CITY OF ORLANDO
COUNCIL AGENDA ITEM


Items Types:
Business and Financial Services
For Meeting of:
January 11, 2017
District: 1 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : No Draft Only: No
Grant Received by City?: No

Subject:
Real Estate Purchase Agreement between Greater Orlando Aviation Authority, the City of Orlando and Tavistock Development Company

Summary:

The City owns property on which the Greater Orlando Aviation Authority, "GOAA," operates the Orlando International Airport, "OIA".  GOAA is currently seeking approvals from the City for development of medium and high-intensity uses on the East Airfield Development Area of  OIA.  As a condition of said approvals and other development by Lake Nona occurring in the area, the City and GOAA will sell a parcel of property in the East Airfield Development Area to Tavistock to be utilized as a City park. By virtue of the terms of the Amended and Restated Operation and Use Agreement between the City and GOAA, the fair market value paid for conveyance of the park site will be retained by GOAA for airport purposes.  Under the terms of the Amended and Restated Developer's Agreement between the City and Lake Nona, Tavistock will install park improvements at its cost and then convey the park property back to the City at no cost and unencumbered by airport-use restrictions.  


Fiscal & Efficiency Data: N/A

Recommended Action:
Approval of the attached Agreement and authorization for the Mayor or Mayor Pro Tem to execute same, subject to review and approval by the City Attorney's Office.


Agenda Item attachment(s) on file in the City Clerks Office.

Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.

Contact: Roy K. Payne, Laurie Botts
Approved By:

Department Date and Time
Budget Outside Routing Approval 12/29/2016 10:37 AM
City Clerk 12/29/2016 10:44 AM

ATTACHMENTS:
Name: Description: Type:
GOAA.City.Tavistock.East_Airfield_Park_Property_PSA__12-12-2016.pdf Agreement Backup Material
Exhibit_A.pdf Exhibit A Backup Material

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