AGENDA REPORT
DATE: April 22, 2024
TO: City Commission
FROM: Bill McDaniel, City Manager
SUBJECT: Resolution approving a Real Property Exchange Agreement between the
City and Juan Navarrete-Mendez and Lucina Navarrete for Lowry Ave properties.
EXECUTIVE SUMMARY:
The City owns two properties located at 401 West Lowry Ave and West Lowry Ave. The zoning is R-2, residential. The properties were acquired in 2015 from Hillsborough County for unpaid taxes.
On June 26, 2006, at the request of various owners within the neighborhood, the City Commission vacated several streets in the subdivision. The intent of the request was to sell the property to a developer, but the intended sale fell through after the streets were vacated. Consequently, some of the parcels are now landlocked.
Juan Navarrete-Mendez and Lucina Navarrete own property to the South of the City’s property and have requested that the City convey its interest in the two properties acquired in 2015.
This transfer provides an opportunity to acquire back some of the right-of-way that was vacated in 2006, which would be of assistance in the redevelopment of the neighborhood. As a condition of the sale, the City has requested, and Mr. and Mrs. Navarrete have agreed, that the portion of the vacated right-of-way on their property be transferred back to the City. Further, the City is retaining the vacated right-of-way adjacent to the properties it is conveying.
Ace Realty & Auction evaluated the properties and provided a Broker’s Opinion of Value on all the properties. The sales price is based on this opinion of value. The City will be paying $2,750.00 for the vacated right-of-way on Mr. and Mrs. Navarrete’s property. Mr. and Mrs. Navarrete will be paying the City $81,000 for the City’s property, less the vacated right-of-way.
RECOMMENDATION:
That the City Commission adopt a resolution approving the Real Property Exchange Agreement between the City of Plant City and Juan Navarrete-Mendez and Lucinda Navarrete and authorizing the City Manager and City Attorney to execute the necessary documents to effectuate the sale of the residential properties and the purchase of Navarrete property located on Lowry Avenue.
FISCAL IMPACT:
The City’s property will no longer be exempt from property taxes and the City will no longer incur costs to maintain the property. Revenues from the sale of the properties will be placed in the General Fund.
Prepared by: Denise McDaniel, Community Services Manager