AGENDA MEMORANDUM

Meeting Date:           October 23, 2006

From:                          Darel Craine, Assistant Director, Environmental Services Department

Subject:                      Resolution authorizing execution of a Contract for Sale and Purchase with

C & C Peat Company, Inc.

Staff Recommendation:

Staff recommends acceptance of Contract for Sale and Purchase executed by Stephen Cook, as President of C & C Peat Co., Inc., for property located entirely within the City’s Turnpike Wastewater Treatment Facility.

Analysis:

C & C Peat Company, Inc. and the City of Leesburg entered into a Lease Agreement for property within the City’s Turnpike Wastewater Treatment Facility under Resolution #7411 dated August 8, 2005, which gave them an option to purchase the property.    In a letter dated August 16, 2006, C & C Peat Co., Inc. advised the City of their intent to exercise Lessee’s Option to Purchase the Ground Leased Premises as contained in Article 3 of the Ground Lease with Purchase Option in the Lease Agreement.

Options:

1.  Approve the resolution and contract as presented, or;

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

Total purchase price to be paid for the property is $480,000.00

Submission Date and Time:    10/19/2006 9:23 AM____

Department: _Environmental Services__ Prepared by:  _Marj Allman__________                      Attachments:         Yes__x_   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes_x_  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head __yes___ Finance  Dept. __________________                                    Deputy C.M. ___________________                                          Submitted by: City Manager ________RS___________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________

RESOLUTION NO._______________

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A CONTRACT FOR SALE AND PURCHASE WITH C & C PEAT COMPANY, INC. FOR PROPERTY LOCATED WITHIN THE CITY'S TURNPIKE WASTEWATER TREATMENT FACILITY CURRENTLY LEASED ON WHICH C & C PEAT CO., INC HAS EXERCISED AN OPTION TO PURCHASE ; AND PROVIDING AN EFFECTIVE DATE.

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

            THAT the Mayor and City Clerk are hereby authorized to execute an agreement with C & C Peat Company, Inc. whose address is 9200 Edgewater Drive, Clermont, FL 34711, for purchase of property located within the City’s Turnpike Wastewater Treatment Facility currently leased to C & C Peat Co, Inc. on which it has exercised an option to purchase.

 THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _23rd____ day of _October________ 2006.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk