Commission approves CRA purchase of 0.3‑acre downtown parcel for parking and future redevelopment

The Sanford City Commission on Aug. 25 approved a CRA purchase and related budget amendment to acquire two contiguous parcels at the southwest corner of Second Street and Magnolia Avenue for a combined acquisition and due diligence cost estimated at $575,000.

Pamela Lynch, CRA executive director and economic development project manager, told commissioners the two parcels total approximately 0.3 acres. The purchase price quoted in staff materials was $553,000; with appraisals, a phase I environmental and closing costs the total requested appropriation was $575,000 from CRA grants and aid to land.

Lynch said the acquisition aims to preserve downtown land for public parking and future redevelopment opportunities as several other parking lots in the central business district have been lost or will be reduced because of redevelopment projects. Lynch cited recent lost or reduced parking: 50 spaces at Palmetto and Second, 22 spaces at Oak Avenue and Second, and an end of a lease at a Jolly Supermarket lot that would likely remove about 50 spaces. Wells Fargo lot construction also removed about 25 spaces, she said.

Commissioners asked for clarification about comparables and appraisal timing; staff said appraisals and due diligence would proceed during an inspection period and that the CRA is sunsetting Dec. 31, 2025, making a prompt purchase desirable to preserve municipal control of the property.

The commission moved, seconded and approved the budget amendment and purchase. Staff said the city would complete appraisals, environmental review and closing work under the approved appropriation.

Ending: Staff characterized the acquisition as a short‑term preservation of downtown parking and long‑term positioning for future redevelopment; the CRA will provide documentation and appraisal results as part of the due diligence process.