. act or default.
. D. Time is ofrhe ess€ncc ofthis Agreemcnr. In rhe compuration ofany period of time provided for
in-this Agreemen or by law. any date falling on a Saturdal., 'sunday
or leg;'holi&y shsll bc dcemed iorcfer to the next day which is not a Saturday. Sunday or legal holiday.
E. In the e'!'ent that an)'provision ofthis Agrcement shalr be uncnforceable in uhore or in pan. suchprovision shall be limited to the extent ncccssar)' to render thc samc valid. or shall be cxcised from this
Agreement. as circumstances require. and this Agrcement shall be construed as if said provision had
been incorporatcd hcrein as so limited. or as if said provision had not been incruded herein. as the case
may be.
-F..
Headings of paragraphs are for convenience of rcfercnce only, and shall not be construed as a part
of this Agreement.
G. This A$eemenr shall be binding upon and shall inurc to the bc,'efit ofthe parries hercto, and rheir
resp€crive heirs. exccurors. pcrsonal representatives. successo* and assigns. provided. ho\r'ei.er. thal
this Agreemcnt may not bc assigned b1 BUYER \r ithour the prior express-o.ritlcn cons€nl of sEL LER.which cons€nt may be withheld for any reason whaBoever.
. H. An1'and all noticcs permincd or rcquircd to be given hereunder shall bc in uriting and shall beeithcr pe-rsonall) dclivercd to the pa4,or shall be sent by United Statcs mail. postagc prepiid. registercdor cenified mail. An!. such notice shall be deemed gi'en and cffcctivc upon ieccipi or rciusal of
delivery thereofby the primar] parB'to uhom it is to be sent.
I. This Ageemenr shall be govemed in all respects b1 rhe la*.s ofthe Statc of Florida.
. J. .This .Agrcemenr ma1' be executed in any number of counterpans. an) or ar ofwhich ma! contain
the.signaturcs ofless than all ofrhe lnnies. and all ofnhich shati bc conitmcd togethcr as bui a singre
lnsilulnent.
K. Possession ofthe Premises shall be delivered lo fie BUYER al closing.
L. Thc uord "ciosing" or u'ords of simirar impon as used in this Agreemcnt. shalr bc construed to
mcan the originall) fixed time and closing date specified herein or an1. adjourned time and dare
provided for herein or agreed to in rrriting bv the parries- or any earlier date permined herein.
M. This Agreement is beh^,een SELLER and BUYER and no other party shall. under any
circumstances. be deemed to be a beneticiary of an]- of the terms and conditions io be pcrformed by
SELLER pursuant to this Agreemenr.
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16.C.1.a
Packet Pg. 1058 Attachment: Real Estate Sales Agreement - Michel Saadeh, ID# 41824360008 (21441 : GAC Land Sales)
. N.
^All of the panies ro rhis Agreement have paaicipared fully in the ne8oriation and prcpararion
hcrcof:.and, accordingly. this Agreement shall not be morc stricily construed against an-,-'one of thepanies hereto.
O. .Ncither rhis .Ageemcnt nor any memorandum or evidcnce hereof shall be roconrled in an), public
records by BUYI,R. If s. rccorded by BUyFlR. lhis Agrecmenr shall be deemed ipso facto canceled
and lcrminated. the Eamcst Mone).. (including anl.additional eamesl mone!.which ma! ha\c been paidpursuant to the Agreemenl). shall thereupon be rctained b) or psid to SELLER as liquidated damagcsfor s,ch default. and BUYER shall have no fi,ther interesi in the premises, punuant to this Agrccminr
or otheruise.
.. l. ..qnl' prior agrcements. representations. underslandings or oml statcmcnts. including. but not
limited ro rendering or representations contained in sales brtrchures. maps. sketches. advcnisiig or sales
materials. and oral statemcnts of sales representati'es. if not expressed in this Agreement. arc raid. have
no efl'ect. and have nor been relied upon bI BUYER.
lN WITNESS WHEREOF, thc panies have caused this Agrceme lo be executed as ofthe day and
] ear fir$ above urinen.
AS TO SELLER
DATE:
ATTEST:
Crystal K. Kinzel. Clerk
BOARD OtJ COUNTY COMMISSIONERS
COLLIER COUNTY. FI-ORIDA
1$i lforn L. Mc Dor',el .!-. , C,t.ai r
. Deput) Clerk
AS 1'O BUYER
DATE:
Itness (signaturc)ichel Revocable Living
g,co&J.t
(pri nl name)
tlness signature)
(prinl name)
STA] I] OF tL_
COUNTY OF /- ,1\i ,, l
SWORN TO and subscribed beforc me by means of 1'sical presence or I online notarization thisph
lAda.t of 20* b1 Michel S aadeh. Such persofl( s )
Notary Public musl check applicable box:
are personalll kno\rn lo me.
produced her current driver licens€
produccd as idenlilication
(\otin Serl)
My Commission Expircs: 2/ I -r I ? 3,
Approved as to form and legaliq
^ldr, Artt sraa d FtrL
;q '.r!l iro Gc$zt5l
!orr6eo, Eer- 02n 7@l
Jenni A. Belpedio.stant Counl! Attome),tP
BY:
#F
Printed \amc of \oral1 : <ll*f{ SM AA^/
commission Number,
' G657F3-
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16.C.1.a
Packet Pg. 1059 Attachment: Real Estate Sales Agreement - Michel Saadeh, ID# 41824360008 (21441 : GAC Land Sales)
Folio Number: ,t I t241600ot
Perccl Tl. Phasc I
Acrcagc:3.92
I, lhe undersiened. do herebv
r$. 50.00r. o-n ttris ,t-aar acknowlcdge rcceipt of a total of Forty-four Thousand Dollars
of Ja$.' . ?022.
,)-
DEPOSIT RECEIPT
Michael
16.C.1.a
Packet Pg. 1060 Attachment: Real Estate Sales Agreement - Michel Saadeh, ID# 41824360008 (21441 : GAC Land Sales)
Vacant Land Appraisal Report
XXXX Teak Wood Dr. (no site address)
,)-. ,*;..
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Packet Pg. 1061 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this
appraisal assignment and the reporting requirements of this appraisal report form, including
the following definition of market value, statement of assumptions and limiting conditions, and
certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of
the interior and exte or areas of the subject property, (2) inspect the neighborhood, (3) inspect
each ofthe comparable sales from at least the street, (4) research, verify, and analyze data
from reliable public and/or private sources, and {5) report his or her analysis, opinions, and
conclusions in this appraisal report.
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the
property that is the subject of this appraisal for a mortgage finance transaction.
INTENOED USER: The intended user ofthis appraisal report is the lender/client.
DEFINITION OF MARKET VALUE: The most probable price which a property should brinB in a
competitive and open market under all condition's requisite to a fair sale, the buyer and seller,
each acting prudently, knowledgeably and assuming the price is not affected by undue
stimulus. lmplicit in this definition is the consummation of a sale as of a specified date and the
passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically
motivated; (2) both panies are well informed or well advised, and each acting in what he or she
considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open
market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial
arran8ements comparable thereto; and (5) the price represents the normal consideration for
the property sold unaffected by special or creative financing or sales concessions+ granted bV
anyone associated with the sale.
16.C.1.b
Packet Pg. 1062 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
Summary of lmportant Data Conclusions
Property lD 41824360008
Add.ess No Site Address, Teak Wood Dr. Naples g4i.l9
Legal GGE Unit 95 Wl8oft ofTR 53 OR 1257 pc 79zt-803
LotSize 3.92 acres (Property Appraiser)
Lot Shape Rectangular
Lot Utility Buildable, H & B Use Residential
Zoning Estates Zoning, Vacant Land
Owner Collier County Government
Buyer
Client GAC Land Trust
lntended Users Collier County & GAC Land Trust
Current Use Treed Vacant Land
Date of Appraisal 1111212021
Date of Appraisal Reporl '1111212021
lnterest Appraised Fee Simple, Ma.ket Value
Appraised Value "as is" $455,000
16.C.1.b
Packet Pg. 1063 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
The Subject Properly
Estates Zoning
hrrl No 4r&a36(P08
t{erno / Addrrrr cotItER o{TY
C/O REAI PflT'PBTY TAT{TGTEIT
3335TAtt XtTRE,SItrot
ory ilAPtts strt FL
Secdon TownehipStrep No.
t559oll 53 ilEO4 a a9
t g.! GOTDEN GllE E r UMf 95 tY 18OFT OF TR 53 OR 1257 p6 79a-8ot
lfilrr-|nf,. a5
S6./Codo 1550 - GOLIrtN GrIIE EiT UNIT 95
lrlr Cod. O 85 - O(rurnES INCllrDlilG lrOt{-muNrctDAt @Y.
Sft.City NAPITS Sitr Zonc'floh ililll9
Ap }l112
Rrngr Acrc rErtimrtrd
25 1.92
tilhgn Rrbro tlqd.tionr
Scltool Oft.r Tot l
16.C.1.b
Packet Pg. 1064 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
3U((5 fUt,
O
o
Area Location Map
PALM ROYALE
+
42t21
Gor.r.n Gr
Pinc Bidgr qd P,.e Ridge qo
2mE glh
lill
!:.,ir,trilt 6u.(,r rid
nlyJrus
ntryctub
Vineyards
F -e ! J:L ?:.
16.C.1.b
Packet Pg. 1065 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
Current Real Estate Market Trends
Naples Market Trends
M.di.n ListPrice Medi.n 3/Sqft
3569,900 i28l/sqrt
6m/F .?r* y/r 18116 rltrtr
no
ii.d-lHomsts sqtt
2,On
la.drt Dry. m tr..t r
r88
TIE m.dl.n lit f'ric. ot hollE in tt[rpb., rr wo tlaO.FO i.
ocrot€r 2o2l , .mpiod ro t469,ooo in 2o2q up 21t FGoB-
N+la, FL i....lt '.n.t t in Octotrr 2O2l Ehich lt$tu rhlt
rifi. r. ffi. F.opr. borilt to buy ih.n rtr. .E tdi.. a,.[.bt
a Month. I \bd 2 Yq.s 5 Ydrs
Similar vacant land lots for sale
4248 lstAve NW Naples, FL 2.27ac 5420,000
4792 11th Ave SW Naples, Ft 2.5oac S45O,OOO
740 13th ST NW Naples, tL 2.27ac S2SO,OOO
XXXX 21st St NW Naples, FL 5.0oac 5650,000
580 Logan Blvd N Naples, FLL.LTac 5250,000
XXX 0000 Sycamore Dr Naples, FL 2.26ac 5450,000
I*aiHtu
16.C.1.b
Packet Pg. 1066 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
Sales Market Valuation
The subject property consists of 3.92 +l- acres, located on Teak Wood Dr. off Logan Blvd.
The current lots for sale in this market area range in price from $25O,OOO to $650,000 dollars with median
lot listing price being $450,000.
Comparable closed sales in the market area.
1. 81740000062 4.56ac(2 lots) sold for $570,000 in June of 2021.
4861 Mahogany Dr. sold for g'125,000 per acre, no adjustments, results in $125,000ac
2. 38280680005 3.76ac sold for 9415,000 in June o12020.
4861 Mahogany Dr. sold for $1 10 ,372 pet acre adjusted 5% for corner / traffic, results in $i 16,000ac.
3. 56340000028 2.83ac sold for $425,000 in Nov. of 2020.
5381 Mahogany Dr. sold for $150,'177 per acre. Minus 20% for sales concession, results 9120,000ac
4. 418272OO1O7 2.81ac sold for 9300,000 in May o12021.
5226 cherry wood Dr. sold for $106,762per acre, add 10% for location, results in $1 17,500ac
5. 383960400052.27ac sold for $200,000 in December o12020.
5148 Hawthorn Woods Way. sold for $88, 105 per acre, add 15o/o for location & Mkt time, results in
$'101,500ac.
Reconciliation of the market data.
Taking into consideration the above adjusted sales market data, the adjusted per sale average of all the
market data is $1 16,000 per acre for the subject property.
The subject property is 3.92ac +/-, the per acre unit value in this market area is $.t20,00ac
3.92ac x $1 16,00 is $454,720 rounded to $455,000 dottars.
R6t[LErd,R:-AC
Sr. R!ri6 .ApFrita
F..ni!.. Llort D.n i 8r.l PrFrv
3135 TErer T lE SL.l0l
N.pi!r,IL 3111, !L 239-2Jl-261I
16.C.1.b
Packet Pg. 1067 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
Comparable sales pictures
Subject property
\,..
I
vk, [t
i
E
',|
t-l
Comp 1
16.C.1.b
Packet Pg. 1068 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
Comp 2
Comp 3
f-f', - t i
16.C.1.b
Packet Pg. 1069 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
Comp 4
Comp 5
l.i
16.C.1.b
Packet Pg. 1070 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraise/s certification in this report
is subject to the following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property
bein8 appraised or the title to it, except for information that he or she became aware of during
the research involved in performing this appraisal. The appraiser assumes that the title is good
and marketable and will not render any opinions about the title.
2. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs,
deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the
inspection of the subject property or that he or she became awa re of du ring the research
involved in performing this appraisal. Unless otherwise stated in this appraisal report, the
appraiser has no knowledge of any hidden or unapparent physical deflclencies or adverse
conditions of the property (such as, but not limited to, needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that
would make the property less valuable, and has assumed that there are no such conditions and
makes no guarantees or warranties, express or implied. The appraiser will not be responsible for
any such conditions that do exist or for any engineering or testing that might be required to
discover whether such conditions exist. Because the appraiser is not an expert in the field of
environmental hazards, this appraisal report must not be considered as an environmental
assessment of the property.
APPRAISER'S CERTIFICATION :
The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal
in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a com plete visua I inspection of the interior and exterior a reas of the subject property. I
reported the condition of the improvements in factual, specific terms. I identified and reported the
physical deficiencies that could affect the livability, soundness, or structural Integrity of the property.
3, I performed this appraisal in accordance with the requirements of the Uniform Standards of
ProfessionalAppraisal Practice that were adopted and promulgated by the Appraisal Standards Board of
The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
4, I developed my opinion ofthe market value ofthe real property that is the subject of this report
based on the sales comparison approach to value. I have adequate comparable market data to develop
a reliable sales comparison approach for this appraisalassignment. I further certify that I considered the
cost and income approaches to value but did not develop them, unless otherwise indicated in this
report.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject
property, any offering for sale of the subject property in the twelve months prior to the effective date of
16.C.1.b
Packet Pg. 1071 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
this appraisal, and the prior sa les of the subject property for a minimum of three years prior to the
effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a
minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this
re po rt.
7. I have not knowingly withheld any siBnificant information from this appraisal report and, to the best
of my knowledge, all statements and information in this appraisal report are true and correct. 16. I
stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and
conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
8. I have no present or prospective interest in the property that is the subject of this report, and I have
no present or prospective personal interest or bias with respect to the participants in the transaction. I
did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal
report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of
either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by
law.
9. My employment and/or compensation for performinB this appraisal or any future or anticipated
appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would
report (or present analysis supporting) a predetermined specific value, a predetermined minimum value,
a range or direction in value, a value that favors the cause of any party, or the attainment of a specific
result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
10. I personally prepared all conclusions and opinions about the real estate that were set forth in this
appraisal report. lf I relied on significant real property appraisal assistance from any individual or
individuals in the performance of this appraisal orthe preparation of this appraisal report, I have named
such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any
individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and lwill
take no responsibility for it.
16.C.1.b
Packet Pg. 1072 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
Ron DeSantis, Governor Halsey Beshears, Secretary
STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
FLORIDA REAL ESTATE APPRAISAL BD
THE CERTIFIED RESIDENTIAII APPM|SER HERETN tS CERTIFtED UNDER THE
PRovlsloNs oF CHAPTER 475, FLORIDA STATUTES
: ,i . '' " ,
LICENSE NUMBER: RD3287
EXPIRATION DATE: NOVEMBER 30,2022
Always verify licenses online at MyFloridaLicense.com
Do not alter this document in any form.
This is your license. lt is unlawful for anyone other than the licensee to use this document.
16.C.1.b
Packet Pg. 1073 Attachment: Appraisal 418243600008 dated 11-12-21 (21441 : GAC Land Sales)
Folio Number: 37145840005
Prrcel 13. Phas€ I
Acrclgc:.1.62
REAt- ESTATE SAl-ES AGREEMEN-T
Sales Agreement Il
TIIIS ACREEMENT madc and enlered inro rhis l8$ d.) .f.:w"fino *,o..nCOLLIER COUNTY. a poliric8l subdivision of fie Srate of Florida. hercinaftcr rcfcrrcd ro as
SELLER, and Michel Saadeh Rcvocsble Living Trust, hcreinafte,Efcncd to a! BUYER. whose
mailing address is 434 Teracina Coun. Naples. Florida 341 19,
WHEREAS- SELLER desircs to s€ll. and BUyER dBires to purchasc, the property hereinaRer
described, at the price and on the terms and conditions hereinaffer sct forth.
NOW. THEREFORE. in consideration of the recitals. the murual covenants hercinaffer s€t
fonh and other good and valuable considerations. the rcceipt and sufiiciency of *'hich are hereb.v
mutuallv acknowledged. il is agreed by and belq.ecn the psnics as follo$s:
I. PREMISES
The real propen]-, which is the subject of thjs Agrcemcnt. (hercinaftcr referred to as
"Prcmises") is legally described as:
All of Trr.t. t9r GOLDEN GATf, ESTATES, UNIT NO. l?, .c{ordilt ro thc pt a th.rto( r! rcodcd in
Plat Book ? .t p.g.. 5 rrd 6, of ttc publlc R..ord! oaColll.r Coontv, Fhridr.
2. SALE and CON-V EYANCF]
A. SELLER agrces to s€ll and convq,the Premis€s to BUYER. and BUYER agrE€s to purhase thc
Premises from SELLE& at the price and upon the other terms and conditions hereinaff., rifonh,
l. All ofSELLER's ri8ht. tirlc and interest in and ro the prcmises.
3. TITLE
A. Title to the PREMISES shall be convel,ed to BUYER b,! Sraruto!_r,, Dced.
4. PURCHASE PRICE
The Pwchas€ Price ("Purchase Price") tbr the Premises shall be One Hundred Eighty Thousand
Dollals and No Cents ($l t0.000.00). pa1'able by BLTYER to SELLER as followsl
A. Concurrntly. with the execution hercof. BUYER shall pay to SELLER, as carnest money
hereunder ("Eamest Monq,") rhe sum of Seventecn Thousand Ninc Hundred Dollars ($17.900.00)
P.l]gt- *a No Cents. \f,hich rcprescnrs rhe balance of the ren percenr ( l0%) of rhe purchase price.
BUYER previously ppvidcd Onc Hundred Dollars and No Cents ($100.00) to SELLER and tiris is
credit is reflected in the Eamest Mondar nou, due.
B. The balance. after credit for the Eamest Money. and plus or minus any funher prorations and
sdjusunents. shall be paid bI.BUYER r SEI_[.ER at closing.
5. APPRAISAL
The BUYER funhcr acknowledgcs thst ary appraisal fees and,ror updatc fees for thc abovedcscribed
Prcmises shall be the sole and compler responsibiliq ofBUyER. BUyER has psid the Appraisal f'ee in
thc amount of Three Hundred Fift.v ($350.00) Dollars previousll.
6. RIGHT OF FIRST REFUSAL
Thc BLTYER ackno$ledgcs that h€ has bccn adrisrd of the right of first rcfusal to pwchase rhe
Premises on the same tcrms as containcd in this Agreemenl by Avatar propenies lnc. lf Avatar
exercises its rights undcr lhis p$agraph. BLIYER shall rcceive a full rcfund of their Eamesl Monev.
A'atar Propenics Inc. *ill be responsible for pa-,-ment offie appraisal fees and;or updare t!:es ifir clecl
to exercis€ its right ro purchas€.
16.C.1.c
Packet Pg. 1074 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 37445840005 (21441 : GAC Land Sales)
7. DISCLAIMER OF WARRANTIES:"AS IS"
I I. INTERM DIARIF-S
YANCE
A. BLTYER warants and aclrou.ledges to and agrees uith SELLER rhst BUyER is purchasing the
Prcmises in an "AS IS" condition and specifically and expressly \ ithout any u.arranties. reprcsentaiions
or gualantees, eithcr express or implied, ofsny lind, naturc, or type whatsoever fiom or on behalfof theSELLER. Thc B-UYER acknowledges and agrees ttrat SUyEi. in entering into this Agrcemcnr anj
purchasing the subject properq.. is not rcl),ing on an) reprcsenratiorE made -by SELLERiegarding thc
condition or furute deyelopabilitv ofthe pmpcnl.
B. BL,YER acknowledges that BUYER has made and/or has bcen givcn an adequate oppoftunily to
make such lcgal. factual and other inquiries and in'cstigations as BUyER dccms nccessan. dcsinbli or
appropriate \rith rcspcct lo thc Prcmises.
. C. Without in any way limiting rhe prcceding paragraphs, BUyER acknowlc{ges and agrccs that he
her-eby waivcs, releases and discharges any claim that he has. might have had. or-may havi against the
SELLER l,ith rcspect to the condition ofthe premis€s.
8. PRORATIONS AND ADJUSTMENTS
-A. The following items shall be prrrated and adjusred bet*c",r SELLER and BUYER as ofmidniShr
ofrhe day prcceding closing:
l. All inslallments of special assessmcns payable affer the closing, whether for work commenccd
as ofthe closing or otherwise. shall be paid exclusively by BUyER.
2. All other items requircd b!. ally other provision ofthis Agreemcnr lo b€ prorated or adjusrcd.
B. At the closing, the amount of prcration and adjustments as aforcsaid shall be determined or
estimated to thc cxr.nt practicable and the monetaD adjustmenr shall bc madc bet.^.een SELLER and
BUYER. All such !,Ioratiolls and adjustmcnts shall be final.
-C. BUYER hercby agrees to indemni$ and hold harmless SELLER from and againsr each obligarion
of SELLER for which. and to the exlenr rhat. crcdit has b€er given to BUyER at G time ofclosirig.
9. DEFAULT: TERMINATION
A, If BUYER d€faulrs hereunder. rhen provided SELLER is not in dcfault. SELLER,S sole rcmcdy
shall be to tcrminare this Ageernent by giving Wrinen Notice thcrcof ro BUyER. u.hercupon the
!g:s] Yonly shall bc rcrained b1.or paid ro SELLER as liquidatcd damages l^.hich shall besELl FR's solc and exclusi'e remedl. and neirher parn shal ha'e an!. furrhcr liabirig or obligation ro
the-other. The panies ackno\rledge and agree that SELLER,S actual damages in thc event of BUYER,S
default are unceriain in amou[t and difficuh ro ascenain and that said arnount of liquidated damages
was reasonably detemined by mutual agrtcment between the panics and said sum u,as nol intendealo
be a penah- in natue.
B. If SELLER defaults hereunder and such default has nor been cured $ithin thin:- (j0) days afferwritten Norice of such default to SELLER. and provided BUyER is not in defaull BUyER mav
leminatc this AgrBement, whereupon thc Earnesr N{oney shall k promptly rctumed lo BUYER and
neithe. party shall ha'e an,' furher liabili[. or obligation to the orhei. Norr,rithstanding anything
contained in this Ageement lo the contra[. rhe foregoing shall be BUyER's sore and cxcrusirc rcmcdi
and shall preclude BUYER 6om rhe exercis€ ofan). orher rEmcdy.
IO. EXPENSES
An) and all costs and expenses incuned bv sEr,LER in connection *ith this rransaction
(excepting SELLER'S attomeys'l'ees and Real Estate Commissions). including, without limitation.
recording. fees. conveyance fees. appraisat fces and/or update fees. senlcment feis. closing costs. and
tlansfer. documentaq and intangible taxes ofe'cr1 narure and kind u.hatsoe'er. shall be boire and paid
bv BUYER.
A. An) and all brokerage commissions or l'ees shall be the sore responsibirit! of the BL,YER.
BUYER shall indemnif, SELLER and hold SELI-ER harmless from and against an1., claim or liabilitr
for commission or fees to any broker or any other !,erson or party claiming to havi been engaged bi
16.C.1.c
Packet Pg. 1075 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 37445840005 (21441 : GAC Land Sales)
BUYER as a rcal esrate broker. saresman or Ep.Esentativc. in conncction uith rhis Agreement.
including costs and rcasonable anomeys' fees incident thercto.
B. This provision shall survivc closing.
I2. CLOSING
^ Closing shall take place during normal business hours at the Counry Anomey,s Office. Colliercounry counhouse. 330l East Tamiami rrail. Naples. Florida. 34 2 or such other locarion as
SELLER ma]' s€lecr. \r'irhin 120 days ofrhe appraisal date.
I3. GENE&AL vlstoNs
A. This written Agreemenl including all exhibits attached herero ard documents to bc delivered
pursuant hereto. shall constitut€ the entirc agrcement and undc$randing of the panies. and therc are no
other prior or contcmporaneous l,vriltcn or oral agreements. underlakings. promises. uarranties or
covenarts not contained herein.
- B. This Agrccmcnt may be amcnded only by a w en mcmorandum sub,scquently exccuted by alt of
the paflica hereto.
C. No u.aiver ofanl' provision or condition of this Agreemcnt bl aq., pa4. shall be \,atid unless in
wriring signed by such party. No such traiver shall be tskcn as a *"i"er of anv othcr or similar
provision or ofany future event. act or default.
. D. Time is ofthe essence ofthis Agreemem. In the computarion ofanv period of time pro'ided Ibr
inthis Agreement or b) law, any date l'alling on a saturday. sunda) or legal holiday shall be deemcd to
refer to the next day which is not a Saturday, Sunday or legal holiday.
E. ln fic cvent that an1'pmvision ofthis Ag:eemenr shall be unenlbrceable in \a.hole or in pan. such
provision shall be limited ro the extenr necessar] ro render the same ralid. or shall be excised lrom this
ASreement. as cilcumstances rcquire. and this Agreement shall be construed as if said provision had
been incorporated hercin a! so limitcd. or as if said provision had not teen included herein. as the casc
may bc.
_F.. Headings of paragraphs are for conr.enicnce ofrefcrcnce ont!.. and shalt not be construcd as a part
ofthis Agreement.
G. This Agreaftnr shall be binding upon and shall inue to thc bcncfit ofthe panies hcrrro, ard lheir
respecrive heirs. executors. personar rcprcs€ntarivcs. succcssors 8rd assigns. jrovided. howcvcr. that
this Agcement may not be assigncd b) BUYER \rithout the prior cxprcss rrrittcn conscnt of SELI,ER.
\r'hich consml may bc uithhcld for an1. reason whatsoever.
. H. Any and all sotices permincd or requircd to be given hereunder shall be in uriting and shal be
eithcr pe_rsonall) delivcrcd to the p",!,or shall be senr by United Statcs mail. postage prcpaid. registcrcd
or ccrtified mail, Any such notice shall be deemed given and effeclive upon ieceipi or reirsal ofdelivery thercof by the primary party ro whom it is ro be sent.
I. This Agrcemcnt shallbe govcmed in all respects by rhe la\rs ofth€ State ofFlorida.
. J. .This Ageement may be executed in an)- mrmber of counlcrpans. an1,or all oflrhich mal.contain
the siSnatues oflcss $an arl of th€ paaies. and alr ofu.hich shai be conitrucd together as bui a singre
mstnuDent.
K. Possession ofthe Premises shall bc dclivercd ro the BUyER at closing.
L. The \rord "Closing" or \.ords of similar impon as used in this Agrecmc . shall be consrrued tomean -rhc originally fixed time and closing dati specified herein orty aajoumea time anJ Jateprovided for hercin or agrced to in *riting by the panies. or any earlier dare permined herein.
. M. This Agrecment is betwcen SELLER and BUyER and no other pat!. shall, under an\'circunstances. be deemed to br a beneficiarl' of an1' of the ,"*r -J .onJi iJ^'; -u. p..I"-"atiSELLER pursuant to rhis Agreement.
, N. -All of the paflies to this Agreement. haYc panicipated fully in the negotialion and prcparationhereofi.and accordingrv. ftis Agrrcmeor sha, noi be *o" r"r",iy'loir-*i
"g"rn" -1.'onr oi'ir,.panies hereto.
16.C.1.c
Packet Pg. 1076 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 37445840005 (21441 : GAC Land Sales)
o. Neither rhisAgreem€nt nor atry memorandum or evidencc hcrcof shall bc rccorded in any public
rccords by BUYER. lf so rccorded by BUYER. rhis Agrcemenr shall be deemcd ipso facto ianceled
and te.minated. rhe Eamest Money. (including an-'- addirional eamest moncy *.hich may ha'c been paid
ptfsuant to the Agreement). shall thercupon be retained by or paid to SELLER as liquidated damagcs
for such default- and BUYER shsl have no furthcr intercst in thc prcmises. pursuant to this Agrcemint
or otherwis€.
.. I -fu1' prior agreemcnts. rcpresentations- undcntandings or oral statements. including, bul not
limited ro rcndering or rcprcsantalions contained in sales brochures. maps. sketches. ad'enisiig or sales
materials. and oral statements of sales rcprcsentatives. ifnot expresscd in this Agrccment. are *id. hauc
no cffect. and have not been relied upon by BUYER.
IN WTTNESS WHEREOF. the parries have caused rhis Agreemem rc be exccured as of rhe da' and
) ear firsl abo\e wrinen.
AS TO SELLER
DATE:
ATTEST:
Crystal K. Kinzel, Clerk
BY
ui lness slgnalure
6,rNi't g,.!r/*.
(prilt natne)
STATE OF C
COUNTYOF TAIIiIl
SWORN TO and subscribed bcfore me by means of
lada;- of
Notary Public musl check applicable box
(Notrn' Serl)
,srY AJnc i& d frdrd.
idhre! Ergr- 0Zr7Z0Il
Appro\ed as to form and legalit\
\)',1\ia.'., L. Me D,an;el f,r. , ckoit
Michel 6addch. Rer.ocable Liring T
So.qdeh
cal pres€nce or n online notarization this
.20!Lb1'Vichel Saadeh. Such person(s)
arc p€rsonall)' kno$r to me
produced her current driver license
produced idenrificarion.
\otan ublic
Printed Name of Norary $xlA^-,
. Deput,v Clerk
AS TO BUYER
DATE:
Wilness (signatue)
name)
Jennil'er A. Bclpedio. Assisunt Count) Anome]
BOARD OF COLNTY COMMISSIONERS
COI-LIER COLINTY. FLORIDA
Commission Number:
Ml Commission Expircs:
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Packet Pg. 1077 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 37445840005 (21441 : GAC Land Sales)
tolio Numbcr: 3 7,1458:10005
Parccl 13- Phase I
Acrr.Se:4.6:
DEPOSIT RECEIPT
l. thc undersigned. do hercby acknowredge receipt of a toral oI scventcrn Thousand Ninc Hundrcd
Dollars ($17.900.00). on this ,/4 >- day of JAl ,2022.
/-t,
Michael H
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Packet Pg. 1078 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 37445840005 (21441 : GAC Land Sales)
Nt\N\s$-
Vacant Land Appraisal Report
XXXX 10b Ave NE Naples, FL 341 20. (no site address)
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Packet Pg. 1079 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this
appraisal assignment and the reporting requirements ofthis appraisal report form, including
the following definition of market value, statement of assumptions and limiting conditions, and
certiflcations. The appraiser must, at a minimum: (1) perfo.m a complete visual inspection of
the interior and exterior areas ofthe subject property, (2) inspect the neighborhood, (3) inspect
each of the comparable sales from at least the street, (4) research, verify, and analyze data
from reliable public and/or private sources, and (5) report his or her analysis, opinions, and
conclusions in this appraisal report.
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the
property that is the subject of thts appraisal for a mortgage finance transaction.
INTENDEO I,JSER: The intended user ofthis appraisal report is the lender/client.
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a
competitive and open market under all condition's requisite to a fair sale, the buyer and seller,
each acting prudently, knowledgeably and assuming the price is not affected by undue
stimulus. lmplicit in this definition is the consummation of a sale as of a specified date and the
passing oftitle from seller to buyer under conditions whereby: (1) buyer and seller are typically
motivatedj (2) both parties are well informed or well advised, and each acting in what he or she
considers his or her own best interesu (3) a reasonable time is allowed for exposure in the open
marketj (4) payment is made in terms of cash in U. S. dollars or in terms of financial
arranBements comparable thereto; and (5) the price represents the normal consideration for
the propeny sold unaffected by special or creative financing or sales concessions* granted by
anyone associated with the sale.
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Packet Pg. 1080 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
Summary of lmportant Data Conclusions
PropertylD 37445840005
Address No Site Address, l0t'Ave. Naples 34120
Legal ccE Unit lT TR 89 OR 1257 PG 794- 803
Lot Size 5.00 +/- acres (Property Appraiser)
Lot Shape Rectangular shape backed to canat
Lot Utility Buildable, H & B Use Residential
Zoning Estates Zoning, Vacant Land
Owner Collier County Government
Buyer
Client GAC Land Trust
lntended Users Collier County & cAC Land Trust
Current Use Treed Vacant Land
Date of Appraisal 1113012021
Date of Appraisal Repon !ll3il2|21
lnterest Appraised Fee Simple, Market Value
Appraised Value "as is" $180,000
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Packet Pg. 1081 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
The Subject Properly
h?1S.
lcrS
Estates Zoning
Ptrc.l I\b tT4a5Saooog glAddE
'Dld-r,
taur/Addu ([)UJERCi{TY
C'O iIAL PR(rBTY T.III.AGTTEI{T
ltls TAXtAtt TR q SIf 101
Sh.Clt MPIES Str.Zo0.:ilrfr 3alm
tlra. Ft Zp Y112
Irrhlp i..tlt lil Sfthid
4t275
Or, MDt.et
Srp No. S.Gda
Btmt'tcls 35
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m.lr.AE!-o 2to
9|D./Ce.tde llr0oo - GOIOE{ 6Alt EsT UNIT t7
lJr. C.d.a 83 - COU]tnES ll{CUrDll{G M}t-f,Ul.lctptl GOV.
MnbFlEa .C.t dd6
SdFel Odu Tobl
,1.389 a7r9t ll.aStl
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Packet Pg. 1082 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
z+:
2i tNW :
Area Location Map
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;t!BHPuu!.,/ehAvEsE aaln;-;22Ht : i n i a ! 5 L..lbl I Pow.rld R EE I Univ.n4 oa Sodn flai,r Coonu orcolt Esi HERE G.min tNCttEMENT p NGA USGS
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Packet Pg. 1083 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
Area Market Trends
S30OK
s200K
0€c 201E Jun 2019 Dec 2019 Jun 2020 Dec 2OZO Jun ZOZ.I
Sale-to-List Pdce Ratio: 100%
Homes in Golden Gate Estates sold for approximately the asking price on average in October
2021
SellerIr
Golden Gate Estates is a seller'e ma in October 2021, which means that
there are more people looking to buy than there are homes available.e
Median Days on Ma t: 53 Days
lYr 2Yr 3Y1
'125 days
100 dEys
75 days
50 da!,s
D€c 2018 Jun 2019 D€c 2019 Jun 2020 Dec 2020 Jun 2021
on average, homes in Golden cate Estates sell after 53 days on the market. The trend for
median days on market in Golden Gate Estates has gone down since last month, and slightly
down since last year.
Buyer Balanced
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Packet Pg. 1084 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
All of Naples Market Trends
t4,566
+3.962
$
$8r8,203
.422.231.
r,005
47t53L
0.74
179.94r
I2 MONTH AV€RAGE
SALES PRICE
20,000
t6.oo0
t900,ooo
tao0,ooo
$700.oo0
1600,ooo
t500.ooo
3400,ooo
1300.oo0
Cloied 5rl.!I
z,16 2or, 20t8
NrrLidn3l I
21 2015 2016 2017 2018 20t9 2020
I Av.r.g. s.l6 Pn<.
@
r6298
t4r.911
12 MONTH NElV LISTING AND
CLOSED SALES
SUMMARY
2021, ilrYfirory rtood.t l,0OS unir whiL moithr of lpy'y rm.74 monrha-
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Packet Pg. 1085 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
Sales Market Valuation
The subject property consists of 5.0 +/- acres, located on 1oth Ave NE Naples, 34120.
The cunent lots for sale in this market area range in price from $1OO,OOO to $350,000 dollars for various
size acreages.
Comparable closed sales in the market area.
1. 39260840000 5.78ac sold for$167,000 in Oct of 2020.
0000 8th St NE. sold for $29,000 per acre, no adjustments, results in $29,000ac
2. 37 448260006 2.57 ac sold for $90,000 in March ol 2021.
1341 16th ST NE. sold for $35,000 per acre, no adjustments, results in $35,000ac.
3. 37397080007 2.92ac sold for $100,000 in Juty. of 2020.
000 16th Ave NE. sold for $34,250 per acre, add 5% for market time, results in $36,000ac
4. 4057O2OOO02 5.83ac sold for $160,000 in March of 2020.
2330 14th Ave NE. sold for $27,500 per acre, add jOo/o for market time, results in $30,000ac
5. 37397440100 2.35ac sold for $125,000 in October ol ZO2O.
2207 10b Ave NE. sold for $53,191 per acre, add 5% market time, minus 1Qo/o lor size, results in
$50,500ac.
Reconciliation of the market data.
Taking into consideration all of the above adjusted sales market data, the closed sales adjusted average is
considered for the subject property, the result is $36,100 rounded to $36,000 per acre.
The subject property is 5.Oac +/-, the per acre unit value in this market area is g36,000ac
5.0ac x $36,000 is $180,000 dollars..
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Packet Pg. 1086 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
Subject Property and Comparable sales pictures
Subject property
IL
fl"r
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Packet Pg. 1087 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
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Packet Pg. 1088 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
Comp 4
Comp 5
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Packet Pg. 1089 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
cost and income approaches to value but did not develop them, unless otherwise indicated in this
re po rt.
5. I researched, verified, analyzed, and reported on any current aBreement for sale for the subject
property, any offering for sale ofthe subject property in the twelve months prior to the effective date of
this appraisal, and the prior sales of the subject property for a minimum of three years prior to the
effective date of this appraisal, unless otherwise indicated in this report.
5. I researched, verified, analyzed, and reported on the prior sales ofthe comparable sales for a
minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this
re po rt.
7. I have not knowingly withheld any significant information from this appraisal report and, to the best
of my knowledge, all statements and information in this appraisal report are true and correct. 16. I
stated in this appraisal report my own personal, unbiased, and professionalanalysis, opinions, and
conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
8. I have no present or prospective interest in the property that is the subject of this report, and I have
no present or prospective personal interest or bias with respect to the participants in the transaction. I
did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal
report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or nationalorigin of
either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by
law.
9. My employment and/or compensation for performing this appraisal or any future or anticipated
appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would
report (or present analysis supporting) a predetermined specific value, a predetermined minimum value,
a ranBe or direction in value, a value that favors the cause of any party, or the attainment of a specific
result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
10. I personally prepared all conclusions and opinions about the realestate that were set forth in this
appraisal report. lf I relied on significant real property appraisal assistance from any individualor
individuals in the performance of this appraisal or the preparation of this appraisal report, I have named
such individual(s) and disclosed the specific tasks performed in this appraisal report. tcertify that any
individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and lwill
take no responsibility for it.
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Packet Pg. 1090 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraise/s certification in this report
is subject to the following assumptions and limiting conditions:
L. The appraiser will not be responsible for matters of a legal nature that affect either the property
being appraised or the title to it, except for information that he or she became aware of during
the research involved in performing this appraisal. The appraiser assumes that the title is good
and marketable and will not render any opinions about the title.
2. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs,
deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the
inspection of the subject property or that he or she beca me aware of d uring the research
involved in performing this appraisal. Unless otherwise stated in this appraisalreport, the
appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse
conditions of the property (such as, but not limited to, needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that
would make the property less valuable, and has assumed that there are no such conditions and
makes no guarantees or warranties, express or implied. The appraiser will not be responsible for
any such conditions that do exist or for any engineering or testing that might be required to
discover whether such conditions exist. Because the appraiser is not an expert in the field of
environmental hazards, this appraisal report must not be considered as an environmental
assessment of the property.
APPRAISER'S CERTIFICATION:
The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal
in accordance with the scope of work requirements stated in this appraisal report.
2' I performed a complete visual inspection of the interior a nd exterior areas of the subject property. I
reported the condition of the improvements in factual, specific terms. I identified and reported the
physical deficiencies that could affect the livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the uniform standards of
Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of
The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report
based on the sales comparison approach to value. I have adequate comparable market data to develop
a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the
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Packet Pg. 1091 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
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Packet Pg. 1092 Attachment: Appraisal 37445840005 dated 11-30-21 (21441 : GAC Land Sales)
Folio Numbcr: 4074932000 I
Phase Il. P&cel 45
Acreage: l-17 -/-
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REAL ESTATE SALES AGREEMENT
Sales Agreement ll
THIS AGREEMI-.NT made aad entercd into disDuida). of ^-onu. rL.J 1022. br
and berween coLLIER couNTy. a polirical suMivision 6r-rhe sraie ofEidrllfriliEflcr refe.r.a ro
as SELLER. and Michel Saadeh Revocabre Living Trusr. herEinafter refened to as BUyER. uhose
mailing address is 434 Terracina Coun- Naples. i lorida j4l 19.
\l'IIEREAS, SELLER &sires ro sell. and BUyER desircs to purchase. lhe propen]. hercinafter
dcscribed. ar thc price and on the terms ard conditions hcreinaffcr set forth.
NOW. THEREFORE. in consideration of rhe recitals. the mutual corenants hercinafter set
fonh and other good and valuable considerations. the receipt and sufliciency of which are hereby
mutually acknowledged, ir is agreei by and betr,r.een the panies as follo*.s:
I. PREMISES
The real prop€ny. which is the subject of this AgrEcment. (hcrcinaficr rel.ened to as
"Prcmises") is legally described as:
Tb. Erlt 75 Fcet of Thc Erlt 150 Fect of Trrca I16, coldcB Grtc E!trtc!, Uair No. 7t, rccordiog
to thc plrt thcr.of, r! rccorded io PIrt Book 5, rt prge 16. ofthc public Rccords ofCollicr Coon6]
Floride.
2. SALE and CONVEYANCE
A. SELLER agrces to sell and convey the Premises to BLIIER. and BUYER agrees to purchase the
Premises fiom SELLER. at thc price and upon the other terms a',d conditions hereinafter r"ilbnh,
l. All of SELLER's right. title and inerest in and ro the premises.
3. TITLE
A. Title to the PREMISES shall be convel.ed to BUYER b) Stalutory Deed.
4. PURC}IASE PRICE
The Purchase Price ("Purchase Price") for the Premiscs shall be Thin).Nine Thousand Dollars and
No Cents ($39.000.00), payable by BUYER to SELt.ER as lb o\.!s:
A. Coucurrcntly. with the execution hereof. BLIyER shall pay to SELLER. as eamest monev
hereunder ("Eamest Mone).") fic sum of Three Thousand Eight Hundred Dollars and No Cents
($3.800.00), \r'hich reprcscnts the balance of the rer percent (lb%) of thc puchas€ price. BUYER
prcviously provided One Hundred Dotlars and No Cents (gl0O.O0) ro SELLER and this is crcdit is
rcflected in the Eamest Monday no$. due.
B. The balance. after credit for lhe Eamest Moncy. and plus or minus an). l'unhcr prorations and
adjustments. shall bc paid by BUYER to SELLER ar closing.
5. APPRAISAL
The BUYER firnher scknowledges that an). appraisal fees and,/or update fees for the above-described
Prcmises shall be rhe sole and complete responsibilirl ofBUYER. BUYER has paid the Appnisal fee in
the amount of Three Hundred Fift.v ($350.00) Dollars previousll.
6. RIGHT OF FIRST REFLISAI
Thc BUYER ackno*ledges that he has be.en advised of thc right of fim refusal to purchase rhe
Premises on the same tcrms as contained in this Agrc{ment by Avatar propenies Inc. If Avatar
exerciscs its rights undcr this parsgraph. BUYER shall rcceive r full rcfund of their Eamest Moner..
Avata! Properlies Inc. will be responsible for payment ofthe appraisal fees and,,or updde fees if it clecis
to exercise its right to purchase.
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Packet Pg. 1093 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 40749320001 (21441 : GAC Land Sales)
7. DISCLAIMER OF WARRANTTF:S: "AS IS" CoNvEYANCE
A. BLIYER uarranrs and ackno*ledges to and age€s with SELLER that BUyER is purchasing the
Premises in an "As Is" condition and specificarl and expressry uithout anl r,r.arranties. reprcsentaiions
or guarantccs, eithcr cxpress or implied. of any kind. nature. or typc whatsoivcr from or on behalfof theSELLER. The BLTYER acknowledges and agrees that BUyEir. in cntering into this Agrecmenr andpurchasing thc subjccr propert!.. is not relyin8 on an). reprcs€ntations madc iy SELLER regarding thecondition or fulure developbiliq.of the propcny.
B. BUYER acknowledges that BUYER has made and/or has becn given an adequate opponunity tomate such lcgal. facrual and othcr inquiries and investigarions as BUyER deems necessan.. desirabrc or
appropriate uith respect lo the PEmis€s.
. C. Withour in any \r,ay limiting rhc preccding paragaphs. BUYER achowledges and agrees thal hc
IT-.91_Idt:t releases and discha.ges anv claim thaahe has. mighr have had. or ma1 havi against rhcSELLER lith respect to the condition ofthe prcmises.
8, PRORA ONS AND ADJIIS TMI-,NI'S
9. D[fA LT: TERMIN ATION
-A. The following items shall be prorated and adjuned betueer sEr.r.ER and Bt,yER as ofmidnighr
ofthe day preccding closing:
-1. All installmems ofspecial asscssmcots pa)able aner the closing. *,hether for rork commcnced
as ofthe closing or other*.ise, shall be paid cxclusively by BUyER.
2. All other items required by any other prolision ofthis Agrccment to bc prorated or a justed.
B. At the closing' rhe amount of prorsrion and adjustmcnts as atbresaid shall be determined or
estimared ro the extent practicablc and the monetary adjustmcnt shall be made betwe€n SELLER andBUYER. All such prorations and adju$ments shall be final.
_C. BUYER hercby agrees to indemnifu and hold harmless SELLER from and against cach obligarionofsEl,LER for $hicll and ro rhe exrent that, credir has been given to BUyER at rhe time ofclosirig.
A. If BUYER defaulrs hereundcr. thcn provided SELLER is nor in default. SE[_LER,s sole rcmedy
shall be ro terminate lhis Agrecmcnt b;- giving Wrinen Notice thercof to Bt.'yER. u.hcrcupon thc
F:t] Yo.:r.' shall be retained by or paid lo SELLER as liquidated damages which shall be
SELLER'S sole and exclusive remedy. and neither pan' shalt have any further liabilit! or obligation ro
rhe_other. Thc panies ackno\r'ledge and agree that SELLER.S actual damages in the e'enl ofBUYER'S
defauh arc uncenain in amounr and difficulr to arcrtain and tha said amounr of liquidared damages.las reasonabll determincd by mutusl agrccment bet\r'een lhe panies and said sum uas not intendcd-ro
bc a penalty in nature.
B. lf SELLER defaults hereunder and such dcfault has nor becn curcd within thirt) (30) ds).s afterwritten Norice of such defauh to SELLER. and provided BUyER is not in defauit. BUyE'R mavteminate this Agreement. whereupon thc Eamest Money shal be pnrmptly retumed io BtJyER and
neither pa4'shall have anv funher riabirig' or obrigation to the othe;. Not*irhstanaing an. irrrng
contained in rhis Agreement to the contran. the rbregoing shall b€ BUyER's sole and exclusir.e remedi
and shall preclude BUYER 6om the exercisc ofanv othei remedy
IO. EXPENSES
Any and all costs and expenses incurrcd by SELLER in conncction $ith this transaclion(excepling-SEllER's anomeys' fccs and Real Estare commissions). including. without limitation.
recording. fees. conveyance fees. appraisal fees and_/or update fees. settlement fcis. closing cosls. andtransfer. documentarY and intangible ta\es ofevery nature and kind whatsoever. shall be boire and paid
by BUYER.
I I. INTERVEDIARIES
_ _l.-_Aly and all brokeragc commissions or fees shall be thc sole responsibilir,,- of rhe BUYER.
BUYER shall indcmni$ SELLER and hold SELLER harmless fiom and aiainst an. claim or liabilit.
fo-r__commission or fees ro any broker or any other person or parq,claimin! to have been engaged b!,BUYER as a real esrate broker, saresmaa or rcprescntatirri. in
"onncciion with this Ag-rimeni,including cosrs and rcasonable attomeys' fecs incident thereto.
@
16.C.1.e
Packet Pg. 1094 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 40749320001 (21441 : GAC Land Sales)
B. This provision shall survive closing.
1], CI-OSNG
l. This Agreement shall be govemed in all respects by the laws ofthc State ofFlorida.
- Closing shall take place during normal business hours at the County Anomey's C)lficc. Colliercounty counhouse.330l East Tamiami .trail. Napres, Florida. 34112 or such other location as
SELLER ma) s€lect. r ithin 120 d6).s ofihe appraisal dare.
I3, GENERAL PROVISIONS
A. .rhis uritten Agreement. includinS all e\hibits atuched hereto and documents to be delitered
pursuant hereto. shall constitute the entire agreement and und€Nlanding of the panics. and therc are no
othet prior or contemporaneous \r''inen or oral agreemcnts. undenakings. promises. warranties or
covenants not contained herein.
B. This Agreeme rna) be amended onll by a *rinen memorandum subs€quently executed by all of
the panies hqeto.
C. No lraiver of anv provision or condition of rhis Agreement bl any party shall be valid unless in
writing signed bl such parq'. No such *aivcr shall be u.ken as a wairer of anv other or similar
provision or ofany future event. act or default.
D. Time is ofthe esscnce ofthis Agrccmcnt. In rhe compuration ofanl period of time pro\idcd for
in rhis Agreemem or b1 law, anl dare falling on a Sarurdal, Sunday, or legal holidal, shall be deemed to
rcfcr to the next day which is not a Saturday. Sunday or legal holiday.
E. In ihe event that anl provision ofrhis Agreement shall be unenforceable in whole or in pan. srrch
provision shall be limited to the extcnt ncccssaD to render the same valid. or shall be exciscd from this
Agreement. as circumstances require. and this Agreement shall bc construed as if said provision had
bccn incorporated herein as so limited. or as ifsaid provision had not bcen included hercin. as rhe casc
may be.
_F.. Headings of paragmphs are for convenience of reference only. and shall not be construed as a pan
ofthis A$eement.
G. This Agrcement shall be binding upon and shall inue ro (he bcnefit of the paflies hercto. and their
rcspectire heirs. executors. personal rcprescntatives. successors and assigns. provided. hor.rever. that
this Agreemant may not be assigned by BUYER withour the prior exprcss wrincn consenr ofSELI_ER.
which conscnt may be withheld for any reason whalsoerer.
H. An) and all notices permitted or required ro be given hercunder shall be in \.titing and shall be
either personally dclivered to $e party or shall be seot by United Shres mail. postaSe prcpaid. registered
or cenified mail. An!' such notice shall be deemed giren and eflectire upon receipt or refusal of
deliveq thereofb] the priman paq to \,\ hom it is to be sent.
J. This Agrcement ma1' be execucd in an1. number of counlerpads. anl. or all of \r.hich ma]. contain
thc signatures of lcss than all ofthe paflics. and all of*hich shall bc construed rogether as bui a single
instrument.
K. Possession of thc Prcmisfs shall b€ delivcrcd to the BUyER at closing.
L. The word "Closing" or $,ords of similar impon as uscd in this Agrcement. shall be constued to
mean rhe originally fixed time and crosing date specilied herein or any adjourned time and dateprolided for herein or agreed lo in \ riting bl the panies. or anv earlier dare permincd herein.
M. This Agrccment is between SELLER and BUyER and no other pan-y shall. under an1.
circumstances. be deemed to be a bencficia4' of any of the terms and conditions io be performed b1.,
SELLER punuant lo lhis Agreement.
. N. .All of the panies to rhis Agreemenr have panicipated fulry in the negotiation and prepararion
hereol':. and. accordingly. this Agreemenr shalr not be morc striciry construe; agsinst an;.,
-ooi
of the
panies hereto.
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16.C.1.e
Packet Pg. 1095 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 40749320001 (21441 : GAC Land Sales)
O .Ncithcr rh-isAgreemcnt nor any memorandum or evidence hereof shsll be recorded in any public
records b1 BUYER. Il so rccordcd by BUYER. rhis Agrcemenr shall bc deemed ipso facro canceled
and terminated. the Eamest Mone). (including an1 additional eamest mone! \ .hich ma] ha'e been paid
pursuant to lhe Agr€ement), shall thereupon be.etained b1 or paid ro SELLER as liquidated damagesfor such default. and BLIYER shall have no lirrther intnesr in the prcmises. pursua.r t; this Agrcem;ntor other*ise.
.. I .fuy prior agreements, rcprcs.ntations. understandings or oral statcments. including. but notlimitedlo rcndering or reprcscntarions contained in sales brochures. maps. sketches. advenisi;g or sales
materials. and oral statements ofsales rcpresentaii'es. ifnot expressed in rhis Agreement. are riid. ha'e
no elTect. and have not bcen rclied upon by BUYER.
IN-WITNESS UTIEREOF. rhe panies have caused this Agrecment to be executcd as of the da1., andyear first above $Tinen.
AS TO SELLER
DATE:
A'I-TEST:
Crystal K. Kinzel. Clcrk
pnnt name)
(print name)
STATE OF FI
couNTY Or r rural
S$'OR\ TO and subscribcd before me
f,41day of \Muar1
Notan'Public must check applicable box
BOARD OF COUNTY COMMISSIONERS
COt-LIER COLNTY. FLORIDA
BY
\l'iiliam t-. llcDaniel. Jr.. Chair
\liche Sdadr.able Liring
-SoaJ€]"
by means of B{ffsical prcscnce or ! online norarization rhis
2021" by Michel Saadeh. Such person(s):
. Dcputl Clerk
AS TO BUYER
DATE:
are personally kno*n to me.
produccd her current driter license
ptoduced
\otam blic
as idenrillcation.
Approved as ro form and legalitl
Printed N-ame of Notar,
Commission Number:
Sfn l!{ .$z$-rftA'pbbE62.
M1 Commission [ixpires ,-l 11 I
r6t P'I... gr. d FI D
Comf,g ilo @IAia
C@uE r.lllltn2J
Jenni Belpedio Counry Attomel,e\a s\a
e
6-,.n^ nl ,,lo,^io -
Vitness (signatrire/
Sa" rAA-
(Notrrr Se.l)
5A4urs5l-=-.-wrhess (st8nature)
/?\a_/
16.C.1.e
Packet Pg. 1096 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 40749320001 (21441 : GAC Land Sales)
Folio Number: 407 4932000 I
Phase ll. Parcel 45
Acreage: 1.17 +/-
Dt:POSIl' RI]CEIPT
I- the undersigned. do hereby acknou'l edge rcceipt ofa total ofl'hrce Thousand Eighl Ilundred Dollars
($3.800.00). on this , , - da).of . ?0t2J)-
Itichael H.
(,
16.C.1.e
Packet Pg. 1097 Attachment: Real Estate Sales Agreement-Michel Saadeh, ID# 40749320001 (21441 : GAC Land Sales)
,[L\N\S$
Vacant Land Appraisal Report
)fi)(x Golden Gate Blvd E, FL 34120. (no site address)
16.C.1.f
Packet Pg. 1098 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this
appraisal assignment and the reporting requtrements ofthis appraisalreportform, including
the following definition of market value, statement of assumptions and limiting conditions, and
certifications. The appraiser must, at a minimum: (1) perform a complete visual rnspection of
the interior and exterior areas ofthe subject property, (2) inspect the neighborhood, (3) inspect
each ofthe comparable sales from at least the street, (4) research, verify, and analyze data
from reliable public and/or private sources, and (5) report his or her analysis, opinions, and
conclusions in this appraisal report
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the
property that is the subject of th is appraisal for a mortgage finance transaction
INTENDED USER: The intended user ofthis appraisal report is the lender/client.
DEFINITION OF MARKET VAIUE: The most probable price which a property should bring in a
competitive and open market under all condition's requisite to a fair sale, the buyer and seller,
each acting prudently, knowledgeably and assuming the price is not affected by undue
stimulus. lmplicit in this definition is the consummation of a sale as of a specified date and the
passing oftitle from seller to buyer underconditions whereby: (1)buyer and seller are typically
motivatedj (2) both parties are well informed or well advised, and each acting in what he or she
considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open
marketj (4) payment is made in terms of cash in U. S. dollars or in terms of financial
arranBements comparable thereto; and (5)the price represents the normal consideration for
the property sold unaffected by special or creative financing or sales concessions+ granted by
anyone associated with the sale.
16.C.1.f
Packet Pg. 1099 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
Summary of lmportant Data Conclusions
Property lD 40749320001
Address No Site Address, Golden cate Blvd E. Naples 34t20
Legal GGE Unit 78 E 75ft of W 180ft + E75ft ofTR 116
The legal is temp only, lot will be split into two 1.,t 7ac lots
Lot Size 2.34 +/- acres (Property Appraiser before the split)
Lot Shape Rectangular shape
Lot Utility Buildable, H & B Use Residential if allowed
Zoning Estates Zoning, Vacant Land
Owner Collier County Government
Buyer
Client GAC Land Trust
lntended Users Collier County & GAC Land Trust
Current Use Treed Vacant Land
Date of Appraisal 1210212021
Date of Appraissl Reporl 'l2lo2l2o21
lnterest Appraised Fee Simple, Market Value
Appraised Value "as is" $39,000
16.C.1.f
Packet Pg. 1100 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
The Subject Property
P.rc.l No ,lo7/l9l200o l
Itl./ lddrG COUrm C|ITY
C/O REAI PiOPEiTV I'AI{A6E EI{T
lltS TAl ,a t TR e sIE 101
City NAPLES
M.p Nc.
4lr(x
Skrp No,
!4,0000 I15 ,*Xl,l 1 19
L.grl GOTOEN GATE EST UNrT ,8 E75FT OF WI UrFT + ETSFT OF TR 115
Futur. l..nd Ur (rtu)
Zp ,1112
lnlg. lo.. :ElErfd
2A 2.y
Sit Addr6t
'Dird.im.r 9rt Cfty NAruS
Itt Ft
S.<doi Townrhlp
Sit Zonc
'l{ot
l,lbrrr-io|l
tI,T,P.
DEiFadt
ES
Estrt!. DGing.don
IEf
cfl! .> EX
16.C.1.f
Packet Pg. 1101 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
,._a Haa GJF Ll[d E
Area Location Map
+
CrHen fule Blri E
16.C.1.f
Packet Pg. 1102 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
All of Naples Market Trends
14,566
03.96U
r6:98
t4t.9rl
$
3818,203
122.237.
1,005
a7t.53Z
o.71
479.947.
12 MONTH NEW
CLOSED
LISII NG AND
SALES
12 MONTH AVERAGE
SALES PRIC E
20,o00
r6,000
r2,oo0
8,OO0
4,OOO
0
t900,oo0
l8OO,OO0
3700,ooo
i600,ooo
3500,ooo
1400,000
t300,ooo,
I
, 20la 20D 2020
I Oot d $br
2015 2015 2017 201a 2019 2020
I A"...t s"ro P,i<.
SUMMARY
Wth 16,298 Fop.rli6 told, rrlcr rrr up 41.917 orr thc prcccdiag l2-month p..in whn llr85 Fogrrtier virc roU. Nr* lirtirgr
wrn down 3.961. from 15,167to 14,566.Illr *engo ula pricr wo up 22.23?, Fom i569.400 ro tBl82O3.Ar of O<rober 3l,
2021, inv.itory 3tood.t l,OO5uniti whiL hooth: of rpply war -74 monrhr.
16.C.1.f
Packet Pg. 1103 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
Area Market Trends
s300K
s200K
oec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020 Jun 2021
Sale-to-List Price Ratio: 100%
Homes in Golden Gate Estates sold for ap ximately the asking price on average in October
2021 .
Balanced Ir
Golden cate Estates is a sellerb ma in October 2021, which means that
there are more people looking to buy than there are homes available.lt
Median Days on Market: 53 Days
lYr zYt 3Yr
125 days
100 da),s
75 days
50 days
oec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020 Jun 202t
On average, homes in Golden Gate Estates sell after 53 days on the market. The trend for
median days on market in Golden Gate Estates has gone down since last month, and slightly
down since last year.
Buyer Seller
:
16.C.1.f
Packet Pg. 1104 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
Sales Market Valuation
Comparable Market Data
independentlv.
First we will look at sold 'l .14 acre lots in this market area.
1. 40747560009 1.14ac soldfor$33,800inMarch ot2021 .
2. 407513200022.27ac sold for $40,000 in June of 2021.
3. 40744080003 1.14ac sold for $42,500 in February of2021.
The average price per lot is $38,766 or say 939,000 per lot. The subject property consists of two
buildable lots 1 .1 7ac each, however there is no cost with splitting the lots, therefore the $39,000
will not be adjusted.
Next we will look at sold 2.34 acre lots in this market area.
1. 40752280002 2.81ac soldfor$70,000inMarch ol 2021.
2. 40526920103 2.50ac sold for $99,000 in Jan ol 2021.
3. 40688440000 2.27ac sold for $65,000 in July of2021.
The average price for a 2.34ac lol is $78,000. The subject property consists of two buildable lots
1.17ac each, however the lots are combined totaling 2.34ac therefore the value of $39,000 for
the subject property is substantiated by the value of the 2.34ac lots being $78,000.
The subject property is valued at $39,000 for the I .17ac lot..
16.C.1.f
Packet Pg. 1105 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
Subject Property and Comparable sales pictures
Subject property
16.C.1.f
Packet Pg. 1106 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
Comp 2
Comp 3
16.C.1.f
Packet Pg. 1107 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraise/s certification in this report
is subject to the following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property
being appraised or the title to it, except for information that he or she became aware of during
the research involved in performing this appraisal. The appraiser assumes that the title is good
and marketable and will not render any opinions about the title.
2. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs,
deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the
inspection of the subject property or that he or she became aware of during the research
involved in performing this appraisal. Unless otherwise stated in this appraisal report, the
appraiser has no knowledge of any hidden or unapparent physical deflciencies or adverse
conditions of the property (such as, but not limited to, needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that
would make the property less valuable, and has assumed that there are no such conditions and
makes no guarantees or warranties, express or implied. The appraiser will not be responsible for
any such conditions that do exist or for any engineering or testing that might be required to
discover whether such conditions exist. Because the appraiser is not an expert in the field of
environmental hazards, this appraisalreport must not be considered as an environmental
assessment of the property.
APPRAISER'S CERTIFICATION:
The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal
in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a complete visua I inspection of the interior a nd exterior areas of the subject property. I
reported the condition of the improvements in factual, specific terms. I identified and reported the
physical deficiencies that could affect the livability, soundness, or structural integrity of the property.
3. I performed this appraisal In accordance with the requirements of the Uniform Standards of
ProfessionalAppraisal Practice that were adopted and promulgated by the Appraisal Standards Board of
The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report
based on the sales comparison approach to value. I have adequate comparable market data to develop
a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the
cost and income approaches to value but did not develop them, unless otherwise indicated in this
re po rt.
16.C.1.f
Packet Pg. 1108 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject
property, any offering for sale of the subject property in the twelve months prior to the effective date of
this appraisal, and the prior sales of the subject property for a minimum of three years prior to the
effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a
minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this
report.
7. I have not knowingly withheld any significant information from this appraisal report and, to the best
of my knowledge, all statements and information in this appraisal report are true and correct. 15. I
stated in this appraisal report my own personal, unbiased, and professlonal analysis, opinions, and
conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
8. I have no present or prospective interest in the property that is the subject of this report, and I have
no present or prospective personal interest or bias with respect to the participants in the transaction. I
did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal
report on the race, color, religion, sex, age, marital status, handicap, familial status, or nationalorigin of
either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by
law.
9, My employment and/or compensation for performing this appraisal or any future or anticipated
appraisals was not conditioned on any agreement or understanding, written or otherwise, that lwould
report (or present analysis supporting) a predetermined specific value, a predetermined minimum value,
a range or direction in value, a value that favors the cause of any party, or the attainment of a specific
result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
10. I personally prepared all conclusions and opinions about the realestate that were set forth in this
appraisal report. lf I relied on significant real property appraisal assistance from any individual or
indlviduals in the performance of this appraisalorthe preparation of this appraisal report, I have named
such individual(s) and disclosed the specific tasks performed in this appraisal report. lcertitr/ that any
individualso named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and lwill
take no responsibility for it.
16.C.1.f
Packet Pg. 1109 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
Ron DeSantis, Governor
Halsey Beshears, Secretary
STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Do not alter this document in any form.
This is your license' lt is unlawful for anyone other than the licensee to use this document.
EXpt RATtoN DATei', r.tovEr.,|Een 30, 2d.
Always verify licenses onrine at MyFroridaLicense.com
16.C.1.f
Packet Pg. 1110 Attachment: Appraisal 40749320001 dated 12-2-21 (21441 : GAC Land Sales)
Valuation Analysis Update 3117 12022
The parcels that are proposed to be sold are as follows:
Folio Number: 41824360008 - Teak Wood Drive - 3.92 acres
Appraised Value: $455,000.00, Appraisal dated: November 12,2021.
The market research and analysis indicated an estimated value of $461,000 an increase
of 1 .3o/o
Folio Number: 37445840005 - 1Oth Avenue NE - 4.62 acres
Appraised Value: $180,000.00, Appraisal dated: November 30,2021
The market research and analysis indicated an estimated value of 9183,000 an increase
of 1 .60/o
Folio Number: 40749320001 - Golden Gate Boulevard East - 1 .1 7 acres
Appraised Value: $39,000, Appraisal dated: December 2,2021.
The market research and analysis indicated an estimated value of $39,400 for the lot, this
is considered no change.
16.C.1.g
Packet Pg. 1111 Attachment: Valuation Analysis Update 3-17-22 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1112 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1113 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1114 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1115 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1116 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1117 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1118 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1119 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1120 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1121 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1122 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1123 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1124 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.h
Packet Pg. 1125 Attachment: GAC 1983 Agreement 1983 (21441 : GAC Land Sales)
16.C.1.i
Packet Pg. 1126 Attachment: GAC 1983 Agreement Amendment - 4-24-90 (21441 : GAC Land Sales)
16.C.1.i
Packet Pg. 1127 Attachment: GAC 1983 Agreement Amendment - 4-24-90 (21441 : GAC Land Sales)
16.C.1.j
Packet Pg. 1128 Attachment: GAC 1983 Agreement Amendment - 5-22-89 (21441 : GAC Land Sales)
16.C.1.j
Packet Pg. 1129 Attachment: GAC 1983 Agreement Amendment - 5-22-89 (21441 : GAC Land Sales)
16.C.1.j
Packet Pg. 1130 Attachment: GAC 1983 Agreement Amendment - 5-22-89 (21441 : GAC Land Sales)
[16-RPR-02814/1246212/1]
September 27, 2016
Item 11 A
EXECUTIVE SUMMARY
Recommendation to consider a request to release a parcel of land from the GAC Future Land Sales List
to allow the adjacent property owner to purchase the parcel pursuant to the terms of the 1983 GAC Land
Trust Agreement.
OBJECTIVE: To consider the release of a parcel of land currently on the GAC Future Land Sales list.
CONSIDERATION: On March 26, 2013, agenda item 16E1, the Board approved a recommendation from the
GAC Land Trust Committee (‘Committee’) to reserve from sale a list of properties during the economic
downturn until such time as they could yield higher revenue for the Golden Gate Estates Land Trust (‘Trust’),
which was established to benefit the residents of Golden Gate Estates. This methodology is consistent with
the1983 Agreement.
At their January 25, 2016 meeting, the Committee heard a request from a property owner living adjacent to one
of the GAC Land Trust properties asking to purchase a 1.14 acre, non-buildable, vacant parcel, which is located
on 40th Avenue SE, and further described as Golden Gate Estate Unit 93, the East 75 feet of the West 180 Feet
of Tract 48 (Property); an exhibit is attached for reference. The Committee voted 5-0 to deny the request stating
that if the property were retained, it could potentially generate more revenue at a later time.
At that same meeting, it was discussed that all remaining properties to be sold should be sold at 100% of the
appraised value. The 1983 Agreement states, ‘the contemplated conveyance may be consummated only if the
sales price is ninety percent or more of the appraisal fair market value.’ Though the Committee suggested that
this condition of the Agreement be revised and approved by the Board, the 1983 Agreement provides for the
properties to be sold at 90% or more of the appraised value. In staff’s discussions with Avatar, it has been
agreed to the properties being sold at 100% of the appraised value. This provision will also be included in the
Reverter Discharge and Release form that is provided to Avatar for this transaction.
Pursuant to the Collier County Land Development Code (LDC), a lot of record created after October 14, 1974,
which results when a lot is split from the parent tract creating a parcel less than 2.25 acres, would be designated
‘non-conforming’ or ‘non-buildable.’ The Property in question was split from the parent track in1980 therefore
becoming a non-buildable lot.
The Collier County Property Appraiser’s database currently shows the land value for the Property as $8,835 for
2016. However, staff conducted an in-house appraisal review and confirms that the current value of the Property
is $8,000. The difference in the Property Appraiser’s value and the in-house appraisal is that the Property
Appraiser does not take into consideration if a properly is designated buildable and non-buildable when those
value are established.
Pursuant to the 1983 Agreement, an appraisal is required to be performed by a Member of the Appraisal
Institute (M.A.I.), and shall be paid for by the Purchaser. The County’s in-house Appraiser has prepared an
appraisal for this property, at the request of management, and Avatar has no objection to allow the County-
prepared appraisal. This provision will also be included in the Reverter Discharge and Release to Avatar.
Having evaluated the request, Staff believes that a sale at 100% of the appraised value is in the best interest of
the County and the residents of Golden Gate Estates.
FISCAL IMPACT: If the Board approves the sale of the parcel, the sale proceeds will be deposited into Fund
605.
GROWTH MANAGEMENT: There is no Growth Management Impacts associated with this Executive
Summary.
16.C.1.k
Packet Pg. 1131 Attachment: MD - Executive Summary GAC Appraisal Waiver and Value (21441 : GAC Land Sales)
[16-RPR-02814/1246212/1]
LEGAL CONSIDERATIONS: This item is approved for form and legality and requires a majority vote for
Board action. – JAB
RECOMMENDATION: That the Board of County Commissioners releases the East 75 feet of the West 180
feet of Tract 48, Unit 93, Golden Gate Estates, from the GAC Future Land Sales List, waives the requirement
for an appraisal by an MAI, and authorizes staff to negotiate a sale of the Property for one hundred percent of
the staff conducted appraised value. If approved, a Sale Agreement will be brought to the Board at a later date.
PREPARED BY: Michael Dowling, Senior Property Management Specialist
Division of Facilities Management
16.C.1.k
Packet Pg. 1132 Attachment: MD - Executive Summary GAC Appraisal Waiver and Value (21441 : GAC Land Sales)
16.C.1.l
Packet Pg. 1133 Attachment: Blanket Reverter Discharge and Release (21441 : GAC Land Sales)
16.C.1.l
Packet Pg. 1134 Attachment: Blanket Reverter Discharge and Release (21441 : GAC Land Sales)
16.C.1.l
Packet Pg. 1135 Attachment: Blanket Reverter Discharge and Release (21441 : GAC Land Sales)