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_y�-kpj�q• ;fir <br />PLO <br />d <br />c,Tr aF suK �'� <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />MEMORANDUM <br />TO: Honorable Mayor and City Commissioners <br />FROM: Stan Morris, City Manager <br />DATE: November 16, 2023 <br />RE: Purchase of Property located at 18126 Atlantic BlvdA <br />RECOMMENDATION: <br />Staff recommends approval of this Resolution. <br />REASONS: <br />The triangular shaped property located at 18126 Atlantic Blvd, adjacent to Pelican Community Park <br />and Norman S. Edelcup Sunny Isles Beach K-8, is available. As a growing city, this parcel of land wil <br />allow for the expansion of more municipal purpose space, which will allow for more recreation <br />services and much more. The purchase of 18126 Atlantic Blvd will benefit the community as a whole <br />and address emerging demands of a growing City. The City Manager's Office has been it <br />communication with the owner regarding the sale of this property, and the parties have reached a <br />purchase agreement with a purchase price of $5,5000,000.00. <br />ADDITIONAL INFORMATION: <br />There were three appraisals done of the property from three different firms. Below are the appraisals <br />details: <br />Date of Value <br />Firm <br />Value Conclusion <br />AppraisalFirst <br />December 1, 2022 <br />$4,400,000 <br />Real Estate Appraisers, LLC <br />March 1, 2023 <br />Walter Duke + Partners <br />$4,160,000 <br />July 22, 2023 <br />Joseph J. Blake and Associates, <br />$4,900,000 <br />INC. <br />Item Number: 101 <br />