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fo4j <br />MEMORANDUM <br />TO: Board of County Commissioners <br />FROM: Dylan Reingold, County Attorney <br />DATE: February 19, 2020 <br />SUBJECT: Disposition of Real Property Ordinance <br />BACKGROUND <br />On December 10, 2019, the Indian River County Board of County Commissioners (the "Board") directed <br />the County Attorney to draft an ordinance that would allow for the use of commercial realtors for the <br />disposition of real property, per section 125.35, Florida Statutes. On February 4, 2020, the Board <br />authorized the County Attorney's Office to finalize an ordinance that included four alternative procedures <br />for the disposition of real property. The four options include ,a minimum base bid, a negotiated sale, <br />coordination with the Florida Department of Transportation and a request for proposal process. Pursuant <br />to the Board's direction the County Attorney's Office has finalized the draft ordinance with the four <br />options recommended by the Board. <br />The different alternatives offer different advantages. The minimum base bid utilizes the traditional <br />competitive bid process, but sets a minimum price. Thus, the process creates a level playing field with all <br />bidders, like a traditional competitive bid, but establishes a minimum amount that the County would <br />accept in order to sell the property, limiting the number of responses that would not be considered. <br />Using a real estate agent also has its advantages. A real estate agent can bring education and experience in <br />obtaining fair value for property, as well as a list of potentially interested buyers. Real estate agents will <br />also be motivated to complete the sale of the property. A real estate agent may also be able to bring back <br />multiple offers to the County for consideration. Also by using a real estate agent the County is able to save <br />staff time in completing a sale. The County will, in consultation with the broker or auction house, <br />determine an asking price for real property based upon appraisals, comparable sales, market information <br />and any other relevant factors. <br />195 <br />