Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Appropriate City Officials To Execute A Quitclaim Deed To Robert Fautz For The Sale Of A City Owned Vacant Lot, Parcel ID No.514204013860, As Surplus Property For $50,000.00, Said Lot Located At 2350 Farragut Street.
Body
Staff Recommends: Approval of the Attached Resolution.
Explanation:
The Director of Real Estate has identified nine (9) City owned vacant lots for classification as surplus property to be sold "AS IS" with conveyance by Quit Claim Deed.
Parcel ID No. 514204013860 (Liberia 1-34 B Lot 18, 19 Blk 18) consists of an approximately 80' x 104' vacant residential lot at 2350 Farragut Street that was conveyed to the City by Tax Deed on March 6, 2003.
City Charter Section 13.01., Sale of City-owned real property, states in Section (a) that any property which the City proposes to sell or otherwise dispose of must be appraised by one (1) independent, qualified appraiser. However, property which is listed by the Broward County Property Appraiser as having a value of not more than twenty-five thousand dollars ($25.000.00) may be sold or disposed of without an appraisal. If the appraiser values the property in excess of two hundred fifty thousand dollars ($250,000.00) a second independent appraisal is required and if the two appraisals differ by more than 25%, a third independent appraisal is required.
Based on a BCPA 2014 market value of $42,000.00, one appraisal was required which was obtained from the appraisal firm of L. B. Slater & Company, who provided an estimated market value of $45,000.00.
The Director of Real Estate requested that Procurement Services issue an informal sealed bid for the sale of nine (9) surplus City properties including the subject parcel.
On December 4, 2013, Notices of Availability for Sealed Sale Bid Number S-201 were mailed and the bid was advertised on-line via the City's website and DemandSta...
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