Attachment_F_Agreement_for_Conveyance_of_Real_Property.pdf

This document is an Agreement for Conveyance of Real Property between the City of Venice and Sarasota County, Florida, concerning the transfer of two parcels of land for use as a regional athletic park. Specifically, the agreement involves the conveyance of Wellfield Park (located at 1300 Ridgewood Ave.) and approximately 4.2 acres of Pinebrook Park (located at 1251 Pinebrook Road) from the City of Venice to Sarasota County. The County will perpetually operate the properties as a regional park, with the City retaining a reversionary interest if the County ceases to use the property for its intended purpose for one year or more. A separate Funding Agreement will establish the terms for future redevelopment and improvement of the Regional Park Property.

The transfer involves minimal financial consideration, with the County agreeing to operate the park as the primary compensation. The agreement includes provisions for environmental assessment, including a Phase I and Phase II Environmental Assessment to be conducted within 120 days of the Effective Date. The property transfer is subject to a Utility Easement that will allow the City to maintain existing infrastructure, including a booster pump station and storage tank. Additionally, the Florida Department of Environmental Protection has been involved in the process, having previously reviewed a No Further Action Proposal related to environmental conditions at the Wellfield Park site, specifically addressing a discharge reported in January 1999.