CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
New Business 		For Meeting of:
January 22, 2018
District: 5 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Real Estate Donation Agreement for property at 37 and 39 S. Magnolia Avenue
Summary:

The Gallery at Avalon Island LTD owns the two story office building located at the northeast intersection of South Magnolia Avenue and East Pine Street.  The address for the property is 37 and 39 South Magnolia Avenue.

The owners would like to donate the property to the City, with the desire that the City maintain the property as a cultural facility.  The City would like to recognize the historical  significance of the property and Ford W. Kiene's restoration and donation of the property to the City.

The 2017 assessed value of the property is $955,803.  The owner is obtaining an independent appraisal of the property for purpose of the charitable contribution to the City.  The City will pay all closing costs associated with the real estate closing.

The City will maintain the property as a cultural facility for a period of twenty (20) years following the recording of the deed.  The property will be known as the Rogers Kiene Building.  
Fiscal & Efficiency Data: See attached FIS.
Recommended Action:
Approval of Real Estate Donation Agreement, authorize execution by Mayor and City Clerk; approval of deed and its recording in the Orange County Public Records; authorize the extension of any required documents by the Mayor and/or Real Estate Manager for the real estate closing; authorize the Real Estate Manager to execute any and all required documents and any and all necessary extensions of documents to manage the property after the real estate closing, including but not limited to tenant occupancy agreements, service agreement payments, and license fees; all 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: Laurie Botts, Wes Powell
Approved By:

Department Date and Time
Budget Outside Routing Approval 1/11/2018 12:11 PM
City Clerk 1/11/2018 1:12 PM
ATTACHMENTS:
Name: Description: Type:
FIS_-_37___39_S._Magnolia_Avenue.doc Fiscal Impact Statement Backup Material
Real_Estate_Donation_Agreement_Final_01.08.18.pdf Real Estate Donation Agreement Backup Material
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