Item 3B- Purchase of 54 East Coast DrAGENDA ITEM:
SUBMITTED BY:
DATE:
CITY OF ATLANTIC BEACH
CITY COMMISSION MEETING
STAFF REPORT
Purchase of 54 East Coast Drive
Nelson VanLiere, City Manager @ _
June 16, 2016
AGENDA ITEM 38
JUNE 27, 2016
This Agenda item will be amended the middle of next week with additional information
including a sample parking layout and some cost projections as well as information on how this
can be accomplished. This additional information will be included in an amended agenda packet
by Wednesday afternoon.
Attached is the previous staff report for informational purposes.
AGENDA ITEM:
SUBMITTED BY:
DATE:
CITY OF ATLANTIC BEACH
CITY COMMISSION MEETING
STAFF REPORT
Purchase of 54 East Coast Drive
Nelson VanLiere, City Manager c;PV
June 1, 2016
AGENDA ITEM 38
JUNE 27, 2016
BACKGROUND: Recently, it was brought to the City's attention that the property located at
54 East Coast Drive is for sale. Being that this property is strategically located just a short
walking distance from our Town Center Business District, I wanted to put forth the topic of the
purchase of this property for discussion. The public purpose for the acquisition would be to
provide much needed parking to the business district. Discussion points would include the
following information:
• The need for public parking in the area.
• The acquisition price is $1,200,000. These funds are available in the General Fund
unrestricted fund balance. A budget ordinance would have to be passed to fund the
purchase.
• The lot is 130ft by 150ft or 19,500 sq feet.
• Changing the current zoning from RG-M to something that a commercial parking lot
would be allowed.
• Current taxes are approximately $6,000/year, but would increase due to sale of the
property. If the City acquires the property, there will be no taxes received.
• To develop the site as a parking lot could cost $100,000 to $150,000 depending on how it
is constructed.
• The number of spaces created would depend on stormwater drainage requirements; a
desire to keep some of the trees and the organization of the spaces chosen.
Approximately 50 spaces may be configured.
• The possibility of making it a paid parking lot to recover the costs over time.
BUDGET: The immediate budget impact would be to increase the budget by $1,200,000 plus
closing costs and the cost of razing the existing structure. Subsequently, the City would incur
cost to make the property useful as a parking lot.
RECOMMENDATION: Upon reaching a consensus of the City Commission, direct the City
Manager and City Attorney to negotiate a purchase agreement for 54 East Coast Drive for City
Commission approval and direct staff to prepare an ordinance amending the operating budget to
fund the estimated costs of acquisition.
ATTACHMENTS: COJ Property Appraiser parcel information on 54 East Coast Drive
Atlantic Beach Zoning Map
Aerial Photo of 54 East Coast Drive
General Fund Long Term Financial Projection of2016
Photo of House
City of Atlantic Beach
Long Term Financial Plan Projection Summary
General Fund
Actual Actual Estimate Budget Proj. Proj. Proj. Proj. Proj. Proj. Proj. Proj. Proj.
FY-13 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-20 FY-21 FY-22 FY-23 FY-24 FY-25
Cash Balance Forward 5,999,741 6,178,222 6,522,475 6,603,516 6,603,516 6,109,072 5,842,229 5,652,023 5,759,464 5,959,845 6,499,296 7,052,613 8,082,327
Revenues
Taxes 5,069,752 5,044,296 5,191,889 5,489,037 5,697,169 5,913,264 6,137,692 6,370,712 6,612,660 6,863,941 7,124,856 7,395,799 7,677,159
Licenses and Permits 630,706 663,976 860,975 903,350 930,351 956,159 986,600 1,016,298 1,046,678 1,077,968 1,110,195 1,143,386 1,177,570
Intergovernmental Revenues 1,567,424 1,634,354 1,686,170 1,779,142 1,832,284 1,867,020 1,943,398 2,001,467 2,061,279 2,122,885 2,186,339 2,251,696 2,319,015
Charges for Services 2,161,325 2,200,952 2,328,435 2,259,665 2,326,196 2,394,707 2,465,259 2,537,913 2,612,730 2,689,776 2,769,118 2,850,824 2,934,965
Fines and Forfeitures 224,294 93,469 82,320 82,000 84,460 86,994 89,604 92,292 95,060 97,912 100,650 103,675 106,991
Miscellaneous Revenues 260,707 301,347 179,293 163,731 145,303 139,173 136,494 135,004 111,626 113,070 114,556 116,085 57,659
lnterfund Transfers 975,454 1,066,503 999,210 1,045,874 1,071,487 897,776 1 '118,766 1,146,291 1,174 548 1 203,556 1,233,335 1,263,376 1,313,362
Total Revenues 11,109,664 11,204,899 11,348,292 11,722,799 12,087,248 12,277,113 12,878,012 13,299,977 13,714,601 14,169,108 14,639,248 15,125,041 15,586,722
Other Financing Sources
Total Resources 17,109,405 17,383,121 17,870,767 18,326,315 18,690,765 18,386,186 18,720,241 18,952,000 19,474,065 20,128,953 21,138,544 22,177,654 23,669,049
Expenditures by Department
Governing Body 40,225 38,324 41,315 40,364 40,692 41,412 41,939 42,476 43,022 43,577 44,141 44,715 45,296
City Administration 2,363,786 2,467,038 2,506,734 2,418,498 2,812,328 2,584,362 2,844,004 2,792,896 2,624,637 2,870,576 2,922,650 2,885,531 2,972,051
Planning and Zoning 151,766 116,794 250,710 149,364 157,616 163,604 166,911 171,171 175,774 179,709 182,909 178,355 184,513
Public Safety 4,916,804 5,011,182 5,167,154 5,767,701 6,079,112 6,200,279 6,337,681 6,498,419 6,594,943 6,642,625 6,967,675 6,995,852 7,027,688
Public Works-Streets 1,457,343 1,658,766 1,546,301 1,572,712 1,663,247 1,692,076 1,714,148 1,694,462 1,803,183 1,807,634 1,830,530 1,838,226 1,896,722
Parks and Recreation 1,035,707 1,159,263 1,271,066 1,286,900 1,331,771 1,350,594 1,436,358 1,450,601 1,491,928 1,511,289 1,548,436 1,555,095 1,605,742
General Government 782,697 389,280 481,971 487,240 496,726 511,629 527,176 542,511 580,534 574,246 589,590 597,553 616,629
Total Expenditures 10,748,328 10,860,646 11,267,251 11,722,799 12,581,692 12,543,957 13,068,217 13,192,536 13,514,220 13,629,656 14,085,931 14,095,327 14,348,643
Revenues Less Expenditures 361,336 344,253 81,041 0 -494,444 -266,844 -190,205 107,440 200,381 539,452 553,317 1,029,715 1,238,078
Other Financing Uses 182,855
Total Cash Reserves 6,178,222 6,522,475 6,603,516 6,603,516 6,109,072 5,842,229 5,652,023 5,759,464 5,959,845 6,499,296 7,052,613 8,082,327 9,320,406
Restricted Cash 2,842,745 2,589,502 2,657,904 2,836,042 2,923,653 2,998,196 3,066,386 3,150,151 3,226,447 3,292,379 3,384,299 3,406,334 3,474,163
Unrestricted Cash 3,335,476 3,932,974 3,945,613 3,767,474 3,165,219 2,644,033 2,563,637 2,609,313 2,733,398 3,206,917 3,666,314 4,675,993 5,846,242
Total Exp. & Cash Reserves 17,109,405 17,383,121 17,870 767 18,326 315 16,690,765 18 386 186 18,720 241 18 952,000 19 474 065 20,128,953 21138,544 22,177 654 23,669 049
Resource Allocation
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Personnel Services 7,002,341 6,889,650 6,820,003 7,453,033 7,655,611 7,849,166 8,071,989 8,207,282 8,368,226 8,512,742 8,742,821 8,689,504 8,815,390 .... G')
Operating 3,168,637 3,468,357 3,811,612 3,891,136 4,039,801 4,143,617 4,281,556 4,393,322 4,537,561 4,656,773 4,794,374 4,935,832 5,081,263 c m z z Capital Outlay 546,350 502,639 635,636 378,630 666,260 551,173 714,673 591,933 606,433 460,141 546,736 469,990 451,990 m c Transfers Out 31,000 0 0 0 0 0 0 0 0 0 0 0 0 N l> .:"' ::::j Total Expenditures 10,748,328 10,860,646 11,267,251 11,722,799 12,581,692 12,543,957 13,068,217 13,192,536 13,514,220 13,629,656 14,085,931 14,095,327 14,348,643 N m
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