At the August 17, 2017, Regular Bayfront Community Redevelopment Agency (CRA) Board meeting, the Board provided initial approval to purchase the 0.39-acre parcel located at 1608 Orange Blossom Trail NE (Parcel ID: 28-37-24-25-6-16 and Tax ID: 2832603) with the initial possibility that the parcel would be combined with the adjacent parcel to allow for a larger open space feature or public parking for the planned stormwater pond located at 1626 Orange Blossom Trail NE (OBT).  On November 22, 2017, the parcel was purchased from George D. Smith for $48,000. On March 3, 2022, the CRA declared this property as surplus real estate. On March 17, 2022, City Council declared this property as surplus real estate.

This property is located on the corner of Orange Blossom Trail NE and Hessey Avenue NE adjacent to the FEC Railroad main line and contains approximately 0.39 acres, or 16,988 SF.  The property is approximately 210 feet deep, and 80 feet of frontage along Orange Blossom Trail NE. Hessey Avenue NE is a minor arterial roadway connecting Orange Blossom Trail NE to US Highway 1; a major arterial roadway traversing all of Brevard County from Volusia County to the north to Indian River County to the south. On February 24, 2022, the City received an appraisal from W. H. Benson providing for an appraised value of $60,000.  The City’s commercial broker, ONE Sotheby’s International, provided a revised Broker Price Opinion (BPO) which was executed on May 16, 2022. The BPO uses the sales comparison approach, appraised value and estimates that the parcel is valued at $60,000 (see Attachment 2). This property has been listed for sale through the City's contracted commercial estate broker, ONE Sotheby’s International since March 18, 2022.  On June 6, 2023, the City received a Vacant Land Contract from Palm Bay Landing LLC (Mike Timmons) in the amount of $60,000.

At the September 7, 2023, regular Bayfront CRA Meeting 2023-05, the Board approved the City Manager to execute purchase contract for $60,000. At the October 5, 2023, regular City Council Meeting 2023-25, the Council approved the City Manager to execute purchase contract for $60,000.