Agenda 11/18/2008 Item #16G 1
Date:
Item #
Agenda Item No. 16G1
November 18. 2008
Page 1 of 26
EXECUTIVE SUMMARY
Recommendation for the Community Redevelopment Agency to approve the purehase of
two residential (mobile home) lots in the Bayshore area of the CRA as part of a CRA
residential infill project; to approve payment from and authorize the CRA Chairman to
make a payment from the Bayshore Gateway Triangle CRA Fund 187 in the amount of
$90,000 plus cost and expenses to complete the sale of subject property contingent upon
review and approval of the Agreement for legal sufficiency by the County Attorney's
Office. Site address: 3029 & 3037 Lunar St. ($90,000).
OBJECTIVE: Recommendation for the Community Redevelopment Agency to approve the
purchase of two residential (mobile home) lots in the Bayshore area of the CRA as part ofa CRA
residential infill project; to approve payment from and authorize the CRA Chairman to make a
payment from the Bayshore Gateway Triangle CRA Fund 187 in the amount of $90,000 plus
cost and expenses to complete the sale of subject property contingent upon review and approval
of the Agreement for legal sufficiency by the County Attorney's Office. Site address: 3029 &
3037 Lunar St. ($90,000).
BACKGROUND: Florida Statute 163.358 - "Exercise powers in carrying out community
redevelopment and related activities" - gives the CRA power to acquire property.
Florida Statute 163.370 - "Powers; counties and municipalities, community redevelopment
agencies" - delineates other powers necessary to carry out the purchase of property.
BCC RESOLUTION No. 2000-82 made a 'finding that a blighted area exists' in the Bayshore
Gateway Triangle area and that 'conditions are present in the Area that are detrimental to the
sound growth of the county and which substantially impair or arrest the growth within the Area,
and present conditions and uses in the Area are detrimental to the public health, safety, morals
and public welfare....'
BCC RESOLUTION No. 2000-181 adopted a community redevelopment plan to correct
deficiencies. The applicable Redevelopment Master Plan sections cite:
1. Neighborhood Focus Program
o Acquisition of vacant and dilapidated sites (page IX-6)
o Demolish dilapidated and unsound buildings (page IV-20)
2. Bayshore Neighborhood Focus Initiative (NFl):
o Bayshore Drive consists of several residential streets and loops extending from
both sides of Bayshore Drive. As a neighborhood it is defined by and will take its
character from the improvements planned for Bayshore Drive. The potential
catalytic effect of the Bayshore Drive Landscape program should be
supplemented by NFl activities as presented on lllustration IX-14 (Exhibit A):
. Site acquisition and infill housing (Illustration lX-14)
. New multifamily housing (Illustration IX-14)
. New single family housing (lJ1ustration lX-14)
Date:
Item #
Agenda Item No. 1681
November 18, 2008
Page 2 of 26
CONSIDERA nONS: As cited in the Bayshore Gateway Triangle Master Plan, there is a
provision for the creation of CRA programs to remove substandard or blighted homes or acquire
vacant lots and facilitate the construction of new housing that meets Collier County codes.
Working with the Local CRA Advisory Board, CRA staff identified stressed locations that had
high crime rates or multiple Code Enforcement problems and blighted neighborhoods where
substandard or aged housing existed. Following the example of other CRAs throughout the state
of Florida, a local program was developed for an older Bayshore Drive neighborhood zoned
mobile home. The Neighborhood Focus Initiative program objectives are:
1. To acquire mobile home lots (with or without trailers) from willing sellers,
2. Demolish existing structures,
3. Prepare the site for new construction,
4. Advertise to the private sector a Request for Proposals (RFP) for each lot,
5. Provide selected floor plans that meet the Bayshore Overlay Design Guidelines,
6. Select qualified builders to construct new housing that meets code,
7. Offer builder incentives, if necessary,
8. Market new housing at workforce or gap priced housing,
9. Require new housing to be deed rcstricted as owner-occupied housing.
Mr. Robert Garcia, President of Florida Real Estate Services, Inc., offered to sell the CRA two
mobile home lots he owns in the Bayshore area. The CRA commissioned two independent
appraisal firms to appraise each one of the two mobile home lots (located in a blighted area the
CRA has been focusing on for residential-infill) to determine their value. The value of the lots as
determined by the two separate appraisals was concluded to be $45,000.00 per lot for a total of
$90,000.
On October 10, 2008 Mr. Garcia signed an Agreement to sell the CRA the two vacant mobile
home lots located at 3029 & 3037 Lunar St. for the appraised value of$45,000 per lot for a total
of $90,000.
This offer was accepted by the Executive Director, contingent uoon CRA Board approval, and
presented to the Bayshore Gateway Triaogle CRA Local Advisory Board. The Local Advisory
Board unanimously accepted the proposal to purchase and recommended to the CRA Board to
authorize the purchase of subject property as part of the Neighborhood Focus Initiative.
It is in the best interest of Collier County, and in particular of the residents of the Bayshore area,
for the CRA to acquire this property, construct new housing and resell the residence as work
force/gap housing. Presently the Land Development Code allows an owner of a mobile home
zoned lot to install a replacement mobile home unit. Replacing mobile homes with new
construction assists in the implementation of the Bayshore Gateway Triangle CRA Master Plan's
Neighborhood Initiative, increases the residents' quality of life and constructs a highcr quality
home within the Coastal High Hazard Area (CHHA).
Therefore, the CRA Local Advisory Board recommends the CRA Board approve the purchase of
the subject property with CRA Trust Funds as part of a residential infill project removing mobile
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Date:
Item #
Agenda Item No. 16G 1
November 18, 2008
Page 3 of 26
homes and replacing them with a foundation home built to current building codes and reso ld as
an owner-occupied workforce/gap housing unit.
FISCAL IMPACT: Capital funds in the amount of $90,000 plus cost and expenses to acquire
the subject property (title insurance, attorney's fee, closing services and recording fees) are
available in the approved FY 2009 Bayshore Gateway Triangle CRA Fund (187) budget. Tax
Increment Financing Revenues will be used to fund this purchase.
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 as documented in Exhibit A.
LEGAL CONSIDERATIONS: The Agreement is subject to final review and approval for
legal sufficiency by the County Attorney's Office. (HFAC)
RECOMMENDATION: That the Collier County Community Redevelopment Agency:
1. Approve the attached Purchase Agreement;
2. Authorize the CRA Chairman to execute same on behalf of the Board;
3. Authorize the CRA Chairman to make payment of all costs and expenses necessary to
close the transaction from the CRA Fund (l 87); and
4. Accept the conveyance of the property via Warranty Deed and authorize the Executive
Director or Assistant County Attorney to record same in the public records of Collier
County, Florida.
Prepared by: Jean Jourdan on October 13, 2008
Proj ect Manager
Bayshore Gateway Triangle Community Redevelopment Agency
3
Item Number:
Item Summary:
Meeting Date:
Page 1 of 1
Agenda Item No. 1681
November 18. 2008
Page 4 of 26
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
16G1
Recommendation for the Community Redevelopment Agency to approve the purchase of two
residential (mobile home) lots in the Bayshore area of the eRA as part of a eRA residential
infill project: to approve payment from and authorize the eRA Chairman to make a payment
from the Bayshore Gateway Triangle eRA Fund 187 in the amount of $90,000 plus cost and
expenses to complete the sale of subject property contingent upon review and approval of
the Agreement for legal sufficiency by the County Attorneys Office Site address: 3029 &
3037 Lunar St. ($90,000).
11/18/2008 90000 AM
Prepared By
Jean Jourdan
Community Redevelopment
Agency
Project Manager
Date
Bayshore~Gateway Redevelopment
10/27/200811:11:52 AM
Approved By
Jean Jourdan
Community Redevelopment
Agency
Project Manager
Date
Bayshore-Gateway Redevelopment
10/27/200810:46 AM
Approved By
David Jackson
Community Redevelopment
Agency
Executive Director
Date
Bayshore-Gateway Redevelopment
10/28/20088:48 AM
Approved By
OMS Coordinator
Administrative Services
Applications Analyst
Date
Information Technology
11/3/20088:59 AM
Approved By
Mark Isackson
County Manager's Office
Budget Analyst
Date
Office of Management & Budget
11/3/20081 :59 PM
Approved By
James V. Mudd
Board of County
Commissioners
County Manager
Date
County Manager's Office
11/12/2008 4:40 PM
file://C:IAQendaTestIExnortll ] 6-Novemher%20 ] R.%20200RI 16.%20CONSFNT%20AGF..
11/12/200R
Agenda Item No. 16G1
November 18, 2008
Page 5 of 26
AGREEMENT FOR SALE AND PURCHASE
THIS AGREEMENT is made and entered Into this 18'" day of November 2008 by and
between Florida Real Estate Services Inc.. whose address is 7030 Sugar Magnolia
Circle. Naples, FI 34109-7832 (hereinafter referred to as .'Seller"). and COLLIER
COUNTY COMMUNITY REDEVLOPMENT AGENCY, whose address is 3301 Tamiami
Trail East. Naples, FL 34112, (hereinafter referred to as '.Purchaser").
WITNESSETH
WHEREAS, Seller is the owner of those certain parcels of real property located at 3029
& 3037 Lunar Street (hereinafter referred to as "Property"). located in Callier County,
State of Florida, and being more particuiarty described in Exhib~ "A'., attached hereto
and made a part hereof by reference.
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WHEREAS, Purchaser IS desirous of purchasing the Property, subject to the conditions
and other agreements hereinafter set forth. and Seller is agreeable to such sale and to
such conditions and agreements.
NOW, THEREFORE, and for and In consideration of the premises and the respectIve
undertakings of the parties hereinafter set forth and the sum of Ten Dollars ($10.00),
the receipt and sufficiency of which is hereby acknowledged, ~ is agreed as fOllOWS:
I. AGREEMENT
1.01 In consideration of the Purchase Price and upon the terms and
conditions hereinafter set forth, Seller shall sell to Purchaser and Purchaser
shall purchase from Seller the Property described in Exhibit '.A'..
102 Seller's offer to sell the Property as represented by the Agreement
will remain in effect without revocation until 5:00 p.m. on November 18, 2008.
II. PAYMEN1 OF PURCHASE PRICE
2.01 The purchase pnce (the .'Purchase Price") for the Property shall be NINETY
THOUSDAND DOLLARS ($90,000). (U.S. Currency) payable at time of closing. ~
III. CLOSING
301 The Closing (THE '.CLOSING DATE'., "DATE OF CLOSING", OR
"CLOSING") of the transaction shall be held on or before NINETY DAYS (90) days
following execution of this Agreement by the Purchaser, unless extended by
mutual written agreement of the parties hereto. The Closing shall be held at the
COllier County Attorney's Office. Administration Building. 3301 Tamiami Trail East,
Naples. Flonda. The procedure to be fOllowed by the parties In connection with
the Closing shall be as follows:
3.011 Seller shall convey a marketable title free of any liens, encumbrances,
exceptions, or qualifications Marketable title shall be determined according to
applicable title standards adopted by the Flonda Bar and in accordance with
law. .At the Closing, the Seller shall cause to be delivered to the Purchaser
the ltems specified herein and the following documents and Instruments duly
executed and acknowledged, in recordable form:
30111 Warranty Deed in favor of Purchaser conveying title to the
Property, free and clear of all liens and encumbrances other than
(a) the lien for current taxes and assessments, not yet due and payable.
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Agenda Item No. 16G1
November 18. 2008
Page 6 of 26
3.0112 Combined Purchaser-Seller closing statement.
3.0113 A "Gap," Tax Proration, Owne(s and Non-Foreign Affidavit," as
required by Section 1445 of the Intemal Revenue Code and as required
by the title insurance underwnter in order to insure the "gap" and issue
the policy contemplated by the title insurance commitment.
3.0114 A W-g Fonn, "Request for Taxpayer Identification and
Certification" as required by the Intemal Revenue Service.
3.012 At the Closing. the Purchaser, or its assignee, shall cause to be delivered to
the Seller the following:
3.0121 Funds in an amount equal to the Net Cash Due to Seller on the
Closing Statement. No funds shall be disbursed to Seller until the Hie
Company verifles that the state of the title to the Property has not
changed adversely since the date of the last endorsement to the
commitment. referenced in Section 4.011 thereto, and the Title
Company is irrevocably committed to pay the Net Cash to Seller and to
issue the Owne(s title policy to Purchaser in accordance with the
commitment immediately after the recording of the deed.
3.0122 Funds payable to the Seller representing the cash payment due
at Closing in accordance with Article III hereof, shall be subject to
adjustment for prorations as hereinafter set forth.
3.02 Each party shall be responsible for payment of its own attomey's fees. Seller,
at its sole cost and expense, shall pay at Closing all documentary stamp taxes due
relating to the recording of the Warranty Deed, in accordance with Chapter 201.01,
Flonda Statutes, and the cost of recording any instruments necessary to clear
Selle(s title to the Property. The cost of a title commitment and the Owne(s Fonn
B Title Policy issued pursuant to the commitment, as provided for in Section 4.011
below, shall be paid by Purchaser. Purchaser shall pay for the cost of recording
the Warranty Deed.
3.03 Real Property taxes shall be prorated based on the current year's tax with
due allowance made for maximum allowable discount, homestead and any other
applicable exemptions and paid by Seller. If Closing occurs at a date which the
current yea(s millage IS not fixed, taxes will be prorated based upon such pnor
yea(s millage.
IV. REQUIREMENTS AND CONDITIONS
4.01 Upon execution of thIS Agreement by both parties or at such other time as
specified within this Article. Purchaser and/or Seller. as the case may be. shall
pelionn the following within the times stated, which shall be conditions precedent
to the Closing;
4.011 Within fifteen (15) days after the date hereof, Purchaser shall obtain as
evidence of title an AL T A Commitment for an Owne(s Title Insurance Policy
(ALTA Fonn B-1970) covenng the Property, together with hard copies of all
exceptions shown thereon. If the title commitment discloses any defects
affecting the insurability or marketability of the Property, other than liens
evidencing monetary obligations to be paid at closing, and Which are not
acceptable to Purchaser ("Title Defects"), Purchaser shall have thirty (30)
days, following receipt of the title insurance commitment. to notify Seller in
writing of its objection to title.
4.012 Upon notification of Purchaser's objection to title. Seller shall have thirty
(30) days to remedy any Title Defects, except for liens or monetary obligations
which will be satisfied at Closing. Seller, at its sole expense. shall use its best
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Agenda Item No. 1681
November 18, 2008
Page 7 of 26
efforts to make such title good and marketable, In the event Seller is unable to
cure said objections within said time period, Purchaser, by providing written
notice to Seller within seven (7) days after expiration of said thirty (30) day
period, may either: (a) accept title as it then is. waiving any objection; (b)
extend the amount of time Seller has to remove the Tille Defects; (c) accept
the title as it is with a mutually agreed-upon reduction in the Purchase Price;
or (d) terminate the Agreement. A failure by Purchaser to give written notice of
its election within the time period provided herein shall be deemed to be a
waiver of the Tnle Defects and acceptance of title.
4,013 Seller agrees to furnish any existing surveys of the Property in Seller's
possession to Purchaser within 10 (ten) days of the effective date of thi8
Agreement. Purchaser shall have the option, at its own expense, to obtain a
current survey of the Property prepared by a surveyor licensed by the State of
Florida. If the Purchase Price is based on a total acreage amount set forth in
Exhibit "A," and a survey reveals a difference in total acreage in excess of 5%
of the overall acreage, the Purchase Price shall re-calculated based on the
actual acreage as revealed by the survey, If the survey provided by Seller or
obtained by Purchaser. as certified by a registered Florida surveyor, shows:
(a) an encroachment onto the property; or (b) that an improvement located on
the Property projects onto lands of others. or (c) lack of legal access to a
public roadway (hereinafter Title Defects"), the Purchaser shall notify the
Seller in writing of such encroachment. projection, or lack of legal access. and
Seller shall have the option of curing said Title Defect within sixty (60) days of
receipt of said written notice from Purchaser. Purchaser shall have ninety (90)
days from the effective date of this Agreement to notify Seller of any such
objections. If Seller is unable or elects not to cure the Title Defects within this
time period, Seller shall notify Purchaser in writing. After receipt of such
notice, Purchaser may accept the Property as it is, waiving any objection
hereunder. or terminate the Agreement. Purchaser will notify Seller of its
election in writing and within seven (7) days, A failure by Purchaser to give
written notice of termination as provided herein shall be deemed an election by
Purchaser to accept the Property as it is.
V, INSPECTION PERIOD
5,01 Purchaser shall have ninety days (90) days from the date of this Agreement.
("'Inspection Period"). to determine through appropriate investigation that:
1. Soil tests and engineering studies Indicate that the Property can be developed
without any abnormal demucking. soil stabilization or foundations.
2. There are no abnormal or excessive drainage or environmental requirements to
the development of the Property
3. The Property is in compliance with all applicable State and Federal
environmental laws and the Property is free from any pollution or
contamination.
4. The Property can be utilized for its intended purpose.
5.02 If Purchaser is not satisfied, for any reason whatsoever, with the results of
any investigation. Purchaser shall deliver to Seller prior to the expiration of the
Inspection Period. written notice of its intention to terminate this Agreement.
without penalty If Purchaser fails to notify the Seller in writing within the
Inspection Period. it shall be deemed that the Purchaser IS satisfied with the
results of its investigations and the contingencies of this Article V shall be deemed
waived.
5.03 Purchaser and its agents, employees and servants. at the" own risk and
expense, shall have the right to go upon the Property for the purpose of surveying
and conducting site anaiyses, soil borings and all other necessary investigation
and physical Inspection. Seller shall be notified by Purchaser of any such
investigations or tests no less than forty-eight (48) hours prior to any inspection of
the Property.
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Agenda Item No. 16G 1
November 18, 2008
Page 8 of 26
VI. POSSESSION
6.01 Purchaser shall be entitled to full possession of the Property at Closing.
VII-APPRAISAL PERIOD
7.01 Purchaser shall have sixty (60) days from the date of this Agreement
(Appraisal Period), to obtain the required appraisal(s) in order to determine
the value of the Property pursuant to the requirements of Florida statutues
125.355.
7.02 If Purchaser is not satisfied, for any reason whatsoever. with the results of
the independent appraisal(s), Purchaser shall deliver to the Seller within
thirty (30) days from the expiration of the Appraisal Period, written notice of
its intention to waive the applicable contingencies or to terminate this
Agreement. If Purchaser fails to notify the Seller in writing of its specific
objections as provided, herein. ~ shall be deemed that the Purchaser is
satisfied with the results of its investigation and the contingencies of this
Article VII shall be deemed waived. In the event the Purchaser elects to
terminate this Agreement copies of the appraisal reports shall be furnished
to the Seller.
VIII. RISK OF LOSS AND CONDITION OF PROPERTY
8.01 Seller assumes all risk of loss or damage to the Property prior to Closing and
warrants that the Property shall be transferred and conveyed to Purchaser in the
same or essentially the same condition as of the Effective Date of this Agreement.
ordinary wear and tear excepted. If the condttion of the Property is attered by an
act of God or other natural force beyond the control of Seller. or by the intentional
or negligent acts of third parties, Purchaser may elect to terminate this
Agreement, in which event netther party shall thereafter have any further
obligations under this Agreement.
IX. TERMINATION AND REMEDIES
9.01 If Seller shall have failed to perform any of the covenants and/or agreements
contained herein which are to be performed by Seller, within ten (10) days of
written notification of such failure, Purchaser may, at its option, terminate this
Agreement by giving written notice of termination to Seller. Purchaser shall have
the right to seek and enforce all rights and remedies available at law or in equity
to a contract vendee. including the right to seek specific performance of this
Agreement.
9.02 If the Purchaser has not terminated this Agreement pursuant to any of the
proviSions authorizing such termination, and Purchaser fails to close the
transaction contemplated hereby or otherwise fails to perform any of the terms.
covenants and condttions of this Agreement a8 required on the part of Purchaser
to be performed. provided Seller is not in defautt. then as Seller's sole remedy.
Seller shall have the right to terminate and cancel this Agreement by giving written
notice thereof to Purchaser, whereupon one percent (1 'Yo) of the Purchase Price
shall be paid to Seller as liquidated damages which shall be Seller's sole and
exclusive remedy, and neither party shall have any further liability or obligation to
the other except as set forth in paragraph 12.01, (Real Estate Brokers), hereof.
The parties acknowledge and agree that Seller's actual damages in the event of
Purchaser's defautt are uncertain in amount and difficutt to ascertain, and that
said amount of liquidated damages was reasonably determined by mutual
agreement between the parties. and said sum was not intended to be a penalty.
9.03 The parties acknowledge that the remedies described herein and in the
other provisions of this Agreement provide mlrtllally satisfactory and sufficient
,
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Agenda Item No. 16G 1
November 18, 2008
Page 9 of 26
remedies to each of the parties, and take into account the peculiar risks and
expenses of each of the parties.
9.04 Should any litigation or other action be commenced between the parties
concerning the Property or this Agreement, the part prevailing in such litigation or
other action shall be entitled. in addition to such relief as may be granted, to a
reasonable sum for its attorney's fees, paralegal charges and all fees and costs for
appellate proceedings in such litigation or other action; which sum may be
determined by the court or in a separate action brought for that purpose.
x. SELLER'S REPRESENTATIONS AND WARRANTIES
10.01 Seller intends for Purchaser to rely on the following representations and
hereby warrants the performance and accuracy of these representations:
10.011 Seller has full right, power, and authority to own and operate the
Property, and to execute, deliver, and perform its obligations under this
Agreement and the instruments executed in connection herewith, and to
consummate the transaction contemplated hereby. All necessary
authorizations and approvals have been obtained by Seller certified copies of
such approvals shall be delivered to Purchaser at Closing, it requested.
10.012 Seller represents that it has no knowledge of any actions. suits, claims.
proceedings, litigation or investigations pending or threatened against Seller.
at law, equity or in arbitration before or by any federal, stale, municipal or other
governmental instrumentality that reiate to this agreement or any other
property that could, it continued. adversely affect Selle~s ability to sell the
Property to Purchaser according to the terms of this Agreement.
10.013 No party or person other than Purchaser has any right or option to
acquire the Property or any portion thereof.
10.014 Until Closing, so long as this Agreement remains in force and effect.
Seller shall not encumber or convey any portion of the Property or any rights
therein, nor enter into any agreements granting any person or entity any rights
with respect to the Property or any part thereof, without first obtaining the
written consent of Purchaser. which consent may be withheld by Purchaser for
any reason whatsoever.
10.015 Seller represents that there are no Incinerators. septic tanks or
cesspools on the Property; all waste, if any, is discharged into a public sanitary
sewer system; Seller represents that they have (il has) no knowledge that any
pollutants are or have been discharged from the Property, directly or indirectly
into any body of water. Seller represents the Property has not been used for
the production, handling, storage, transportation, manufacture or disposal of
hazardous or toxic substances or wastes, as such tenns are defined in
applicable laws and regulations, or any other activity that would have toxic
results, and no such hazardous or toxic substances are currently used in
connection with the operation of Ihe Property, and there is no proceeding or
inquiry by any authority with respectlhereto. Seller represents that they have
(it has) no knowledge that there is ground water contamination on Ihe Property
or potential of ground water contamination from neighboring properties. Seller
represents no storage tanks for gasoline or any other substances are or were
located on the ?lOperty at any time during or prior to Seller's ownership
thereof. Seller represents none of the Property has been used as a sanitary
landfill.
10.016 Seller has no knowledge that the Property and Selle~s operations
concerning Ihe Property are in violation of any applicable Federal, State or
local statute, law or regulation, or of any notice from any governmental body
has been served upon Seller claiming any violation of any law. ordinance.
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Agenda Item No. 16G1
November 18, 2008
Page 10 of 26
code or regulation or requiring or calling attention to the need for any work,
repairs, construction, alterations or installation on or in connection with the
Property in order to comply with any laws, ordinances, codes or regulations.
10.017 There are no unrecorded restrictions, easements or rights of way
(other than existing zoning regulations) that restrict or affect the use of the
Property, and there are no maintenance, construction, advertising,
management, leasing, employment, service or other contracts affecting the
Property.
10.018 Seller has no knOwledge that there are any suits, actions or arMration,
bond issuances or proposals therefor, proposals for public improvement
assessments, pay-back agreements, paving agreements, road expansion or
improvement agreements, utility moratoriums, use moratoriums, improvement
moratoriums, administrative or other proceedings or govemmental
investigations or requirements, formal or informal, existing or pending or
threatened which affect the Property or which could resutt in a charge or
expense upon or reiated to the Property which has not been disciosed to
Purchaser in writing prior to the effective date of this Agreement.
10.019 Seller acknowledges and agrees that Purchaser is entering into this
Agreement based upon Seller's representations stated herein and on the
underntanding that Seller will not cause the zoning or physical condition of the
Property to change from its existing slate on the Effective Date up to and
including the Date of Closing. Therefore, Seller agrees not to enter into any
contracts or agreements pertaining to or affecting the Property and not to do
any act or omit to perform any act which would change the zoning or physical
condition of the Property or the governmental ordinances or laws governing
same. Seller also agrees to notify Purchaser promptly of any change in the
facts contained in the foregoing representations and of any notice or proposed
change in the zoning, or any other action or notice, that may be proposed or
promulgated by any third parties or any governmental authorities having
jurisdiction of the development of the property which may restrict or change
any other condition of the Property.
10.020 Seller represents. warrants and agrees to indemnify, reimburse, defend
and hold Purchaser harmless from any and all costs (including attorney's fees)
asserted against, imposed on or incurred by Purchaser, directly or indirectly,
pursuant to or in connection with the application of any federal, 8tate. local or
common law relating to pollution or protection of the environment which shall
be in accordance with, but not limited to, the Comprehensive Environmental
Response, Compensation, and liability Act of 1980, 42 U.S.C. Section 9601,
et seq., ("CERCLA" or "Superfund"), which was amended and upgraded by the
Superfund Amendment and Reauthorization Act of 1986 ("SARA"), including
any amendments or successor in function to these acts. This provision and
the rights of Purchaser, hereunder, shall survive Closing and are not deemed
satisfied by conveyance of title.
10.021 Seller is not presently the subject of a pending. threatened or
contemplated bankruptcy proceeding.
10.02 The warranties set forth in this Article are true as of the Effective Date
of this Agreement and as of the date of Closing. Purchaser's acceptance of
a deed to the Property shall not be deemed to be full performance and
discharge of every agreement and obligation on the part of the Seller
contained in this Agreement
10.03 At the Closing. Seller shall deliver to Purchaser a sworn statement
reasserting these representations as of the Date of Closing.
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Agenda Item No. 16G1
November 18, 2008
Page 110126
XI NOTICES
11.01 Any notice, request, demand, instruction or other communication to be
given to either party hereunder shall be in writing and sent by facsimile
transmission, hand delivered or by registered, or certified mail, return receipt
requested, postage prepaid. addressed as follows:
If to Purchaser:
Collier County Redevelopment Agency
Bayshore/Gateway Triangle
clo 4069 Bayshore Drive
Naples. FI34112
Wrth a copy to:
Jeff Klatzkow, County Attorney
Office of the County Attorney
Harmon T umer Building
3301 Tamimai Trail East
Naples. FI34112
If to Seller.
Florida Real Estate Services Inc.
7030 sugar Magnolia Circle
Naples, FI 34109
With a copy to:
11.02 The information in Section 11.01 may be changed by erther party by giving
written notice of such change to the other party in the manner provided herein.
Any such change will not be effective unless and until written notice is given in
accordance with this Article.
11.03 Any communication shall be deemed to be given rt addressed in
accordance wrth Section 11.01 and upon actual receipt in the case of hand
delivery or facsimile transmission or three (3) business days after depositing the
communication in a letter box or delivering into the possession of the Untted
States Postal Service. Any transmission which is received after 5:00 p.m. EST
(or Daylight's Savings Time, as applicable) shall be deemed given on the following
business day.
XII REAL ESTATE BROKERS
12.01 Any and all brokerage commissions or lees shall be the sole responsibility
of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from
and against any claim or liability for commission or fees to any broker or any other
person or party claiming to have been engaged by Seller as a real estate broker.
salesman or representative, in connection wtth this Agreement. Seller agrees to
pay any and all commissions or fees at closing pursuant to the terms of a
separate agreement, if any.
XIII MISCELLANEOUS
13.01 This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties
,)"
:',cc'
Agenda Item No. 1681
November 18. 2008
Page 12 of 26
13.02 This Agreement will be effective as of the date this Agreement is executed
by the last signing party and shall inure to the benef~ of and be binding upon the
parties hereto and their respective heirs, executors, personal representatives,
successors, successor trustee, and assignees whenever the context so requires
or admits.
13.03 Any amendment to this Agreement shall not bind any of the parties hereof
unless such amendment is in writing and executed and dated by Purchaser and
Seller.
13.04 Captions and section headings contained in this Agreement are for
convenience and reference only; in no way do they define, describe. extend or
limn the scope or intent of this Agreement or any provisions hereof.
13.05 No waiver of any provision of this Agreement shall be effective unless n is in
writing signed by the party against whom n 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 warver as to any other provision.
13.06 If any date specified in this Agreement falls on a Saturday, Sunday or legal
holiday, then the date to which such reference is made shall be extended to the
next succeeding business day.
13.07 Seller is aware of and understands that the "offer" to purchase represented
by this Agreement is subject to acceptance and approval by the Community
Redevelopment Agency. Consequently Seller agrees that this offer is irrevocable
and will remain open until November 18. 2008.
13.08 If the Seller holds the Property in the fonn of a partnership, limrted
partnership, corporation. trust or any fonn of representative capacity whatsoever
for others, Seller shall execute a public disclosure affidavit prior to Closing, which
shall identify every person having a beneficial interest in the Property. in
accordance with s. 286.23. Fla. Stal..
13.09 This Agreement is governed and construed in accordance with the laws of
the State of Florida.
13.10 This Agreement and the exhibits attached hereto contain the entire
agreement between the parties, and no promise, representation, warranty or
covenant not included in this Agreement or any such referenced agreements has
been or is being relied upon by erther party. The recnals are true and are
incorporated herein and made a part of this Agreement.
13.11 TIME IS OF THE ESSENCE in this Agreement.
u
fi-
Agenda Item No. 16G1
November 18, 2008
Page 13 of 26
EXHIBIT "A"
Lot 89 & 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.
Folio Identification # 53352880006
Folio Identification # 53352920005
\~'""
AS TO SELLER:
DATED: 10- /(1-0'3
(Printed Name)
~~ Jlo.wC/\
(~ature . .
ildt~ ~ 4f~Jo.,
(Printed Na e) .
AS TO PURCHASER:
DATED:
ATTEST:
DWIGHT E. BROCK, Clerk
, Deputy Clerk
Approved as to form and
legal 8ufficiency:
~si~n-t UrO
Assistant County Attorney
/"/\
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U
Agenda Item No. 16G1
November 18, 2008
Page 14 of 26
BY /~-
/' /.-;; ,
ilf{I~1--
Robert Garcia, Registered agent of
Florida Real Estate Ser\lices Inc.
,; 0. I.-,Ui.y..t:r?c,A t!..v...l .t;;:>+4f2- };(O K.D/
',,,,, -r1...L- 5.-t-o..~.. I~:P Flo,f\[Au"
.~!I~/
BY:
Printed Name
COLLIER COUNTY COMMUNITY
REDEVLOPMENT AGENCY
BY:
DONNA FIALA. Chairman
:j)
r
ty
I\;
Agenda I lIa",N(iQ200ll\J'8ae #11
November 18, 2008
Page 15 of 26
FROM:
INVOICE
Integra Realty Resources Naples Inc.
4795 Enterprise Avenue
Naples. FL 34104
James 6. Kerr, Jr., St.Cert.Res.REA #0000820
Telephone Number: 239.643.6888 Fax Number: 239.643.6871
. ,. .~Ib INVOICE NUMBER
R.12564
DATE',...", .,.',,, "'.'., .
'".,-....,..'....:
"~;:.\;'i;ty;:;.,~'
September 26. 2008
REFERENCE", .
TO:
Telephone Number: 239.213.5847
Attemate Number: 239.775-4456
Fax Number:
E-Mail:
Internal Order #:
Lender Case #:
Client File #:
Main Fi~ # on form: 12564
Other File # on form: 4500097656
FederalTaxlD:
Employer 10:
Finance Department
Board of County Commissioners
P.O.60x413016
Naples. FL 34101
Attn: Jean Jourdan
Client: Board of County Commissioners
lender: Board of County Commissioners
Purchaser/Borrower: Collier County Board of County Commissioners
Property Address: 3029 Lunar Street
City: Naples
County: Collier
LegalOescription: Lake Kelly, Unit 2. Lot 90; PID #53352920005
State: FL
Zip: 34112
AMOUNT
Full Appraisal/Land Form
350.00
SUBTOTAL 350.00
PAYMENTS AMOUNT ..
Check #: Date: Description:
Check #: Date: Description:
Check #: Date: Description:
SUBTOTAL
TOTAL DUE S 350.00
Integra Really Resources Southwest Florida
Form NIV3 - "TOTAL for Windows" appraisal software by a I' mode, mc. - 1.800.AlAMODE
LAND APPRAISAL REPORT
~~~rl~~~~#No. 1681
>~tl~ember 18, 2008
60f26
Aonralsal--Summarv ADD,..Ic!"1 R..nnrt__~.... ~,.nn.. I=n. lIeOll; & User FileNo. 1
Borrower Collier County Board of County Commissioners Census Tract 107.01 Map Reference 14-50-25 ,dU~
Property Address 3029 Lunar Street
City Naoles County Collier State FL Zip Code 34112
Legal Description Lake Kellv. Unit 2 Lot 90; PIO #53352920005
Sale Price $ NfA Daleoi Sale NfA LoanTermNIA yrs. Pmperty Rights Appraised ~Fee o Leasehold DOeMinimisPU
Actual Real Estate Taxes $ 804r07 I,r) Loan charges 10 be paid by seller $ Unkwn. Other sales concessions Unknown
Lender/Client Board of County Commissioners Address P.O, 8ox413016. Naples, FL 34101
Occupanl Vacant site Appraiser James S. Kerr Jr. Instructions to Appraiser Estimate Market Value. This aooraisa! is intended
for the use bv the Collier County Board of County Commissioners for iand acauisition pur oses and no other use or user(s is allowed.
Location Wurban .~ ~Uburban ~Rural Good Avg. Fair Poor
BumUp ~ Over 75% :J 25% to 75% DUnder25% EmploymentStabiHty D 121 D D
Growth Rate DFullyDev. DRapid :sJSleady DSlow Convenience to Empioyment D 121 0 D
flropertyValues o Increasing 'OS.ble l8JOeclining Convenience to Shopping D 121 D D
Demand/Supply [] Shortage ::J In Balance l8J Oversupply Convenience to Schools D 121 D D
MarketingTIITle DUnder3Mos :J 4-6 Mos. [S] Over 6 Mos. Adequacy 01 Public Transportabon D 121 0 D
flresenlLandUse ~% 1 Family ~% 2-4 Family ~% Apts. ----.1Q% Condo----.2% Commercial RecrealionalFaciHlies E ~ ~ 8
% Industrial 1%VacarJI % Adequacy 01 UtlJlies I I
Change in Present Laf'ld Use [S]NolLikely ~OLikely(*) [JTakingPlace(*l Property Compatibility C 121 D D
(*)From To Protectionlrom Detrimental Condrtions j- 121 D D
PredommantOccupancy ~Dwner UTenant ~%Vacant Police and FireProlection n :g D D
LJ
Single Family Price Range $ 85000 to$ 400.000 Predominant Value $ 130000 General Appearance 01 Properties n :g D D
,-
Single Family Age Newyrs,to~yrs. Predominant Age 35yrs. Appeal to Marke1 D 121 D 0
Comments including those factors. favorable or uniavorable, affecting marketability (e.g. pubijc parks, schools, view, noise):Lake Kellv is a mobile home subdivision
Located 2 miles SE of downtown Naoles and oubllc beaches and 1 mile S off of US 41. Averaoe access to shonninn and sunnnrtinn services.
There Is no orevalence of sales or flnancino concessions in the area. Tvoical conventional flnancino is available at comnetitive rates: however, II
has become more dffficult for borrowers to oualrtv for home loans. ._continued on attached addendum..
Oimensions 40.30 x 100 4030 Sq. FtorAcres LJ ComerLnt
Zoningclassilicaton MH-BMUD-R3 Mobile Home-SF Residential flresentimprovements [SJdo ~donotconformtozoningreguiations
Highest and best use [2JPresentuse I; Other IsneciM
Public Ott1er ~escrlbe) : . OfF SITE IMPROVEMENTS . ,1i"O La,al
Elec. :g] . Street Access l8J PubliC 0 Private Size Averaae
Gas [] : Surtace Asphalt Shape Rectanoular
Water C8J i Maintenance :SJ PubliC [J Private IVlew Averaae
San. Sewer l8J lt1 Storm Sewer C Curb/Gorter j Drainage Aooears adeauate
o Underground Elect, & Tel. Sidewalk i: Street Liohts lis the property located In a HUD Identlfled 5per:1a1 Flood Hazard Area? ~No[8JYes
Comments ~a~orable or unfa~orable including any apparent adverse easements, encroachments. or other adverse condnions): No annarent adverse easements
encroachments, etc_ noted_ The subiect site is cleared, Flood Man #12021C0582G - 11/17/2005 - Zone AE
Too undersigned has reciled three recent sales of properties mosl similar and proximate to subject and has considered !nese in the market analysis, The descrrption includes a dOllar
adjustment reflecMg market reaction to those items of significant vanabon between the subject and comparable prooerties, II a Significant nem in lt1e comparable property is superior
to or more tavorable lt1an the subject property, a minus (-) adjustment is made thus reducing the indicated value of subject; il il signilicanl item in the comparable is infenor to or less
favorable than ttJe sUbJectproperty,a plus (+) adjustmenlis made thus increasing the indicated value 01 the subject
ITEM SUBJECT PROPERTY COMPARABLENO_1 COMPARABLE NO, 2 COMPARABLE NO.3
Address 3029 Lunar Street 2743(?) Secca Avenue 3072 Woodside Avenue 3071 Andrews Avenue
Nanles FL 34112 Na les FL 34113 Naoles. FL 34113 Naoles FL34113
Prmamitvlo Subiec! ..... .5m,N/L39&40,Rebecca Weeks 1 Hallendale 1 m,S/L-64, Hallendale
Sa~s Price NIA ".' .:.:' 1$ 100000 ,..""'''0 II 50000 .:.- II 50000
PricePerSo.Ft. $ ! '0 $ 6.77 ,'.i'" ,'. II 7_14 . ..i....!'. I. 7.14
Data Source ClienUcountv MLS/OR 4380-1662 MLS/OR 4355.4160 MLS/OR 4355-4173
Date 01 Sale and DESCRIPTION DESCRIPTION +(-1$ Must. DESCRIPTION +1-1$ Ad'ust OESCRIPllON 1+ -'!\;Adust.
Time Adjustment NIA 7-08 CD 5-08 CD 5-08 CD
Location Averaae Averaae Averane Averane
SiI1>Mew 4030sflaveraoe 14,770sf/avqJ2Iats -55.000 7000sflaverane -7,500 7.000sf/avera e -7500
Tononranhv Cleared Cieared lndinenous nrowth 2,500 Indinenous rowth 2500
Sales or Financing NIA Cash/equivalent Cash/equivaienl Cash/equivalent
ConcessIOns
NetAdi.lTotal "'l + IX- :$ 55,000 I + IX- I 5.000 !-,+ 'XI_ :$ 5,000
IndicaledValue IH\.iit\~!..o/!.. }/N~550 % 1$ 1'>o/~;I\hri~!:11 :":. ':','<J,
01 Subject 45,000 45,000 '..: I 45,000
Comments on Market Data: All the com s are recent sales nearb and the aresu ortive. Com #1 is the sale of two lots. Com s #2 & #3 are
sales of sinoie lots, All the comas are lamer sites. All the sales are aiven equal weiaht.
--- -..- --
Comments and Conditions 01 Appraisal: See attached Certification and Limitinq Conditions, No survey was orovided to the appraiser
Sales historv- The sub'ect last soid 8/24/2004 for $70,000, No sales of the sub'ect in the ast 36 months_ The subiect is currentlv listed for sale
at $125,000, No sales of the comns in the nast 12 months. No known current listinos of the comos.
Final Reconciliation The Direct Saies Camnarison Annroach is the only apolicable approach in the valuation of a vacant residential site
I ESTIMATE THE MARIET VALUE, AS DEFINED, OF SUBJECT PROPERTY AS OF Seotember 27_ 2008 - tnhP.$ 45,000
~igned~Hlb6JQ. 2008
- . ItIi<.OOD 0
\Ji!mes B. Kerr, Jr DOid C!DidNoIPhysicallylnspectProperty
Appraiser(s) Review Aopraiser ftf apolicable)
~2K]
Integra ReaJtyResources SoulhwestFlorida
Form LNO ~ 'TOTAL lor Windows" appraisal software by a la mode, inc. - 1-BOO-ALAMDDE
Supplemental Addendum
FileNo
.!Igrl\'n'~4If~I11#i\io. 1681
12564 , r 18, 2008
e 17 of 26
BorrowerlClienl Collier Count Board of Count
Pro crt Address 3029 Lunar Street
Crt Na les Cou
Lender Board of Count Commissioners
Commissioners
Collier
State FL
Zi Code 34112
Neiqhborhood . Comments (continued):
Currently, there is an over supply of lots for sale and demand has been weak. Marketing time for properly priced properties is
approximately 6 months.
Pricing in the Southwest Florida market, as well as the general area, has declined substantially over the past two years. There
are signs that this decline has slowed if nol slopped. In some areas, market pricing has leveled off and activity appears 10 be
increasing, based on the most recent market reports.
form TADD - "TOTAL for Windows" appraisal software by a la mace. mc_ -1-800-ALAMODE
jlg~n'~4IfElil"'~O. 1681
November 18, 2008
Page 18 of 26
DEFINITION OF MARKET VALUE: The roost probable price which a property should bring in a competitive and open market under all conditions
requisite to a jair sale, the buyer and seller, each acting prudenlly, knowledgeabry and assuming the price Is rull affected by undue stimulus. Implicn in this
definition is the consummation of a sale as of a specified dale and the passing ollitle from selJerto buyer under conditions whereby: (1) buyer and seller are
typically motivated; (2) both parties are well informed or well advised, and each actillJ in what he considers his own best interest: (3) a reasonable time is allowed
for exposure in the apen market; (4) paymem is made in terms of cash in U,S. dol~rs or in tenns oj financial arrangements comparable thereto; and (5) the price
represellls the normal consideration lor the property sold unaffected by special or creative financing or saies concessions. granted by anyone associated with
the sale,
* Adjustments to the comparables must be made for special or creative financin{l or saies concessions. No adjustments are necessary
for tOOse costs which are normally paid by sellers as a resutt of tradition or law in a market area; these costs are readily identitiable
since the seller pays these costs in virtually all sales transactions Special or creative financing adjustments can be made to the
comparable property by comparisons to financing terms offered by a third party institLrtionallender that IS not already involved in Ire
property or transaction Arr; adjustment should not be calculated on a mechanical dollar tor dol~r cost of the financing or concession
but the dollar amount of any adjustmerJt should approximate the market's reaction to the financing or concessions based on the
appraiser's judgement.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to till Mowing
conditions:
1. The appraiser will not be responsible tor matters ot a iegal nature that affect eit!lerthe property being appraised or the tiDe to it. The appraiser assumes that
thetitie is good and mar1<etable and, therefore, will not render any opinions aboLrtthe title. The property is appraised on the basis of it being under responsible
ownership
2. Too appraiser has provided a sketch in the appraisal report 10 show approximate dimensions of the improvemerrts and the sketch is included only to assist
the reader of the report in visualizing the property and understanding Ih e appraiser's determination of its size.
3. The appraiser has examined the availabre flood maps that are provided tly the Federal Emergency ManagelTlllnt Agency (or other data sources) and has noted
in the appraisal report whether the subject site Is located in an identified Special Flood Hazard Area Because the appraiser is ont a surveyor, he or she makes
no guarantees, express or implied, regarding this determination.
4, The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do
so have been made beforehand.
5. The appraiser has estimated the vaiue of the land in the cost approach at lis highest and tlest use and the improvements at their contributory value. These
separate valuations of the land aM improvements must not be used in conjunction with any other appraisal and are invaiid if they are so used.
6_ The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation. the presence of hazardous wastes, toxic
substances, etc,) observoo during the inspection of the subject property or that he or she became aware of during the normal research involved in performirlg
the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent cond~ions of the property or
adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuabie, and
has assumed that there are no such conditions aoo makes no guarantees or warranties, express or implied, regarding tt-E condition 01 the property. The
appraiser will not be responsible lor any such cond~ions that do exist or for any engineeriOll or testing that migtrt be required to discover whether such
condrtions exist. Because the appraiser is not an expert in the field of environmental hazards. the appraisal report must not tle considered as an
environmental assessment otthe property
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be
reliable arm believes them to be true aM correct. The appraiser does not assume responsibilrty for the acclJfacy of such [ems that were furnished by other
parties
The appraiser will not disclose the contents ot fhe appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice
9 Th€ appraiser has based his or her appraisal report and valuation conclusion tor an appraisal that is subject to salislactory completion, repairs, or
alterations on the assumption that completion of the improvements will be performed in a workmanlike manner
10. The appraiser must provide his or her prior written consent tletore the lender/client specified in the appraisal report can distribute the appraisal report
(inciuding conciusions about the property value, the appraiser's identity and protessional designations, and reierences to any professional appraisal
organizations or the firm with which the appraiser is associated) to anyone other than the borrower: the mortgagee or its successors and assigns; the mortgage
insurer; cOrlsu~ants: professional appraisal organizations: any state or federaliy approved financial institution: or any department, agerlcy, or instrumentality
of the United Slates or any state or the District at Columbia; except that the lender/client may distribute the property description section ot the report only to data
collection or reporting ser..ice(s) without having to obtain the appraiser's prior written consent The appraiser's written consent and approval must also
be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media,
Freddie Mac Form 4396.93
Page1of2
FarlllieMae Form 1004B 6-93
integra ReartyResources Sou!l1westFlorida
Form ACR - "TOTAL for Windows' appraisal software by a la mode, inc. --1.800.ALAMDDE
~g'lMJ~4If~'IllI\l0 16G 1
November 18. 2008
Page 19 of 26
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that
1. I have researched the subject market area and have selected a minimum of three recent sa~s of properties most similar ami proximate to fhe subject property
tor consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those ilems 01 significant
variaton. If a signnicant ilem in a comparable property is superior to, or more favorable than. the sUb,lect property, I have made a negative adjustmem to reduce
the adjusted sales price 01 the comparable and, ii a significant item in a comparable property is illferior 10, 01 less tavarable than the subject properly, I have made
apositiveadjustmerrttoincreaselheadjuSled sales price oi the comparable.
2. I have taken irrto consideration the factors thaI have an impact on value in my developmem ot the estimate of market value in the appraisal report I have not
knowingly withheld any Significant information from the appraisal re;lOrt and I believe, 10 the best of my knowfooge, that all statements and intormation in the
appraisal report are true and correct.
3. I stated in the appraisal report only my own personal. unbiased, and professional analysis, opinions, and conclusions, which are subject onl~ LU lilt @11111I~1I1
and limifing condrtions specilied in this lorm
4. I have no present or prospective interest in the property that IS the subject to this report, and I have I)() presenl or prospective personal interest or bias with
respect to the participants in the transaction, I did not base, either partially or complete~, my analYSIS and/or the estimate of marKet value in the appraisai report
ontre race, color, religion, sex, handicap, familial status, or national origin 01 eifherfhe prospective owners or occupants ot the subject property or of the preserrt
owners or occupants of the properties in the vicinity ot the subject prop erty
5 I have no present or contempiated Mure interest in the sublect property. and neither my current or Mure employment nor my compensation for performing this
appraisal is contingent on the appraised value of the property
6. I was not required to report a predetermined vaiue or direction in vaiue thatfaVDrs the cause of the client or any reiated party, the amount 01 the value esfimate,
the attainment ot a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I
did not base the appraisal report on a requested minimum valuation, a SpBcific valuation, or the need to app rove a specific mortgalle loan.
7. I performed this appraisal in conformity with tile Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal
Standards Board at The Appraisal Foundation and mat were in place as of the effectiw date of this appraisal, with fhe exception of the depanure provision of those
Standards, which does not apply. I acknowledge tI1at an est mate of a reasonable ~me for exposure in the open market is a condifion in the definition of markef value
and the estimate I developed is consistent with the marketing time noted in the neighborhood section oj this report, unless I have otherwise staled in the
recanciliationsection.
8 I have personallyinspecte<l the interior and exterior areas of the subleet property and the exterior 01 all properties listed as comparables in the appraisal report.
I further certify that I have noted any apparent or known adwrse condnions in the sUblect improvements, on the sublect site. or on any site within the immediate
vicinny of the subject property of which I am aware and have made adjustments for these adverse conditions in my anaiysis of the properly value to the extenf that
I had market evidence to support them. I have also commented about the effect of fhe adverse conditions on the marketability of the subject property
9. I per50nally prepared all conclusions anc opinions about the real estate thaf were sel forth in lhe appraisal report. If I relied on significant professional
assist:mce trom any individual or individuais in the performance of the appraisal 0: the preparation of the appraisal report, I have named such individual(s) and
disclosed the specific tasks performed by fhem in the reconciliation section of this appraisal report. I certify that any individual so named is qualrried to perform
the tasks. I have nof authorized anyone to make a change to any item in the report therefore, if an unauthorized change is made to the appraisal report. I wilt laKe
no responsibility forrt.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that
I directiy supervise the appraiser who prepared the appraisai report, have reviewed the appraisal report, agree witl1the statements and conclusions of the appraiser,
agree to be bound by tI1e appraiser's certrrications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the a ppraisaireport
ADDRESS OF PROPERTY APPRAISED:
3029 Lunar Street Naples. FL 34112
APPRAISER:
~ tJ ~ .
r . ,!,
Signature: " :,:'~ 1 . /0/... / c
Name: Ja~es B. Kerr, Jr
Date Signed' September 3D. 2008
Stale Certification #. St.Cert.Res.REA #0000820
or Slate License #
State: FL
Expiration Date 01 Certillcation or License 11/30/2008
SUPERVISORY APPRAISER (only il required):
Signature
Name
Date Signed'
State Certijication #
or State License #
State.
Expiration Dafe 01 Certilication or License
'Did -] Did Not InspeCl Property
Freddie Mac Form 4396.93
Page2012
fannie Mae Form 1004B 6-93
Form ACR - "TOTAL for Windows" appraisal sottware by a la mode, i~c. - 1-800-ALAMODE
Scope Addendum
~g'1!n'iJj'j4If~11lf\Jo. 16G1
November 18, 2008
20 of 26
Borrower Gien! Collier County Board of County Commissioners
Pronertv Address 3029 Lunar Street
Gilv Na las COlmtv Collier
Lender Board of County Commissioners
State FL
Zi Code 34112
The Scope of the Appraisal
Tht scope of the appraisal j~ to "describe the cxtCI1l of the process of collecling. confirming and reponing data~
I()T the appraisal report.
llllhis regard. 1he SIlOjccl prupt:rty was physically inspected and ule photographs wert~ laken
Current marke1 sales activity is analy'zed. Unless llccessitmed by lIlllrkc\ conditions. sales transactions nmging
from Olle to six montlls ~'5ix lu twenty-four months when the quantit)' and qUlllity of' the dat<l is limited), localed
within one mile of the suhject propcny(nnc to rwem)' miles when the qUHmity anu qUHlilY of the uata is limited)
and considered the most similar cumparab1e, available llTt compiled from alld collfirm['{j with the local multiple
1istin~ service the county propeny appraisers office, the Marshall & Swifl CO~l guides and./or local building
contractors, andlor lhe !'myer(s) ,md/or sdkr(fi) of properties.
After assembling and analYling the dala defined in t.hi~ scope of the appraisal, a filial estimale uf mmkct value is
madt' by n::cnnciling the applicahle approaches {COSI, income and/or markc!} to vulue.
Per the client, the fact thaI the propeny being appraised is to be acquired for a roadway extrnsioll and the impact
011 market value thlll this aClion mit)' have is to be ignored. The pmperl)" is to he ~ppr~is{"{\ as if no ]')Cnding
acquisllionIS immll1CllL
The Purpose, Function, Intended Use and Intended (Tscr(s) of the Appraisal
The purpose of mi~ appr:dsal is to estlmate the mar~et value of lh~ subjcu property as defined wilhin Ibis TI;,porL
The function of this appraisal is to assist Ihc client in the acquisition of n::sidL'miaJ re-a[ estate for future
communily dc\'dopment projects,
The intended use of this appraisal is 10 assist lhc clll:nl in UIl: acqLLisition of residential reai eSUllC for future
communilydcvc1opmcmpwjecls
The inlended userls) of this appraisal is [he Collier Coumy Board of Coonry COlT\missJOnen :ind ils as~igm
An..... other users) tJr uscnsi i~ prohibited
Highest and Best Use
A. ddincd in ~Thc Dictinnary ur Real Estatt' .4,ppraisal~. hip.hest and ocst USL' is:
1. The reasonable and probable use that supports the highesl present value of Vacant land or
improved properly, as defined, as of the dale of the appraisal.
2 The reasonahle prohahle and legal use of land or sites as though vacant, found to he physically
pussible. approprilltdy ~upp(lrkd, financially feasible, and that results in tlle highest prcsctll
land value.
3, The most profitable w,e.
~Impli(:ct in Ihese dcfmiliolls is thlll lbe detrrminllliotl of highest and tlest uSt' tllkes inlO a.ccoum Ihe COl11ribUlion
of a specinc IIse 1O the community and L'ommunity development goals as well as the beueflls of that u.';(.' to
individual properly owners. Hem:c, in certllin situations the highesl and best use of land may be for pllrb,
greenhcltf., presenalion. conservalion. wildlife hllbiuus and thl: iike,ft
An 3n;llysis of the hi!!hcSl and beat ust of a propt'rty is the most imponant pan of the appraisal process becausl: il
is in teml:; of highest and hest use that market value is estimated. The study and selec!1on of highest and nest use
is klsed on llvaHablt' data :thou! whal uses arc le!!al, possihle, appropriate and feasible for the site hoth as va;;anl
and as unproved.
Conditions of Appraisal
I cenifYlhat
111i, report has heen pH-llart:d ill L'onl'ormilY with the requiremellts of the U11linrm Standard, of Profcssiomll
Appraisal Pranu::t a, rC'luin:d by iht:' Finan;;i:\l ImtitutlOl'l5 Reform, ReL'll\'ery aml EnlmCl:ml:nt Act of 1989
(FIRTn:,\).
lames 13 Kerr. Jr
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Borrower C~ent Collier Count Board of Count Commissioners
Pro e Address 3029 Lunar Street
C Na les Gou Collier
Lender Board of Coun Commissioners
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Sales Price NfA
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November 18, 2008
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Zi Code 34112
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Pronerhi Address 3029 lunar Street
Citv Na las Countv Collier State FL ZinCode 34112
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LAND APPRAISAL SUMMARY REPORT
PI """'" 3037 llftll' Streel .N SIllle:FL CodlI:34112
Coo Colier .....,0..: : LakeK Unit 2 Lot 89
~ Assessor's Parcel tI: 53352880006 laxYv: 2007 A.E.1il1eS:$ 803,70 S AS:KI5SmenIs:$
5 MartIIl' Area t4amlr. Ea& NanN -""" 14-5Q..25 CflUS lract 107.01
Current 0wnIr of Recont. Florida Real Estate Service Inc. .......r .00: WA
i Pro' 1 taDOliClblBI: n FUO OeMir*rGPl,I) I 0IM~1 HUU 1,,,,_ r I",,,,,,,,,
Al1lthln~~""O""r...b.,te~ 12:ii'*' U'" aVes, inlIeaamnl~ UOWner 0'_ ~- 0""-
IVes. give a bnetdesa1pticn:
of'"~ loW " 01 Mil_Willie udell ,," - a1V1illld!sctltle
Tl1$~lDIklW1llDm.ellrotClll8l'llillet:OlJlmCS:l; 1><GumInI DAltstaEtlIlCliw A
PI ""j; D<J...S_ """"" L_'" _
i InlendeIt Usa: The intenrted use of ins eoDl'8isaI is the assist with the purchue of the arooertv.
~ InleOOedUSft(S) (by IWlIl or type): Commlriv Redevelooment AaBncvfCollier Co CommiS8ioners
; 4069 Ba_lwJre Dr NaDIes FL 34112
""" Commumv Redew enl AOlIress:
_ L S_Gbbfns Mdr_: 2500 'DDI1 Road So. SUite206 NeDI8$ FL34112
- ~ --"I _lind Uoe Ch_lnlMdUoe
lotalion: 0- 0""- o A" PRICE W. o..(;jl 80> I8lNelLi<oly
Ul4l: I8lIMr 75\ 025-75\ 0......... DOWner S(lXXI) iii') ,-4(;jl .. 0""'" OInProcess"
Growthralill: [JRapld [8J 50.. 0- 0'_ '25 Low New - '0> ~Tl;I:
PropOOy vW5: n hcr8as11JJ .[]"""" 18l000ilrrg I8lV_IOS>1 ..,.,. ~ 55 """', ..
-,""" OS-'19~"''' ~~- OWacart(>S1.1 250+ "" 25 >
MaOOIIinIlime: n 1.lnHlr3Mo1i.:>-6Mos. Owr6Mos >
-.AftIdIng... ... .
~ E""":: SlaOJlty Good A..... ,,, Poor NlA ... Good A~ '" P".. WA
0 0 0 0 0 Mequacy d Willes 0 0 0 [] 0
iCorwerience'OE~ 0 0 0 0 0 -""""""'" [] 0 0 0 0
C_toShqlploJ I:J I8l 0 n 0 _ilem_C_ 0 0 0 0 0
Cnenieoce to ScImIs ["1 0 0 ~ 0 PukeandFkcProta:tion 0 0 0 0 [J
::1_",._,_ iil ~ R [] 19 -..........-... 19 ~ R R 19
!1l"","bOlN'_ n .....1Il _
Iii .....".- The subiect IS lOCated wflhin the Bavshom Drive Miled Use Overlav Zenina OistTd (See Attached AdDendum For
~ Details).
SUDPlV and demand IINl aeneraltv eLt of balanc:e with an oYe/'Sooolv oforoOltI'ties l&ed for sale with IoclII MLS. I10WfMIr there 6 a Itmlted
amount of 'lIaCant land fisted at Ihls time.
Dir1wr;lons: 40.0' x 100.0' SlOe,,",' .000 R.
lorll\lCIa$SlflCItion: MH-BMUD-R3 """"""" Residential. SinoIs Family. See Addendum
Iklpresen\~,...~I;()~Wllhexis1ingZDr"lfWJ1a:IuirBTJellS? ov" O,*, 0"'''''_
UsesalbweduTlllertllTll1lzDring: ~ Family Residentlsl Home
Are CC&RsappIeabi'!? Dyes Ut<<J [gJ~ Hawtt'ledoCUl1lll1lSbelrlrwle'Mld? UYes Dt10 _"'(h"",,,,,) S 1
CoITll1lllltS:
Hlr}hest & Best Use as iTlprovGd: [d1 Present LlSiI, II U (br uS!! (_in) A doscripbon of tl1e Sublect'S zoni~ diStrict is il'J:llDId in !he addendum.
Actual Use as 01 EflectiveOale: SillClle Famllv Resi:lential UstasajlpfalSedintlis~ ~~Fam Residential
Summary d tqhest & Best Use: The subied's Driof 2Dl1ina of Mobile Home has been cha.!lQ6 within the Overlav District Ie inckJde lh6 construction
~ of a ~_! fam~ f9si:JefQl. ..-.....
IIliIItioI Pubic ""'" -- 0fI...1l1ll...1lo....._,~ T... PIlllicPrtv;rre fr_ -,
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EEcmCil)' I8l 0 5... ~~It [8 0 To_ L_ ----
li:'1Ir 0 0 Privete - Sue Tvoeal -
[5<j [J Stm" Asphalt'Shinole 0-----0- Shape Rectarl!:;lJlar
SarilatyStrw&"~ 0 - None DrallQlIIl Apoears AdeQua1e
SlonnSewer ['J 0 S<<lewall None 0 0 V". ~!'1borhood
,- ts] U She! lights None R 0
MUlllrred"~ Ri " ... None n
OIiesll!lllilm'1l$: 'lnsidelol ICemrI"LoI 11CuhleSac Um rlHnfUlltJes '''''10''011'''
fEMA lftlodHmfllArea Yes IINo FBMFiJodZIIJle AE. - , 1200673931394 '''M Dale 11105
SilllComments: The suble_c:t is 8 tvPlcal platted neiohborhood slie WIth a neQhborhood 'IieW. There 81"& no S1Dflamnt adverse easements
encr08cl1m~nts or coodllions.
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