Subject:
Title
Approval, Re: Contract for Sale and Purchase with Donna R. Dean for the Zone M-Milford Point Septic to Sewer Conversion Project - District 2.
End
Fiscal Impact:
$415,000, to be funded by the Save Our Indian River Lagoon Trust Fund (Fund 1260)
Dept/Office:
Public Works Department / Land Acquisition/ Utility Services / Natural Resources
Requested Action:
Recommendation
It is requested that the Board of County Commissioners approve and authorize the Chair to execute the attached Contract for Sale and Purchase.
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Summary Explanation and Background:
The subject property is located in Section 31, Township 24 South, Range 37 East, on the west side of Milford Point Drive in Merritt Island.
Natural Resources Management Department is undertaking a project known as Zone M Milford Point Drive Septic to Sewer Conversion, in conjunction with Utility Services Department, to help improve the Indian River Lagoon water quality by reducing excess nutrient loading. Milford Point Drive is located within Zone M, a project approved by the Board of County Commissioners in the Save Our Indian River Lagoon Project Plan. This project will consist of constructing an Air-Vac Pump Station, vacuum and force main lines, lift station and sewer service connections.
Fair market value was established by obtaining an appraisal report from Callaway & Price, Inc., dated August 23, 2021, with an assigned value of $365,000.00. The owner considered the short supply of buildable waterfront lots of this size (.29 acres) located on Merritt Island and the current escalating real estate trends, and offered to sell the parcel for no less than $415,000.00.
The Dean property is located on the west side of Milford Point Drive and identified as one of three potential locations for an Air-Vac Pump Station site. Efforts to obtain a parcel on the east side of Milford Point Drive was not successful. The option of pursuing a possible location on the south side of Merritt Island Causeway creates...
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