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At their April 22 assembly, the City Commissioners will vote on rejecting all bids for the sale of a property acquired as a part of the Northwood Centre buy.

The property spans 1.68 acres and is positioned at 1851 N. MLK, Jr. Boulevard and 300 W. Tharpe Road. The City acquired the property in Could 2019 as a part of the Northwood Centre buy, and the property was appraised for $525,000 in October 2019, employees stories.

In accordance to the assembly agenda, the City obtained quite a few inquiries in 2019 from adjoining property homeowners keen on shopping for the property. In January 2020, the City launched an Invitation for Bids (IFB-032-20-RT) for the property.

“Eleven events toured the property throughout a non-mandatory pre-bid assembly and web site go to,” employees stories. “Employees obtained two affords to buy the Northwood-Enterprise parcel. Each bid quantities are considerably lower than the property’s appraised worth.”

In accordance to the assembly agenda, Schumer Capital Corp. from Plantation, Florida bid $300,000 with further contingencies. Moore Creek, LLC from Tallahassee bid $350,000.

Employees recommends rejecting all bids and delaying promoting the property till the Northwood Centre’s grasp planning is completed.

“This property will seemingly recognize in worth, and affords to buy will enhance correspondingly, as soon as the brand new TPD Headquarters is underneath design/development and a redevelopment plan for the rest of the Northwood Centre is full,” employees stories.

Moreover, a small workplace positioned on the property is leased to Enterprise Leasing, which has a proper to refuse affords to buy the property throughout its lease time period.

If the City delays the sale of the property, it is going to proceed to obtain rental revenue from the lease, employees stories.

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