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City agrees to sell small downtown parcel; proceeds slated for affordable housing fund
Summary
The City of Sarasota approved a purchase-and-sale agreement for a 6,700-square-foot parcel at 400 Benjamin Franklin Drive to an adjacent property owner for $97,000, with proceeds directed to the city's Affordable Housing Trust Fund.
The Sarasota City Commission on Feb. 18 approved a purchase-and-sale agreement selling a small, city-owned parcel at 400 Benjamin Franklin Drive to Wilson AMI LLC for $97,000, a figure $16,000 above an independent appraisal.
The parcel is about 6,700 square feet and — according to city staff — has limited marketability because of its size, zoning and limits on ingress and egress. Wayne Appleby, the city’s economic development real estate manager, told commissioners the appraisal was reduced because "the site,…
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