Agenda 05/13/2014 Item # 14B1 5/13/2014 14.B.1.
EXECUTIVE SUMMARY
Recommendation for the Community Redevelopment Agency to approve the sale of
eighteen CRA owned mobile home lots to Love & Legacy LLC, for the construction of
single-family homes; authorize the CRA Chairman to execute all documents necessary to
facilitate the sale and authorize staff to deposit the funds received from the sale into the
appropriate account and authorize necessary budget amendments.
OBJECTIVE: To obtain approval by the Community Redevelopment Agency (Board) to
facilitate the sale of eighteen CRA owned mobile home lots for the construction of new single
family homes.
CONSIDERATIONS: On May 22, 2012, Item 14.B.5,the CRA Board authorized CRA staff to
advertise 23 CRA owned vacant residential lots for sale to the public and bring back any offers
to the CRA Board for review, approval or rejection.
Initially public notice was given for the disposition of five lots. On March 26, 2013, Item 14.B.1,
the CRA Board accepted an offer of$13,500 per lot and the five lots were transferred.
On November 1, 2013, public notice for the disposition of five additional lots was made with a
minimum bid price of $25,000. Four of the lots were zoned mobile home and one was zoned
RMF-6.No offers were received for the mobile home lots. CRA staff obtained appraisals valuing
two of the four mobile home lots at $19,000 from the County's Real Property Management
Section. The appraisals are dated October of 2013 and are included in the backup to this item.
Since no offers were received on the mobile home lots, $25,000 was determined to be more than
what a buyer is willing to pay.
A public notice of disposition was posted in the Naples Daily News for the eighteen lots in
accordance with Section 163.380 Florida Statutes on April 9, 2014. The advertisement set the
minimum bid at $14,000 per lot and required that the property be deed restricted to allow
residential construction but not mobile homes. There were no responses. The proposed
transaction was brought to the CRA by Love & Legacy's real estate agent.
As background, when the CRA purchased the twenty-three lots, the majority of the lots were
improved with mobile homes. In partnership with the Sheriff's Office and Code Enforcement
the CRA targeted known slumlords known to house high crime tenants and offered to purchase
their properties. The purchase and demolition of the mobile homes by the CRA alleviated the
slum, blight and the criminal element. Removal of the improvements on the lots resulted in a
decrease of property value.
The CRA has continually worked with realtors and investors to locate buyers committed to
constructing quality, single family homes on the mobile home lots. Love & Legacy LLC desires
to purchase all the CRA mobile home lots and commit to a very aggressive building time-frame.
The construction of eighteen new homes within this older mobile home development will have a
substantial positive impact on the area. Information regarding the proposed houses to be
1
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constructed, renderings and economic impact from the Buyer is included in the backup.
Information about Love & Legacy LLC is also in the back-up. Staff believes Love & Legacy
LLC has the financial capacity and experience to complete the project.
Proposed Building Time-Frame
Phase One: Building shall commence on first two lots within 30 days of closing.
Phase Two: Building shall commence on next four lots within six months of closing.
Phase Three: Building shall commence on six additional lots within one year of closing.
Phase Four: Building shall commence on remaining six lots within 18 months of
closing.
The Purchase and Sale Agreement require any and all brokerage commission and fees to be paid
by the Seller in the amount of$16,278 resulting in a net price of$14,167 per lot. The estimated
assessed value of each house proposed for construction will be $275,000, which equates to an
increase of$4,950,000 of assessed value to the redevelopment area. Of course, depending on the
level of tax exemption, ultimate taxable value will be less. Currently the properties generate no
tax revenue and the CRA incurs fees to maintain the properties of$8,000 per year. The cost to
purchase the properties was $L184,640.50 (see attached spreadsheet).
In accordance with Florida Statutes the CRA may sell real property at a value determined to be
in the public interest. In detennining the value of real property as being in the public interest the
CRA shall take into account and give consideration to the long-term benefits to be achieved by
the County resulting from incurring short-term losses or costs in the disposal of such real
property. Staff believes the increase of$4,950,000 of assessed value to the redevelopment area is
in the public interest as contemplated by Section 163.380, Florida Statutes justifying the
$913,340.5 loss the CRA is taking on the properties.
All pertinent documents have been reviewed and approved by the Real Property Management
Section and the County Attorney's Office. On March 4, 2014, the CRA Advisory Board voted
unanimously to forward to the CRA Board with a recommendation of approval. The terms of the
conveyance are set forth in the Purchase and Sale Agreement (Agreement) and property shall be
conveyed by Statutory Deed in an "as is" condition inclusive of the following deed restrictions:
1. Property is restricted to residential structures that conform to the design standards of the
Bayshore Mixed Use Overlay District;
2. Mobile homes are not permitted on the site;
3. Construction must commence in accordance with the time-frame set-forth in Exhibit `B"
of the Purchase Agreement. A certification of occupancy must be issued within twenty-
four months of close and settlement or else the parcel shall automatically revert to the
CRA.
The eighteen lots are zoned either BMUD-R3 or MH-BMUD, sub-districts of the Bayshore
Mixed Use Overlay, which permit single family residences. Land Development Code Section
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4.02.16 allows "live-work units" on the lots with a conditional use. Love & Legacy is not be
pursuing a conditional use on any of the lots. Such use may be elected after the property is
transferred from Love & Legacy. As such, the construction schedule will not be affected.
FISCAL IMPACT: The sale will result in a net loss of approximately $913,300 to the CRA.
However, Staff believes there will be an increase of $4,950,000 of assessed value to the
redevelopment area. The cost and expenses to facilitate the sale (closing services, recording fees,
etc.) are available in the approved FY 2014 Bayshore Gateway Triangle CRA Fund (187)
budget. The Purchase and Sale Agreements requires brokerage commission in the amount of
$16,278 to be paid by the CRA. The CRA staff will work with the Finance Department to have
the proceeds transferred to the debt service fund.
The CRA's current useful life extends to 2029. Based upon the original purchase price and
current sale price an immediate loss of$913,300 will be incurred. With a base taxable value
after exemptions of an estimated $4,000,000 and assuming an average increase of 3% in taxable
value for these properties over remaining 15 years of CRA life, not including any further
property improvements, the estimated tax increment revenue based upon current tax rates over
the remaining CRA life totals $326,000.
GROWTH MANAGEMENT IMPACT: Policy 4.7 of the Future Land Use Element of the
Growth Management Plan states that redevelopment plans may be developed for specific areas
within the County, including the Bayshore Gateway Triangle CRA. This property is a part of a
targeted Neighborhood Focus Initiative and this purchase is consistent with the Bayshore
Gateway Triangle Redevelopment Plan.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality and
requires a majority vote for Board approval. -JAB
CRA ADVISORY BOARD RECOMMENDATION: On March 4, 2014, the CRA Advisory
Board voted unanimously to forward to the CRA Board with a recommendation of approval.
RECOMMENDATION: That the Collier County Community Redevelopment Agency:
1. Approve and authorize the Chairman to execute a Purchase and Sale Agreement,
Statutory Deed and any and all other documents necessary to close once approved by the
County Attorney's Office;
2. Authorize staff to deposit funds received from the sale into CRA Fund (187);
3. Authorize staff work with the Finance Department to transfer proceeds from (187)to debt
service fund;
4. Authorize the CRA Interim Director to make payment of all costs and expenses necessary
to close the transaction from the CRA Fund (187).
Prepared by: Jean Jourdan, Interim Director
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COLLIER COUNTY
Board of County Commissioners
Item Number: 14.14.B.14.B.1.
Item Summary: Recommendation for the Community Redevelopment Agency to approve
the sale of eighteen (18) CRA owned mobile home lots to Love & Legacy LLC, for the
construction of single-family homes; authorize the CRA Chairman to execute all documents
necessary to facilitate the sale and authorize staff to deposit the funds received from the sale
into the appropriate account and authorize necessary budget amendments.
Meeting Date: 5/13/2014
Prepared By
Name: JourdanJean
Title: Project Manager, County Redevelopment Agency
4/21/2014 10:28:30 AM
Submitted by
Title: Project Manager, County Redevelopment Agency
Name: JourdanJean
4/21/2014 10:28:31 AM
Approved By
Name: ErbCindy
Title: Property Acquisition Specialist, Senior,Facilities Management
Date: 4/24/2014 2:00:39 PM
Name: BelpedioJennifer
Title: Assistant County Attorney, CAO General Services
Date: 4/30/2014 5:09:51 PM
Name: FinnEd
Title: Management/Budget Analyst, Senior, Transportation Engineering&Construction Management
Date: 5/2/2014 5:57:13 PM
Name: KlatzkowJeff
Title: County Attorney,
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5/13/2014 14.B.1.
Date: 5/7/2014 4:40:45 PM
Name: OchsLeo
Title: County Manager, County Managers Office
Date: 5/7/2014 5:18:28 PM
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BAYSHORE CRA
Folio Numbers:61840280003,81839680009,61839580006,
61839440003,61840320002,29430240000,53352920005,53352880006,
61839120006,53351480009,53351880003,53351800003,53350240004,
29430320001,53350260000,53352200000,53352240002&53352160001
PURCHASE AND SALE AGREEMENT
THIS PURCHASE AGREEMENT (hereinafter referred to as the "Agreement") is made and
entered into by and between COLLIER COUNTY COMMUNITY REDEVELOPMENT AGENCY, its
successors and assigns, whose mailing address is 3299 Tamiami Trail E., Naples, FL 34112
(hereinafter referred to as"Seller"),and LOVE&LEGACY LLC,a Florida limited liability company, its
successors and assigns, whose mailing address is 4947 Tamiami Trail North, Suite 106, Naples,
Florida 34103, (hereinafter referred to as"Purchaser");
WHEREAS, Seller is the owner of those certain parcels of real property(hereinafter collectively
referred to as "Property"), located in Collier County, State of Florida, and being more particularly
described in Exhibit"A",attached hereto and made a part hereof by reference.
Subject to easements, restrictions,and reservations of record.
WHEREAS, Seller desires to convey the Property"as is"to Purchaser for the stated purposes
and Purchaser desires to acquire the Property "as is", on the terms and conditions set forth herein;
and
WHEREAS, Purchaser has agreed to compensate Seller for conveyance of the Property;
NOW THEREFORE, in consideration of these premises, and other good and valuable
consideration, the receipt and sufficiency of which is hereby mutually acknowledged, it is agreed by
and between the parties as follows:
1. Seller shall convey the Property to Purchaser via Statutory Deed for the sum of TWO
HUNDRED SEVENTY ONE THOUSAND THREE HUNDRED and no/100 Dollars ($271,300),
payable by wire transfer (said transaction hereinafter referred to as the "Closing"). Said
payment shall be full compensation for the Property conveyed. This is a cash transaction with
no contingencies for financing.
2. Purchaser shall deliver a deposit of TWENTY SEVEN THOUSAND ONE HUNDRED THIRTY
and no/100 Dollars ($27,130)together with this Agreement signed by Purchaser. The deposit
will be held in escrow by Michael Baviell, Jr., PA., ("Escrow Agent") subject to clearance.
Escrow Agent's address is 800 Seagate Dr.,#204, Naples, FL 34103; Phone: (239)434-6644.
3. The effective date of the Agreement shall be the date the CRA Chairman signs the Agreement
("Effective Date").
4. Seller shall provide Purchaser with a copy of their existing Owner's Title Insurance Policies as
title evidence. Purchaser, at their expense, will be responsible for obtaining their own title
insurance commitment and Owner's Policy of Title Insurance.
5. The Closing of the transaction shall be held on or before thirty(30)days from the Effective Date.
At Closing, Purchaser shall deliver the wire transfer to Seller and Seller shall deliver the fully
executed Statutory Deed to the Purchaser. Purchaser shall be entitled to full possession of the
Property at Closing.
6. Seller shall convey a marketable fee simple title free of any liens, encumbrances,exceptions, or
qualifications. Marketable title shall be determined according to applicable title standards
adopted by the Florida Bar and in accordance with law.
7. Each party shall be responsible for the payment of its own attorney's fees, if any. Purchaser, at
its sole cost and expense, shall pay at Closing all documentary stamp taxes due relating to the
recording of the Statutory Deed, in accordance with Chapter 201.01, Florida Statutes, and the
cost of the title commitment and the title policy. Purchaser shall pay for the cost of recording the
Statutory Deed. The cost of recording any instruments necessary to clear Seller's title to the
Property will be paid by Seller.
8. Ad Valorem and Non-Ad Valorem property taxes shall be prorated between Seller and
Purchaser on a 365-day calendar or fiscal year, as appropriate, and shall be based on the
current year's tax. If Closing occurs at a date which the current year's tax is not fixed, taxes will
be prorated based upon such prior year's tax. In determining prorations, the closing date shall
be allocated to Purchaser.
9. Brokerage commissions in the amount of SIXTEEN THOUSAND TWO HUNDRED AND
SEVENTY EIGHT and no/100 Dollars ($16,278) shall be paid out of the Seller's proceed at the
time of closing.
10. Purchaser acknowledges there shall be covenants that run with the lands of the property within
the Community Redevelopment Plan and herein described that will be fully binding on any
successors, heirs, and assigns of owners who may acquire any right,title, or interest in or to the
property: A) Mobile homes shall not be permitted on this site; and B) Construction must
commence as outlined in Exhibit"B".
11. Conveyance of the Property by Seller is contingent upon no other provisions, conditions, or
premises other than those so stated herein; and the written Agreement shall constitute the
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Purchase Agreement _
entire Agreement and understanding of the parties, and there are no other prior or written or oral
agreements,undertakings, promises,warranties,or covenants not contained herein.
12. This Agreement and the provisions hereof shall be effective as of the date this Agreement is
executed by both parties and shall inure to the benefit of and be binding upon both parties
hereto and their respective heirs, executors, personal representatives, successors, successor
trustees,and/or assignees,whenever the context so requires or admits.
13. Any amendment to this Agreement shall not bind any of the parties hereto unless such
amendment is in writing and executed and dated by Purchaser and Seller. Any amendment to
this Agreement shall be binding upon Purchaser and Seller as soon as it has been executed by
both parties.
14. No waiver of any provision of this Agreement shall be effective unless it is in writing signed by
the party against whom it is asserted, and any waiver of any provision of this Agreement shall
be applicable only to the specific instance to which it is related and shall not be deemed to be a
continuing or future waiver as to such provision or a waiver as to any other provision.
15. This Agreement is governed and construed in accordance with the laws of the State of Florida.
16. The terms of the contract must be performed within the times specified herein as time is of the
essence.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the dates set
forth herein below.
Date Property conveyance approved by BCC:
AS TO SELLER:
DATED:
ATTEST: COLLIER COUNTY COMMUNITY
DWIGHT E. BROCK,Clerk REDEVELOPMENT AGENCY
BY:
, Deputy Clerk DONNA FIALA, Chairman
AS TO PURCHASER:
DATED:
LOVE&LEGACY LLC,a Florida
limited liability company
Witness(Signature) By:
Calixto Montenegro, as Manager
Name:
(Print or Type)
Witness(Signature)
Name:
(Print or Type)
Approved as to form and legality:
Jennifer A.Belpedio
Assistant County Attorney
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5/13/2014 14.B.1.
Purchase Agreement
EXHIBIT "A"
PARCEL #1: 3155 Karen Drive (Tax Id # 61840320002), described as: Lot 15, Tarpon
Mobile Home, more particularly described as: Beginning at the Northeast corner of Lot 100,
Naples Grove and Truck Co's Little Farms No. 2, according to plat in Plat Book 1, Page 27,
Public Records of Collier County, Florida; thence North 89 degrees 26 minutes 46 seconds
West, 480.0 feet to the POINT OF BEGINNING: thence South 00 degrees 09 minutes 00
seconds West, 139.0 feet; thence South 89 degrees 26 minutes 40 seconds East, 60.0 feet;
thence North 00 degrees 09 minutes 00 seconds East, 139.0 feet; thence North 89 degrees
26 minutes 40 seconds West, 60.0 feet to the POINT OF BEGINNING.
PARCEL #2: 3175 Karen Drive (Tax Id # 61839440003), described as: Lot 16, of an
unrecorded plat: Commencing at the Northeast corner of Lot 100, Naples Grove and Truck
Co's Little Farms No. 2, according to plat in Plat Book 1, Page 27, Public Records of Collier
County, Florida; thence North 89 degrees 26 minutes 40 seconds West, 420.0 feet to the
POINT OF BEGINNING: thence South 00 degrees 09 minutes 00 seconds West, 139.0 feet;
thence South 89 degrees 26 minutes 40 seconds East, 60.0 feet; thence North 00 degrees
09 minutes 00 seconds East, 139.0 feet; thence North 89 degrees 26 minutes 40 seconds
West,60.0 feet to the POINT OF BEGINNING.
PARCEL #3: 3152 Karen Drive (Tax Id # 61839680009), described as: Lot 37, Tarpon
Mobile Homes, more particularly described as follows: Beginning at the Northeast corner of
Lot 100, Naples Grove and Truck Co.'s Little Farms No. 2, according to the plat in Plat Book
1, Page 27, of the Public Records of Collier County, Florida; thence South 00 degrees, 09
minutes 50 seconds, West 337.8 feet; thence North 89 degrees, 27 minutes 00 seconds,
West 480.0 feet to the POINT OF BEGINNING: thence North 00 degrees, 09 minutes 00
seconds, East 139.0 feet; thence South 89 degrees, 27 minutes 00 seconds, East 60.0 feet;
thence South 00 degrees, 09 minutes 00 seconds, West 139.0 feet; thence North 89
degrees, 27 minutes 00 seconds,West 60.0 feet to the POINT OF BEGINNING.
PARCEL #4: 3000 Karen Drive (Tax Id # 61839560006), described as: Lot 28, Tarpon
Mobile Homesites, more particularly described as follows: Beginning at the Northwest corner
of Lot 100, Naples Grove and Truck Co.'s Little Farms No. 2, according to the Plat Book 1,
Page 27, of the Public Records of Collier County, Florida; thence South 00 degrees, 09
minutes 00 seconds, West 337.9 feet; thence South 89 degrees, 27 minutes 00 seconds,
East 296.81 feet to the POINT OF BEGINNING: thence South 89 degrees, 27 minutes 00
seconds, East 60.0 feet; thence North 00 degrees, 09 minutes 00 seconds, East 139.0 feet;
thence North 89 degrees, 26 minutes 40 seconds, West 60.0 feet; thence South 00 degrees,
09 minutes 00 seconds,West 139.0 feet to the POINT OF BEGINNING.
PARCEL#5: 3205 Karen Drive (Tax Id#61840280003), described as: Lot 18 Tarpon Mobile
Homesites, more particularly described as follows: Beginning at the Northeast corner of Lot
100, Naples Grove and Truck Co.'s Little Farms No. 2 Subdivision, according to the Plat
Book 1, Page 27, of the Public Records of Collier County, Florida; thence North 89 degrees,
26 minutes 40 seconds, West 300.0 feet to the POINT OF BEGINNING: thence South 00
degrees, 09 minutes 00 seconds, West 139.0 feet; thence South 89 degrees, 26 minutes 40
seconds, East 60.0 feet; thence North 00 degrees, 09 minutes 00 seconds, East 139.0 feet;
thence North 89 degrees, 26 minutes 40 seconds, West 60.0 feet to the POINT OF
BEGINNING.
PARCEL #6: 3258 Lunar Street (Tax Id # 29430240000), described as: Lot 7, Crews
Subdivision, in accordance with and subject to the plat recorded in Plat Book 9, Page 48,
Public Records of Collier County, Florida.
PARCEL#7: 3029 Lunar Street (Tax Id # 53352920005), described as: Lot 90, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
PARCEL#8: 3037 Lunar Street (Tax Id # 53352880006), described as: Lot 89, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
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CA
Purchase Agreement 5/13/2014 14.B.1.
PARCEL#9: 3015 Karen Drive (Tax Id#61839120006), described as: Lot 7,Tarpon Mobile
Estates, an unrecorded plat, more particularly described as follows: Beginning at the
Northwest corner of Lot 100, Naples Grove and Truck Co's Little Farms No. 2, in accordance
with and subject to the plat recorded in Plat Book 1, Page 27A, Public Records of Collier
County, Florida; thence South 89 degrees 26 minutes 40 seconds East 356.81 feet to the
POINT OF BEGINNING: thence South 89 degrees 26 minutes 40 seconds East 60.0 feet;
thence South 00 degrees 09 minutes 50 seconds West 139.0 feet; thence North 89 degrees
27 minutes 00 seconds West 60.0 feet; thence North 00 degrees 09 minutes 00 seconds
West, 139.0 feet to the POINT OF BEGINNING.
Lot 100 of Naples Grove and Truck Co's Little Farms No. 2 Subdivision and Lot 100 of
Naples Groves and Truck Co's Little Farms No. 2, Section 23 Township 50 South, Range 25
East, as recorded in Plat Book 1, Page 27A, Public Records of Collier County, Florida are
one and the same.
PARCEL#10: 3991 New Moon Ct(Tax Id#53351480009), described as: Lot 43, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
PARCEL #11: 3962 Harvest Ct (Tax Id # 53351680003), described as: Lot 48, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
PARCEL #12: 4000 Harvest Ct (Tax Id # 53351800003), described as: Lot 51, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
PARCEL#13: 4032 Full Moon Ct (Tax Id # 53350240004), described as: Lot 7, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
PARCEL#14: 3252 Lunar (Tax Id #29430320001), described as: Lot 9, Crews Subdivision,
in accordance with and subject to the plat recorded in Plat Book 9, Page 48, Public Records
of Collier County, Florida.
PARCEL#15: 4048 Full Moon Ct (Tax Id # 53350260000), described as: Lot 8, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
PARCEL #16: 3991 Harvest Ct (Tax Id # 53352200000), described as: Lot 66, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
PARCEL#17: 3979 Harvest Ct(Tax Id#53352240002), described as: Lot 67 and the South
half(1/2) of Lot 68, Lake Kelly, Unit 2, in accordance with and subject to the plat recorded in
Plat Book 3, Page 93, Public Records of Collier County, Florida.
PARCEL #18: 4005 Harvest Ct (Tax Id # 53352160001), described as: Lot 65, Lake Kelly,
Unit 2, in accordance with and subject to the plat recorded in Plat Book 3, Page 93, Public
Records of Collier County, Florida.
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A
5/13/2014 14.B.1 .
Purchase Agreement
EXHIBIT "B"
All homes will be single family, concrete block construction. Purchaser will make best efforts
to make sure the properties are sold such that they will be owner occupied or occupied by
seasonal residents.
Proposed Building Time-Frame
Phase One: Building shall commence on first two lots within 30 days of closing.
Phase Two: Building shall commence on next four lots within 6 months of closing.
Phase Three: Building shall commence on six additional lots within one year of closing.
Phase Four: Building shall commence on remaining six lots within 18 months of
closing.
Buildings shall be deemed complete when a certificate of occupancy is issued.
Subject to force majeure, parcels not receiving a certificate of occupancy within 24 months of
close and settlement shall automatically revert to Seller or its successors or assigns, without
the necessity of Seller or its successors or assigns taking any affirmative action to effectuate
the reverter.
Force Majeure: Fire, flood, earthquake or hurricane or for any other cause similar to those
enumerated.
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Economic Impact of the Construction
18 Live Work Residences
The building of eighteen homes in the Bayshore CRA will generate
substantial local economic activity, including new income and jobs for residents,
and additional revenue for local governments. The effect of the construction
activity itself, the ripple impact that occurs when income earned from
construction activity is spent and recycles in the local economy.
Based upon a model of the National Association of Home Builders and
interpolated to the impact of eighteen single family homes located within the
Bayshore CRA would result in the following over the proposed two year build out:
o $399,000.00 in local income
o $418,000.00 in taxes and other income for local governments and
o 61 local jobs
Currently the eighteen lots are producing no income to the CRA or Collier County
and other taxing districts
o With the transfer at current millage and property appraisers valuation the
real estate tax income would he $6,764.30 annually.
o With the completion of the eighteen homes at an average sales price of
$275,000.00 real estate taxes would be $71,182.87 annually.
o Even with the estimated impact fee credit of $7,429.00 per lot provided by
the previous mobile homes that had been located on the lots, the
construction of eighteen 1,500 square foot single family homes would
result in $126,000.00 - $150,000.00 in additional impact fees to the County.
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5/13/2014 14.B.1.
In addition, the annual recurring positive financial impact of eighteen new homes
would benefit the community substantially.
o
$589,000.00 in local income
o 10 local jobs
o The economic impact to this area would be significant.
These are ongoing, annual local impacts that result from the new homes being
occupied and the occupants paying taxes and otherwise participating in the local
economy year after year. The ongoing impacts also include the effect of increased
property taxes, based on the difference between the value of raw land and the
value of a completed housing unit on a finished lot.
The Development
All homes built on the CRA lots will be single family homes approximately 1500
square feet. The first phase of construction will begin within 30 days of close and
settlement of the CRA lots. Building of all of the single family homes will be
completed within 24 months of close and settlement of the CRA lots. It is the
goal and intention to sell the single family homes to owner occupied residents
and/or seasonal residents. It is not the intention nor desire to sell to investors or
landlords. Below is the estimated timeline for completion.
Phase One Begin building on first two lots within 30 days of close and
settlement.
Phase Two Begin building on next four lots within months of close and
settlement.
Phase Three Begin building on six additional lots within 1 year of close and
settlement.
Phase Four Begin building on remaining 4 lots within 18 months of close and
settlement.
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5/13/2014 14.B.1 .
Sample Elevations and Floor Plans Live Work Housing
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separated from live space in compliance with Live/Work Ordinance
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5/13/2014 14.B.1 .
Development Team
Developer:
Cal Montenegro
President
Love and Legacy Communities
4947 Tamiami Trail North
Suite 106 Naples, Fl 34103
Licensed Broker
Nationwide Real Estate
CEO
World Strategic Alliances
Professional Experience
Cal Montenegro is a developer and a pastor with a strong sense of
commitment to helping others. He has found innovative and creative ways to
accomplish just that. Cal has made several missionary trips to Central America
to help build churches, work with orphans and provide services in Oncology
for children's hospitals. With experience in budget administration,
expenditure analysis and expense projections, he has helped create facilities
like senior living centers and provided businesses with growth opportunities
by connecting world leaders of commerce and industry. Cal Montenegro has
over 15 years of real estate experience and has been in involved in land
development since 2001. Alongside developers from different countries, he
has overseen the execution of projects from start to finish. Cal's extensive
experience in residential and commercial real estate, has allowed him to assist
others in the progression of their successful businesses.
Packet Page -347-
5/13/2014 14.B.1 .
Project Manager / Broker:
Diane Sullivan
Naples Beach and Bay Realty •
3570 Bayshore Dr
Suite 103 Naples, FL 34112
Professional Experience:
Diane has been a top producer in the Real Estate industry for many years
ranking in the top 6% in the country for sales volume and the recipient of
numerous awards and recognitions all while running a successful
construction company. In addition, Diane was a Commissioner with the City
(Bloomington, IL) and the President and/or Director of numerous Boards.
Naples Beach and Bay Realty is a full service Brokerage, offering Residential
and Commercial Real Estate, Land Acquisition and Development, Income and
Investment Properties, and Leases and Rentals. Naples newest Real Estate
Brokerage - the only Brokerage specializing in the Bayshore Area.
Sullivan Brothers Construction Inc (SBCI), Sullivan Building Corp, Naples
FL, Sullivan Construction, Bloomington, IL. Sullivan Construction is a full
service general contracting firm specializing in redevelopment, rehabilitation
and Historical Restoration. We take something at the end of its economic life
and create something ascetically and financially beautiful. Diane is
responsible for all aspects of sales and marketing, design and execution of
projects. Her strengths are her ability to assess the pros and cons of a project,
identify the target markets and create the design to get the job sold. She has
worked on large public projects, including commercial projects and properties
listed on the National Register, as well as remodeling projects for private
consumers. She is an EPA certified remodeler. This certification enables her
to work on properties built prior to 1978 if any government funding is being
used. She has also purchased, renovated and sold many properties, long
before it was in vogue or the word "flipping" even existed. With a keen eye for
design she pays close attention to every detail whether designing for a
homeowner or working on a spec project. Diane provides superior quality
and design at exceptional value, combined with her dedication to delivering a
superior product, she has established an excellent reputation making her
properties highly desirable and often sought after.
Packet Page -348-
5/13/2014 14.B.1 .
Builder:
Herman Javier Castano
Crown Custom Homes Inc.
7430 Vanderbilt Beach Rd, #108-269
Naples FL 34109
Javier Graduated from South Florida University in 1980. He first worked for
Collier Enterprises from 1981 to 1984. In 1985 he opened Winsco Builders a
Retail and Commercial Builder and Development company. He ran Winsco
through 1992. Some of the buildings he built include, the UPS Building on
Commercial, Trade Center Way Industrial, the Seminole Casino in Immokalee
And many custom homes at Lely Barefoot Beach.
Javier opened and operated Crown Construction from 19934996. During that
time he built the Court Plaza Office Center, reconstructed many homes in
Homestead damaged by Hurricane and built various single family, multifamily and
commercial construction projects.
He opened and has operated Crown Custom Homes from 1996 to Present and has
built many custom homes in Collier, Lee and Monroe Counties. Below is a list of
his most recent projects:
8231 Wilshire Lakes
8235 Wilshire Lakes
642 111th Ave north
646 111th Ave north
650 111th Ave north
643 110th Ave north
647 110th Ave north
651 110th Ave north
Packet Page -349-
5/13/2014 14.B.1 .
2013 FLORIDA LIMITED LIABILITY COMPANY ANNUAL REPORT FILED
DOCUMENT#L09000123255 Apr 03, 2013
Entity Name: LOVE&LEGACY LLC Secretary of State
CC0052508263
Current Principal Place of Business:
4947 TAMIAMI TR N
SUITE 106
NAPLES, FL 34103
Current Mailing Address:
4947 TAMIAMI TR N
SUITE 106
NAPLES, FL 34103 US
FEI Number:APPLIED FOR Certificate of Status Desired: Yes
Name and Address of Current Registered Agent:
MONTENEGRO,CALIXTO
4947 TAMIAMI TR N
SUITE#106
NAPLES,FL 34103 US
The above named entity submits this statement for the purpose of changing its registered office or registered agent,or both,in the State of Florida.
SIGNATURE:
Electronic Signature of Registered Agent Date
Authorized Person(s) Detail : •
Title MGR
Name MONTENEGRO,CALIXTO
Address 4947 TAMIAMI TR N STE 106
City-State-Zip: NAPLES FL 34103
•
I hereby certify that the information indicated on this report or supplemental report is true and accurate and that my electronic signature shall have the same legal effect as if made under
oath;that tame managing member or manager of the limited liability company or the receiver or trustee empowered to execute this report as required by Chapter 605,Florida Statutes;and
that my name appears above,or on an attachment with all other like empowered.
SIGNATURE:CALIXTO MONTENEGRO CEO 04/03/2013
Electronic Signature of Signing Authorized Person(s)Detail Date
Packet Page -350-
5/13/2014 14.B.1.
Naples Daily News
Naples, FL 34110
Affidavit of Publication
Naples Daily News
+
JEAN JOURDAN
BAYSHORE GATEWAY CRA
3570 BAYSHORE DR STE 102
NAPLES FL 34112
10101-4P09'0r NOTICE .,::::
LEGAL NOTICE • .
REFERENCE : 068839 PROPERTY EDP.SALE
INVIlATION FOR SEALED BID PROPOSA$
59745228 LEGAL NOTICEPROPERT' N.0-1-:,-- Is HEREBY GNEN THAT THE COLI1ER COUNTY COMMUNITY
- REV'JELOPMENT AGENCY IS SOLICITING BID PRDPOSALS FROM ,INTERESTED
FARTS FOR THE PURCHASE OF ANY OR ALL OF THE FOLLOWING EIGHTEEN (IE)
State of Florida VACANT LOTS LOCATED WITHIN THE BAYSHORE REDEVELOPMENT AREA
County cf ColTi,,,r 3000 KAREN DRIVE(Parcel Id 61839560006)
r15 E ARE N DP.IVE(Parcel D61839120006) .
,'“.KAREN DRIVE(Pi,rce■IC)61B403.20052
Before the undersigned authority, p-rsor :10,,RENDRNE0--,,,,,,H06*-3.96s009',
appeared Robin Calabr,-s,- VI° on oai-h s 17- -
3 5 KAREN DRIVE(parcel ID 61639440003)
she ='.---J,-- - -1-,„--,„ ci,„ ni
_.. as L., a_ A. re.:r_ _sing Di,—r-tnr (---"Yfs 3205 r.?%. LV:UUA144 At.A;'1?S'TI7FEI T1 PaP ra'crrerirrit DDT493 1 3°S.922 86'2°2,°C)0(CC),a93)15
Naples Daiiv News, a daily n,,,ws ---,p -,-. plbl' ="7 tUNi,P.STREET(Parc. !IF'5?.2528F,OB061
'::".1B8 LUNAR STREET(Parce■ID 29430240000)
Naples, ' ' ' - : -,. --.--_,- T- L.- -L -'''''''NEV'MOON COURT PilrceI ID 533514300P P)
in Lollier LE--,,-a-17-‘, E --- -- • -1--- -,-s-E--',-,L1--:, ,,,, --,a -,03•:
attached copy flf -ac-, - .74 HARVEST C-0.1R1(Pact:1 ID 53B2.;',■00J2)
-_ ._,--\.7e2it 1,--„ing- w".Ci T-)1111)1 i91--as;d• ---•-..; HARVEST COURT Pe ID 5 :t52200000)
... . 4.t100 HAPVE!:F COtJP,7 IlD '2,3.FIE,B00G2.)
newspaper on dates list,..d. ..srsitF HARVEST COUR7(Pertr,i IL•;-:::',52160001
403:TULL MOON COURT(Parcai D 53353240024)
Affiant further says that the said F pl,, . 04.8 FULL MOON COURT(Pa,ce)053350260000)
4 a"- - 4 te ' it-. 'in> bid prce ts St.1,000, her lot, all cash, with a ten percent 00%)
1..., ...- _ ,,..., _ . .,= a \ap es, a.
News is a rewsPap,'r p-blish-d -t 17 1 -
aolli,--r co,-„1-.: 1-y, Tb,le•P''''71'`;1-7°.nuat'-,,',' aInc&c; contraH 1ToinI IF:nr-17,f nrt'hewiltlyphee of sold as tips"reasniddeenatiahl
F1'-r4 --','- --,--1 -1--- ---• `- ''.ey'l-r','“-,,, `,,,,,, ir, ,,,. c,crifitted AB of the parcels are zoned
,..._ _L L.,,a' , cz,ilL., L.,.,..ta.L. ,..Ile said r-,'!'..r,',.L'rc;.,, ?,‘,4.,,,,.,:: ,..;;;:j{,. ncr,es, nr pact fee credits may be available
.L...1_I.-Li,.__,a.:-_- ..1_y
newsoap,,--1- has hr,-.i-ofor,--, he-n ccri4-' - ---'
...
,_.--,, . ao,;',8,„:•,';',,anl.,105,,,v,„-,,,..'-,ii.ir.,„ 13,,,■te .,,uervc:L.;1,Teircao,,r. deccobrricirciLnirloi,dRdeecrsievweillol pbmeernetquAirgeednctyo,
publ i:_-:11--aeu. -13.-1 --,a i(3 Cc 11 -■ c--7-- (-01.11-“-V 71 r"r--, -,,--, and .;111 o and thnonicrn arnt thb)eti to apnroval by. the Collier bCounty
day and has b,=,,an c
„„...1a..„..„.„,.3 a ,,-,,,a,c`-',2, 10..,- ,-,,,2,-a,:.;:,_Cf."' Cornr,w-W,,, ;-“,i,,et..;',F11•7.fli AC,) ,,,-■ ;,,, awarned B.dder will be responsl le for
rai Dayir::El0,TIS C,. .OS a7B SI,MuYZ,'1:)•1,,)(1,in tht Naicy real estate mar ket.
packets on the
.,...)....,...L, , ._—_,_ ,..;,,,,,, .:-,-,n,10,Icn,D.--.tn:,r,:th,r,dtn'rd'are.,,,an Ti Lang,,-RA a,-39-6431115.
C -- at :he post off- s,- -', n. Nariss jn ,sa.• ,,,,,,--, ,--,--- i'- °:6.,"
Collier Counv, ''--('-1-•
• - -'----- i --.-- L---'r',--- "," '-'-
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nexL. i„..- -EuEn, tne Eirsc Pusi-I cat, on of th€ ,r,lrn,Prddn,cd
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further says tha-H 1-1 'n - .--' -14 ''' 'i4T''''1'3411:2
...„ _...,, -u.i:ner paia nor
promised any person, -,,,,.. "do ernrOope
firm or co,-po-ation ,refid.i,e„.0,-Nopca, .
R. ,,,,ADE 6,.'THO5E INTERESTED V:!TH1N
re:lima_ T (7, -:,, (,...t 4H-E,R,,,!:Dr.`F-;.;P ;■-,,L.BCI;CE
. _
publication in tne said newspaper.
PUBLISHED 07'::: 04/09
AD SPACE: 106 LINE
FILED ON: 04/09/14
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5/13/201414.8.1. j
FLORIDA STATUTE 163.380
163.380 Disposal of property in community redevelopment area.—The disposal of property in a
community redevelopment area which is acquired by eminent domain is subject to the limitations
set forth in s. 73.013.
(1) Any county, municipality,or community redevelopment agency may sell, lease, dispose of,
or otherwise transfer real property or any interest therein acquired by it for community
redevelopment in a community redevelopment area to any private person, or may retain such
property for public use, and may enter into contracts with respect thereto for residential,
recreational, commercial, industrial, educational, or other uses, in accordance with the
community redevelopment plan, subject to such covenants, conditions, and restrictions, including
covenants running with the land, as it deems necessary or desirable to assist in preventing the
development or spread of future slums or blighted areas or to otherwise carry out the purposes of
this part. However, such sale, lease, other transfer, or retention, and any agreement relating
thereto, may be made only after the approval of the community redevelopment plan by the
governing body. The purchasers or lessees and their successors and assigns shall be obligated to
devote such real property only to the uses specified in the community redevelopment plan and
may be obligated to comply with such other requirements as the county, municipality, or
community redevelopment agency may determine to be in the public interest, including the
obligation to begin any improvements on such real property required by the community
redevelopment plan within a reasonable time.
(2) Such real property or interest shall be sold, leased, otherwise transferred, or retained at a
value determined to be in the public interest for uses in accordance with the community
redevelopment plan and in accordance with such reasonable disposal procedures as any county,
municipality, or community redevelopment agency may prescribe. In determining the value of
real property as being in the public interest for uses in accordance with the community
redevelopment plan, the county, municipality, or community redevelopment agency shall take
into account and give consideration to the long-term benefits to be achieved by the county,
municipality, or community redevelopment agency resulting from incurring short-term losses or
costs in the disposal of such real property; the uses provided in such plan; the restrictions upon,
and the covenants, conditions, and obligations assumed by, the purchrser or lessee or by the
county, municipality, or community redevelopment agency retaining the property; and the
objectives of such plan for the prevention of the recurrence of slum or blighted areas. In the
event the value of such real property being disposed of is for less than the fair value, such
disposition shall require the approval of the governing body,which approval may only be given
following a duly noticed public hearing. The county,municipality, or community redevelopment
agency may provide in any instrument of conveyance to a private purchaser or lessee that such
purchaser or lessee is without power to sell, lease, or otherwise transfer the real property without
the prior written consent of the county, municipality, or community redevelopment agency until
the purchaser or lessee has completed the construction of any or all improvements which he or
Packet Page -352-
5/13/2014 14.B.1 .
she has obligated himself or herself to construct thereon.Real property acquired by the county,
municipality,or community redevelopment agency which, in accordance with the provisions of
the community redevelopment plan, is to be transferred shall be transferred as rapidly as feasible
in the public interest, consistent with the carrying out of the provisions of the community
redevelopment plan. Any contract for such transfer and the community redevelopment plan, or
such part or parts of such contract or plan as the county,municipality,or community
redevelopment agency may determine,may be recorded in the land records of the clerk of the
circuit court in such manner as to afford actual or constructive notice thereof.
(3)(a) Prior to disposition of any real property or interest therein in a community redevelopment
area, any county,municipality,or community redevelopment agency shall give public notice of
such disposition by publication in a newspaper having a general circulation in the community, at
least 30 days prior to the execution of any contract to sell, lease, or otherwise transfer real
property and,prior to the delivery of any instrument of conveyance with respect thereto under
the provisions of this section, invite proposals from, and make all pertinent information available
to,private redevelopers or any persons interested in undertaking to redevelop or rehabilitate a
community redevelopment area or any part thereof. Such notice shall identify the area or portion
thereof and shall state that proposals must be made by those interested within 30 days after the
date of publication of the notice and that such further information as is available may be obtained
• at such office as is designated in the notice. The county,municipality, or community
redevelopment agency shall consider all such redevelopment or rehabilitation proposals and the
financial and legal ability of the persons making such proposals to carry them out; and the
county,municipality, or community redevelopment agency may negotiate with any persons for
proposals for the purchase, lease, or other transfer of any real property acquired by it in the
community redevelopment area. The county,municipality, or community redevelopment agency
may accept such proposal as it deems to be in the public interest and in furtherance of the
purposes of this part.Except in the case of a governing body acting as the agency, as provided in
s. 163.357, a notification of intention to accept such proposal must be filed with the governing
body not less than 30 days prior to any such acceptance.Thereafter,the county,municipality, or
community redevelopment agency may execute such contract in accordance with the provisions
of subsection(1) and deliver deeds, leases, and other instruments and take all steps necessary to•
effectuate such contract. •
(b) Any county,municipality, or community redevelopment agency that,pursuant to the
provisions of this section,has disposed of a real property project with a land area in excess of 20
acres may acquire an expanded area that is immediately adjacent to the original project and less
than 35 percent of the land area of the original project, by purchase as provided in this chapter,
and negotiate a disposition of such expanded area directly with the person who acquired the
original project without complying with the disposition procedures established in paragraph (a),
provided the county,municipality, or community redevelopment agency adopts a resolution
making the following findings:
1. It is in the public interest to expand such real property project to an immediately adjacent
area. •
2. The expanded area is less than 35 percent of the land area of the original project.
Packet Page -353-
5/13/2014 14.B.1 .
3. The expanded area is entirely within the boundary of the community redevelopment area.
(4) Any county, municipality, or community redevelopment agency may temporarily operate
and maintain real property acquired by it in a community redevelopment area for or in
connection with a community redevelopment plan pending the disposition of the property as
authorized in this part,without regard to the provisions of subsection(1),for such uses and
purposes as may be deemed desirable, even though not in conformity with the community
redevelopment plan.
(5) If any conflict exists between the provisions of this section and s. 159.61,the provisions of
this section govern and supersede those of s. 159.61.
(6) Notwithstanding any provision of this section, if a community redevelopment area is
established by the governing body for the redevelopment of property located on a closed military
base within the governing body's boundaries, the procedures for disposition of real property
within that community redevelopment area shall be prescribed by the governing body, and
compliance with the other provisions of this section shall not be required prior to the disposal of
real property.
History.—s. 11, ch. 69-305; s. 9, ch. 77-391; s. 13, ch. 84-356; s. 1, ch. 92-162; s. 906, ch. 95-
147; s. 1, ch. 96-254; s. 9, ch. 98-314; s. 12, ch. 2006-11.
Packet Page -354-
5/13/2014 14.B.1.
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Vacant Land Appraisal Report
This appraisal report has been prepared for our client, Bayshore CRA. The intended
use was to assist the client in internal decision making. The scope of work
performed is specific to the needs of the intended user and the intended use. No
other use is intended, and the scope of work may not be appropriate for other uses.
The scope of work performed included a complete analysis of the Subject Property
with consideration given to the three applicable approaches to value.
The Sales Comparison Approach to value is the most reliable when the subject
property is vacant land. The subject property is approximately 0.09 acres of vacant
land zoned MH-BMUD-R3. Therefore based upon the scope of the assignment,
investigation and analysis of the information contained during the research of data
in this report, as well as my general knowledge of real estate valuation procedures
and market conditions, it is my opinion that the estimated "as is" of the Subject
Property being 0.09 acres will be $19,250 as of Oct 16, 2013.
Roosevelt Leonard
Real Estate Appraiser
Packet Page-357-
5/13/2014 14.B.1.
----
A SUMMARY APPRAISAL REPORT
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Vacant Land Appraisal Report
This appraisal report has been prepared for our client, Bayshore CRA. The intended
use was to assist the client in internal decision making. The scope of work
performed is specific to the needs of the intended user and the intended use. No
other use is intended, and the scope of work may not be appropriate for other uses.
The scope of work performed included a complete analysis of the Subject Property
with consideration given to the three applicable approaches to value.
The Sales Comparison Approach to value is the most reliable when the subject
property is vacant land. The subject property is approximately 0.09 acres of vacant
land zoned MH-BMUD-R3. Therefore based upon the scope of the assignment,
investigation and analysis of the information contained during the research of data
in this report, as well as my general knowledge of real estate valuation procedures
and market conditions, it is my opinion that the estimated "as is" of the Subject
Property being 0.09 acres will be $19,250 as of Oct 16, 2013.
Roosevelt Leonard
Real Estate Appraiser
Packet Page -360-
5/13/2014 14.B.1 .
THE SUBJECT PROPERTY
VACANT LAND 0.09 ACRES
- Pa1 eel No ;533522000001 Site 3991 HARVEST CT j
n1JiCOLLIER CNTY COMMUNITY
;`REDEVELOPMENT AGENCY
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" a„ 'LAKE KELLY UNIT 2 LOT 66
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Subs/Cbndr�-'441400 - LAKE KELLY UNIT 2 School Other Total i
86 - COUNTIES INCLUDING NON-
Use Code �, 5.69 8.7662 14.4562;
MUNICIPAL GOV.
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_..,.._ Packet Page -362- ----'
5/13/2014 14.B.1 .
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SHORT FORM REPORT
VACANT LAND APPRAISAL
foii0:N-0:
, -,- 53351680003 ,., :- . "-:-Pi-0060.rAddress::"..,.:,.-::: 3962 HARVEST CT NAPLES, FL 34112
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S.OLLIER CNTY COMM REDEV AGENCY 1
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!4.!-:-!'!!!!! Legal--SilORT LEGAL
iiii ! :!-I. KELLY UNIT 2 LOT 48
1■■■•■■■■•:■......S.;,.."‘00.1;*1N* :MN MA*0.0.
.;.:S &i 6 in '';''' ' ' 'T' owns h ip=7,-:-.,---.J., - -,- --Range!.i.'i!-- - _ Acres JJ J. JJ-,:!.-J.-,- Map No !J.--,!!!: IrlIP!Neitottitt.:„ IlmilJ;
14 50 25 0.09
_
VACANT LAND l'O j.MillP/tjelJ4Ii.11 :J,-P1,11.011711-641-4
,„...-_ ,..
! JSLI3JECT PROPERTY COMPARABLE ND. 1 COMPARABLE NO.2 COMPARABLE NO.3
2962 HARVEST CT 2955 COTTAGE GROVE 3132 PETERS AVE 112 JEEPERS DR
Proximity to LJbjer, •r. ' : '' ' TX ID 23370680001 TX ID 30480580000 TX ID 53400280008
Sales Pf;:.",e I , ':1--,"T'T':::.7.-:.-,•t•-,:::•,:',"::.:'`,1 £15,000 q-;:-...:.1-'::;:-:.i.iiiV-jjij,: -. $25,000 'j:ii!":!!':!':Liii!!Ii!ji-AN!'-4-4}. $42.000
.--, , . ,,,,-,_ , ,_,. .,J
Unit Pris, !.J,-.."--J•ri..--!-! 1, ::4,,, :1 .f: '''',:,'-,'.!!:',"::,....-1%;:"."'_,',::;. 1-- 2.15 SF ,Jr!ji`-!--Ir.!•:..-,S7*--!!!:.;:::, J.98 SF ,.,-, ' ,.._.-.1-.7,;:,i1;:•,,',7:- 6.03 SF
-..! ! -• ----
Data Source t `,:iROPERTY APPR EEC Prdperty iiippraiser Sales Data Property Appraiser Sales Data Property Appraiser Sales Data
-- - i
+/C 4'-$41-$ +1-s
Date of Sale&Time DESCRIPTION DESCRIPTION DESCRIPTION
Adjustment Ad ustment Adjustment
Adjustment t-kj :!!:, 910'0::-! 6100/2012 $3,000 2/00/2013 $0 7/00/2013 $0
ocation i DAYSHORE AREA SIMILAR $0 SIMILAR $0 Similar $0
LOT UTILITY ' RTES LOT-back to back SIMILAR SO SIMILAR $0 Similar $0
-
SIZE/PARENTIPA!!!!1 :).09 AC /3,920 SF 6,970 SF -$1,500 12,632 SF -55.000 6,970 SF -$1,500
--,---
ROAD FRONTAGE VACANT LAND VACANT LAND 00 VACANT LAND $0 VACANT LAND SO
_
ACCESS I CLEARED LOT CLEARED LOT $0 CLEARED LOT SO CLEARED LOT $0
ii- -
ZONING MH-BMUD-R3 SIMILAR $0 SIMILAR SO Similar $0
; II!! ACT FEE CR$11,703 N/A 5,000 NIA 5:5000 Sirnilar • $0
. -
Sales or Fran eing l;i i!f4i-,tI!!!!!i,j;!;:•;:',. ...;;7•7:.::: :;:,7,-7,;,-:: i
1..- _,,,,,..-r; .:,--:•i.i. ,..-•:- CASH CASH CT-°R 46,300
Concessionc j-J,-;!--!!!!:!!:-.--,-.J.L.-:.:..:J.,J- '...:ii :!:!!.i..,_-,...J-f-I
Net Adj.(Total) :jf,;;-azi,;:e.t,?-zrj!,-,-: tc.::::::,,,,,-;---,'_,Liji. J.:-..ii.:::!...r. 56,500 '..:,..:''',:TLf.--',,F...,f.=• =':::,,:'::: 80 , -•,,;,:,":-...,,: :::;.-,: .: -$7,800
Indicated Value of -r-',F., --4;1!!. ..:*-_!,i-tii -':!!-.Y.,a''':!!!! , _:!--jj I .. i---:J_ .=:."-jI:ji;j:. ,4-
''-:■Zji-7:'F.; ,;"•-:;!. ,:,,;',7;.'. ,,7-a-r-',.,;:" 3 08 SF :;'-F-":"t':',:-',:!.."-,'--1, I,98 SF -----!_J!!!! !'-iiI:!j""ijliz::::i‘ji!,!'r 4.91 SF
Subject -,:i!;:. ..ji-?!--n,--i_,T..II!,:.f!!!=:::---!..-Jilil".:•-•,!: J:',..:--!:Jii.j•-!:=!!--.:j,ij!!!!!!!!!!!!!
.
Comments on Market Data: Considering the current Real Estate closed sales data in this market area that is not nrah of the current op,going land buying for
development purposes:the most weight is placed on$e.9151 The new impact fee per development home lot in this market area is Approx$14,000 per lot.
there is a$11,700 credit C ii the subject property that can he applied at any time.The market value in this appraisal has given that credit a nominal value due to
the merits mova it_.--ii.ct o .,,ii vith the market.
— — —
Final Reconciliation: Al!three approaches were considered in the valuation of this parcel.The sales approach method is given most weight.The value of the
opinions and conclusions tnay be affected due to later known or unknown adverse conditions that exist with the subject property.
— ----- .--
Mathematically: 3.520 SF x$4.91 is$19,247 dollars SAY$1,(),250
..
ppr aiser: -- .
.' .-
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- 7 10/16/2013
1 Roosevelt Leonard
Land Appraisal Report, Appraisal Form 02 Rev Ail QinP,
Packet Page -363-
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