Backup Documents 05/27/2025 Item #11C PresentationItem #11.C.
Fair Board Letter of Interest
May 27, 2025
Location & Surrounding Communities
Aerial Map
Background:
•March 9, 2021 –the Board approved the purchase of 1,046.19 acres, referred
to as the Camp Keais property.
•Potential Property Uses included:
•Fairgrounds
•Parks & Recreation
•Hurricane debris management
•Horticultural processing
•Workforce housing
Background:
•May 17, 2024 –The Fair Board submitted its initial letter of interest.
•January 24, 2025 –Supplemental letter of interest was received.
•To purchase 100+ developable acres with direct access to Oil Well Road.
•The tentative list of uses, compared to the current County arrangement,
remains mostly the same, with the addition of:
•The ability to host community events, such as concerts, arts and craft
shows, 4H events, gun and boat shows.
•Passive recreational facilities like parks, playgrounds, hiking, biking, and
nature trails.
Background:
•August 27, 2024 –the Board heard a proposal from Barron Collier Companies
asking to exchange 439 +/-acres at the Camp Keais property (generally on
the east side of the County property) for an equal value of property at Silver
Strand.
•Consistent with the Board's direction, staff is working with Barron Collier
Companies' team on the specifics as it relates to land value and acreage, which
will come back at a subsequent meeting.
Camp Keais & Barron Collier Property
Camp Keais Barron Collier
Parcel
Background:
•The Fair Board is leasing the current fairgrounds from the County under an
agreement that expires in 2037.
•If the Fair Board acquires property at Camp Keais , a lease termination would
be coordinated to provide the Fair with ample time to relocate its operations
and ensure continuity.
•The Fair Board would prefer to own property rather than lease, as ownership
would make it eligible for a wider range of funding opportunities, including
USDA grants and other programs tied to capital investment.
Initial Purchase Price & Current Market Value
•Initial Purchase Price - $13,648,044.40 or $13,045.48 per acre (1,046.19+/-)
after factoring in all costs.
•Recording Fees - $61.00
•Doc Stamps - $94,872.40
•The acquisition was financed, and the County has incurred interest costs since
the purchase.
•Market value - $20,250 per acre
•This is based on the average of the two (2) appraisals (January 8, 2025)
associated with the land swap.
Recommendation:
•Direct the County Manager or designee to move forward with the Fair Board to
develop a purchase and sales agreement to be presented at a future meeting for a
portion of the Camp Keais property
•Provide direction on the price per acre:
•Under Chapter 125.38, Florida Statutes, the County may sell to a nonprofit organization such as the Fair
at a “nominal price,” which can be significantly below market value or any value less than market. This
will require a resolution to accompany the sales agreement to comply with the Statutes.
•Original Purchase Price per acre $13,045.48 (plus incurred interest per acre)
•Current Market Value $20,250 per acre
•If the Board desires to sell at less than market value, staff recommends direction
to include a reverter provision and deed restriction for the property (specific terms
would be brought back with the sales and purchase agreement.