Sebring council directs staff to proceed with purchase of 126 West Center property for $1.4 million

The Sebring City Council approved a motion May 20 directing staff to continue with acquisition due diligence for the property at 126 West Center and to proceed with closing at the purchase price of $1,400,000.

City administration staff summarized the condition and estimated near-term repair costs for the building. Scott (city administration) said there are three elevators: one decommissioned, one that needs repairs and an older, non-ADA-compliant elevator that should be decommissioned or upgraded. He provided an estimate of $70,000–$85,000 to repair Elevator 2 and decommission Elevator 3.

Scott also described two options for the roof: a renovation with an expected 10-year warranty costing roughly $180,000–$200,000 or a full replacement that might carry a 32-year warranty at an estimated cost near $600,000. Replacing the building’s chiller and air handlers would add an estimated $500,000 for the heating/air conditioning systems.

Scott noted the city’s purchase contract requires decisions during the due-diligence period and said the inspection period deadline was the Thursday following the meeting. Councilmembers made a motion to proceed with the purchase at $1,400,000; a motion and second were recorded and council approved moving forward.

No additional contingencies or a vote tally were recorded in the publicly available transcript; staff will complete title work and remaining due diligence before closing. The transcript referenced communication with a counterparty identified as Mr. Mcbeth (counsel for the seller) regarding outstanding title matters.