CORTEZ – The Manatee County Board of County Commissioners (BCC) will receive an update at its Jan. 8 meeting on the stalled Seafood Shack and Marina acquisition.
Property Acquisition Division Manager Charles Meador and Senior Real Property Specialist Tim Cristello are scheduled to update the commission at the regular meeting.
TIMELINE
On Sept. 5, 2024, the then-members of the BCC executed a contract for the purchase of the property for $13 million with seller Vandyk 1st Gulf Coast-Marina, LLC.
The anticipated use of the property is as a public boating access facility with a boat ramp, dry storage and marina.
The property consists of seven upland parcels of approximately 5.9 acres and two submerged land leases of 2.9 acres. It was appraised at $12.55 million, assuming the two expired submerged land leases will be renewed.
According to the sales contract, the closing of this transaction was to occur on or before Oct. 7, 2024.
“Property Acquisition and American Government Services, the county’s closing agent, worked on closing this transaction per terms and conditions of the contract,” according to the Jan. 8 BCC meeting agenda. “Property Acquisition completed a site visit on Sept. 10, 2024, to walk the property and talk with seller’s representatives in charge of all operations as part of the due diligence of the contract.”
At the time of the site visit the Seafood Shack property was occupied with businesses and boat slip tenants. On behalf of the seller, a Notice of Termination of Tenancy letters were sent to the tenants ordering the premises to be vacated by Sept. 30.
Hurricane Helene struck on Sept. 26 and on Sept. 30, representatives from county administration, construction services, property management, property acquisition, and sports and leisure departments, conducted a walk-thru and confirmed the Seafood Shack had sustained major hurricane damage.
“Administration directed property acquisition to move forward and close this transaction on or before Oct. 7 per the contract,” the agenda states. “On Oct. 9, Hurricane Milton made landfall and caused more damage to the Seafood Shack property.”
A closing was then rescheduled for Dec. 23, but also did not take place. According to the BCC agenda, the seller and lender were unable to close due to a financial/internal dispute.
“The seller and lender cannot mutually agree on a settlement statement amount owed to close this real estate transaction. As is, the county is not able to obtain clear title,” the BCC agenda states.
The BCC meeting begins at 9 a.m. on Wednesday, Jan. 8 at the Manatee County Administration Building, 1112 Manatee Avenue W., Bradenton.
The meeting can be viewed live on www.mymanatee.org/mga and on Manatee Government Access (MGA) Spectrum Channel 644, Frontier Channel 30 and Comcast Channel 20 (within Manatee County).
