2024-03-05 Exhibit 4, Item VI.B.L-ANoeRRF-{
PRECAST
Landmark Precast, LLC
438 NW 10th Ave
Homestead, FL 33030
February 13, 2023
VIA EMAIL
Re: 55 SE 3rd Ave, Okeechobee, FL 34974 (the "Property')
To whom it may concern,
Exhibit 4
03/05/2024
.=-tem-11-. i.,
(786)242-8888
Landmark Precast. com
We have set forth below a list of the terms pursuant to which Landmark Precast or its nominee, is
prepared to purchase the Property, subject, of course, to the satisfactory completion of due diligence
activities. This letter does not constitute an offer to purchase but is merely a letter of intent.
1. Purchaser:
2. Property:
3. Seller:
Landmark Precast or its nominee.
55 SE 3rd Ave Okeechobee, FL 34974
[3.497 acres]
City of Okeechobee
4. Purchase Price and Deposit: $325,000. Purchaser will deposit in escrow a refundable deposit of
$10,000. The refundable deposits shall become non-refundable
upon expiration of the feasibility period and shall be applied to
the purchase price of the Property at Closing.
5. Feasibility Period: The Purchaser shall have 60 days to conduct a comprehensive
investigation and evaluation of the Property, and, together with
its agents, employees, contractors, and engineers, to enter upon
the Property and conduct such surveys, tests, studies,
investigations, and the like as the Purchaser may deem necessary
or appropriate to enable the Purchaser to determine the feasibility
of the proposed acquisition of the Property. If for any reason the
results of any aspect of the Purchaser's investigation and
evaluation of the Property shall be unsatisfactory to the
Purchaser, in its sole discretion, the Purchaser shall have the right
to terminate the Agreement, whereupon the Deposit shall be
returned to the Purchaser and parties shall have no further rights,
liabilities or obligations to each other thereunder.
6. Closing: If Purchaser is satisfied with the results of its due diligence,
Closing will take place no longer than 30 days after expiration of
feasibility period. Property will be delivered free and clear of any
liens or encumbrances.
7. Closing Costs: The Agreement shall provide that the Seller and Purchaser shall
divide in accordance with local custom all state and local transfer
taxes, recordation taxes and other taxes, and public charges
imposed upon the transfer of the Property. Purchaser shall select
title agent.
S. Proration: Real property taxes, utilities, water and sewer charges and all
other expenses relating to the Property shall be adjusted as of the
day of Closing.
9. Confidentiality: The parties agree that the terms of this document are confidential
and shall not be released to third parties (other than the parties'
attorneys, consultants, partners, accountants, lenders, investors,
separate accounts, and advisors) without prior approval.
10. Non -Binding: This letter is not intended as, and does not constitute, a binding
agreement by any party, nor an agreement by any party to enter
into a binding agreement but is merely intended to specify some
of the proposed terms and condition of the transaction
contemplated herein. Neither party may claim any legal rights
against the other by reason of the signing of this letter of intent or
by taking any action in reliance thereon. Each party hereto fully
understands that no party shall have any legal obligation to the
other, or with respect to the proposed transaction, unless and until
all of the terms and condition of the proposed transaction have
been negotiated and agreed to by all parties, in their respective
sole discretion, and set forth in a definitive agreement which has
been negotiated, signed and delivered by all parties. The only
legal obligations which any party shall have shall be those
contained in such signed and delivered definitive agreement
referred to above.
If this letter accurately expresses our mutual understanding, please sign in the space provided
below. By your execution of this letter, you agree for the next 30 days to deal solely with us to the end of
agreement upon a mutually acceptable definitive contract
ACCEPTED AND AGREED TO THIS
Very truly yours,
Landmark Precast, LLC
R69en 17,-a¢i4o
By:
Roger Tomasino
President
By:
Its: T--)
•
•
Callaway & Price, Inc.
Real Estate Appraisers and Consultants
Licensed Real Estate Brokers
www.callawayandprice.com
NSin..1972
SOUTH FLORIDA Please respond to the Treasure Coast office
1410 Park Lane South E-Mail: s. neill@callawayandprice.com
Suite 1
Jupiter, FL 33458
Phone (561)686-0333 August 15, 2023
Fax (561) 686-3705
Stephen D. Shaw, MAI, AI-GRS
Cert Gen RZ1192
s.shaw@callawayandprice.com
Robert A. Callaway, MRICS
Mr. Gary Ritter
Cert Gen RZ2461
r.callaway@callawayandprice.com
City Administrator
City of Okeechobee
55 SE 3rd Avenue
TREASURE COAST
603 North Indian River Drive
Okeechobee, FL 34974
Suite 104
Fort Pierce, FL 34950
Phone (772) 464-8607
Fax (772)461-0809
Dear Mr. Ritter:
Stephen G. Neill, Jr., MAI
Cert GenRZ2480
We have made an investigation and analysis of the 1.497-acre
s.neill@callawayandprice.com
vacant land located within the Okeechobee Commerce Center on
the south side of NE 121h Street in Okeechobee, Florida 34972.
SPACE COAST
The Subject Property will be further described both narratively
1120 e
and legally within the following Appraisal Report. The purpose of
9 Y 9 PP P P P
Suite
site 1
Melbourne, FL 32901
this investigation and analysis was to provide our opinion of the
Phone (321)726-0970
Market Value of the Fee Simple Estate in the Subject Property as
Fax (321) 726-0384
of a date of Value of August 12, 2023.
Curtis L. Phillips, MAI
Cert Gen RZ2085
c.phillips@callawayandprice.com
This report has been prepared for our client and intended user,
The City of Okeechobee. The intended use was to assist the
CENTRAL FLORIDA
client for internal decision -making purposes. The scope of work
111 North Orange Avenue
performed is specific to the needs of the intended user and the
Suite800
intended use. No other use is intended, and the scope of work
Orlando, FL 32801
Phone (321)726-0970
may not be appropriate for other uses.
Fax (321)726-0384
Curtis L Phillips, MAI
The scope of work performed included a complete analysis of the
Cert GenRZ2085
Subject Property. A detailed scope of work description can be
c.phillips@callawayandprice.com
found in the body of this report.
Mr. Gary Ritter
City Administrator
City of Okeechobee
August 15, 2023
Page 2
Based upon the scope of the assignment, our investigation and analysis of the information
contained within this report, as well as our general knowledge of real estate valuation
procedures and market conditions, it is our opinion that the Market Value of the Fee Simple
Estate of the Subject Property as of a date of Value of August 12, 2023 was:
$215,000
A description of the property appraised, together with an explanation of the valuation
procedures utilized, is contained in the body of the attached report. For your convenience, an
Executive Summary follows this letter. Your attention is directed to the Limiting Conditions
and underlying assumptions upon which the value conclusions are contingent.
Respectfully submitted,
CALLAWAY & PRICE, INC.
Stephen G. Neill, MAI
Cert Gen RZ2480
*0-" � �k"
Melanie M. Ivey
Cert Gen RZ3241
SGN/MMI/clw/23-84782
Attachments
•
Callaway & Price, Inc.
Real Estate Appraisers and Consultants
Licensed Real Estate Brokers
www.callawayandprice.com
NS,nc.1972
SOUTH FLORIDA Please respond to the Treasure Coast office
1410 Park Lane South E-Mail: s. neill@callawayandprice.com
Suite 1
Jupiter, FL 33458
Phone (561)686-0333 August 15, 2023
Fax (561)686-3705
Stephen D. Shaw, MAI, AI-GRS
Cert Gen RZ1192
s.shaw@callawayandprice.com
Robert A. Callaway, MRICS
Mr. Gary Ritter
Cert Gen RZ2461
r.callaway@callawayandprice.com
City Administrator
City of Okeechobee
55 SE 31 Avenue
TREASURE COAST
603 North Indian River Drive
Okeechobee, FL 34974
Suite 104
Fort Pierce, FL 34950
Phone (772) 464-8607
Fax (772)461-0809
Dear Mr. Ritter:
Stephen G. Neill, Jr., MAI
Cert Gen RZ2480
We have made an investigation and analysis of the 1.00-acre
s.neill@callawayandprice.com
vacant land located within the Okeechobee Commerce Center on
the south side of NE 12th Street in Okeechobee, Florida 34972.
SPACECOAST
The Subject Property will be further described both narratively
1120 Palmetto Avenue
suite,
and legally within the following Appraisal Report. The purpose of
Melbourne, FL 32901
this investigation and analysis was to provide our opinion of the
Phone (321)726-0970
Market Value of the Fee Simple Estate in the Subject Property as
2
Fax (321)321) 726-0384
of a date of Value of August 12, 2023.
Curtis L.Phi
Cert Gen RZ2085
c.phillips@callawayandprice.com
This report has been prepared for our client and intended user,
The City of Okeechobee. The intended use was to assist the
CENTRAL FLORIDA
client for internal decision -making purposes. The scope of work
111 North Orange Avenue
performed is specific to the needs of the intended user and the
Suite 800
intended use. No other use is intended, and the scope of work
Or
Orlando, FL 32801
Phone (321)726-0970
may not be appropriate for other uses.
Fax (321) 726-0384
Curtis L. Phillips, MAI
The scope of work performed included a complete analysis of the
Cert Gen RZ2085
Subject Property. A detailed scope of work description can be
c.phillips@callawayandprice.com
found in the body of this report.
Mr. Gary Ritter
City Administrator
City of Okeechobee
August 15, 2023
Page 2
Based upon the scope of the assignment, our investigation and analysis of the information
contained within this report, as well as our general knowledge of real estate valuation
procedures and market conditions, it is our opinion that the Market Value of the Fee Simple
Estate of the Subject Property as of a date of Value of August 12, 2023 was:
$145,000
A description of the property appraised, together with an explanation of the valuation
procedures utilized, is contained in the body of the attached report. For your convenience, an
Executive Summary follows this letter. Your attention is directed to the Limiting Conditions
and underlying assumptions upon which the value conclusions are contingent.
Respectfully submitted,
CALLAWAY & PRICE, INC.
Stephen G. Neill, MAI
Cert Gen RZ2480
A" � 1�:AAN
Melanie M. Ivey
Cert Gen RZ3241
SGN/MMI/clw/23-84783
Attachments
•
Callaway & Price, Inc.
Real Estate Appraisers and Consultants
Licensed Real Estate Brokers
www.callawayandprice.com
Since 1972
SOUTH FLORIDA Please respond to the Treasure Coast office
1410 Park Lane South E-Mail: s. neill@callawayandprice.com
Suite 1
Jupiter, FL 33458
Phone (561)686-0333 August 15, 2023
Fax (561)686-3705
Stephen D. Shaw, MAI, AI-GRS
Cert Gen RZ1192
s.shaw@callawayandprice.com
Robert A. Callaway, MRICS
Mr. Gary Ritter
Cert Gen RZ2461
r.callaway@callawayandprice.com
City Administrator
City of Okeechobee
55 SE 3rd Avenue
TREASURE COAST
603 North Indian River Drive
Okeechobee, FL 34974
Suite 104
Fort Pierce, FL 34950
Phone (772)464-8607
Fax (772)461-0809
Dear Mr. Ritter:
Stephen G_ Neill, Jr., MAI
Cert Gen RZ2480
We have made an investigation and analysis of the 1.00-acre
s.neill@callawayandprice.com
vacant land located within the Okeechobee Commerce Center on
the south side of NE 12th Street in Okeechobee, Florida 34972.
SPACE COAST
The Subject Property will be further described both narratively
1120 Palmetto Avenue
Suite
and legally within the following Appraisal Report. The purpose of
Melbourne, FL 32901
this investigation and analysis was to provide our opinion of the
Phone (321)726-0970
Market Value of the Fee Simple Estate in the Subject Property as
Fax (321) 726-0384
of a date of Value of August 12, 2023.
Curtis L. Phillips, MAI
Cert Gen RZ2085
c.phillips@callawayandprice.com
This report has been prepared for our client and intended user,
The City of Okeechobee. The intended use was to assist the
CENTRAL FLORIDA
client for internal decision -making purposes. The scope of work
111 North Orange Avenue
performed is specific to the needs of the intended user and the
Suite800
intended use. No other use is intended, and the scope of work
Orlando, FL 32801
Phone (321)726-0970
may not be appropriate for other uses.
Fax (321) 726-0384
Curtis L Phillips, MAI
The scope of work performed included a complete analysis of the
Cert Gen RZ2085
Subject Property. A detailed scope of work description can be
c.phillips@callawayandprice.com
found in the body of this report.
Ir
L---A
E
Mr. Gary Ritter
City Administrator
City of Okeechobee
August 15, 2023
Page 2
Based upon the scope of the assignment, our investigation and analysis of the information
contained within this report, as well as our general knowledge of real estate valuation
procedures and market conditions, it is our opinion that the Market Value of the Fee Simple
Estate of the Subject Property as of a date of Value of August 12, 2023 was:
$145,000
A description of the property appraised, together with an explanation of the valuation
procedures utilized, is contained in the body of the attached report. For your convenience, an
Executive Summary follows this letter. Your attention is directed to the Limiting Conditions
and underlying assumptions upon which the value conclusions are contingent.
Respectfully submitted,
CALLAWAY & PRICE, INC.
Stephen G. Neill, MAI
Cert Gen RZ2480
*"ko � 1�74AN
Melanie M. Ivey
Cert Gen RZ3241
SGN/MMI/clw/23-84784
Attachments
2/28/24, 2:31 PM • Okeechobee County Property
Okeechobee County Property Appraiser
Mickey L. Bondi. CI.%
Parcel: « 3-15-37-35-0020-00000.0170 (34274) Aerial Viewer
Owner & Property Info Result: 1 of 3' 2023
CITY OF OKEECHOBEE
Owner 55 SE 3RD AVENUE ,. +
OKEECHOBEE, FL 34974-2903 _
Site NE 12TH ST OKEECHOBEE
CITY OF OKEECHOBEE COMMERCE CENTER LOT 17; LESS THE EAST TWO ACRES ""` "•" _ �• -
Description' OF LOT 17, CITY OF OKEECHOBEE COMMERCE CENTER, ACCORDING TO THE PLAT
THEREOF RECORDED IN PLAT BOOK 7, PAGES 10 THROUGH 14, OF THE PUBLIC -
Pictometery Google Maps
2022 2021 '..
ILE
2023 Certified Values
updated: 2/22/2024
RECORDS OF OKEECHOBEE COUNTY, FLORIDA, BEING MORE ...more»> y - sr, r
1.497AC15-37-35--�--
-_
Code MUNICIPAL VACTaxDlstrict I50- Okeechobee City limits)
rArea
(8089) (within
r}t
is he the Legal Description for this in legal transaction.t>
ve not to used as parcel any
Use:.noDepl of Revenue code. Please contact Okeechobee County Planning &Development at 863-763-5548nq Si
12111 n _
Property & Assessment Values44
— ...--
2022 Certified Values 2023 Certified Values
Mkt Land $134 730 Mkt Land _ $142,215 ' __ rewa,q k -.•k �lE
_
Ag Land $0 Ag Land $p y
A
1
Buildin $0 Building $0 s , a "
9
- _ _.
1 Ile,
XFOB XFOB_ $0 ,f
_$0
Just $134,730 Just $142,215 _ •'I
$0''' �""" ,-�.,,
Class $0 Class -- r
_ y
Appraised $134 730 Appraised $142,215
_
SOH/10% SOH/10%Cap .v
$48,010 $46,823
Cap [?] [71
$134,7307 Assessed $142.2151 x .•
5
Assessed �, �
Exempt 04 $86,720 Exempt 04 $95,392 " , '
Total county:$0 city:$0 Total county:$0 clty:$0Nilex�3 �"
Taxable other:$0 school:$0 Taxable other,$0 school:$0 `
"p � E►
Note: Property ownership changes can cause the Assessed value of the property to reset to full Market value, which a'
could result In higher property taxes.':��1r.>=
�+ Sales History
Sale Date
Sale Price
Book/Page
Deed
V/1
Qualification (codes)
RCode
-- 10/1/1979.
$379,000
0231/0716
WD
V
Q
Building Characteristics
Bldg Sketch Description" Year Bit Base SF Actual SF Bldg Value
_ __— NONE
Extra Features & Out Buildings (codes)
Cade Description Year Bit Value Units Dims Condition (% Good)
NONE
jLand Breakdown
Code Description Units Adjustments Eff Rate Land Value
067CI1--CITY IND(MKT) _1.497 AC 10000/1.00001.0000// $95,000/AC $142,215
Search Result: 1 of 3
(0 Okeechobee County Property Appraiser I Mickey L. Bandi. CFA I Okeechobee, Florida 1 863-763-4422 by: GrlalyLogle.eom
https://www.okeechobeepa.com/gis/ 1/1
2/28/24, 2:31 PM • Okeechobee County Property A0er
3 _
Okeechobee County Property Appraiser
Nlickey L. Bandi. CFA
Parcel: « 3-1537-35-0020-00000-017A (34275) » Aerial Viewer Pictometery Google Maps
Owner & Property Info 2023 2022 '. 2021 2020 2019
CITY OF OKEECHOBEE w W 17
Owner 55 SE 3RD AVENUE +'' "r s
m
2023 Certified Values
updated: 2/22/2024
_ OKEECHOBEE, FL 34974
Site NE 12TH ST OKEECHOBEE
CITY OF OKEECHOBEE COMMERCE CENTER BEING A PORTION OF LOT 17, CITY OF
OKEECHOBEE COMMERCE CENTER, ACCORDING TO THE PLAT THEREOF B�' s$s., +rT•p.. q.
Description' RECORDED IN PLAT BOOK 7, PAGES 10 THROUGH 14, OF THE PUBLIC RECORDS OF
OKEECHOBEE COUNTY, FLORIDA, AND BEING MORE PARTICULARLY D ...more»>
Area 1 AC S/T/R
Use C( 9) ITax District 150 - Okeechobee (within City limits)
-The Descriot above is not to b used as the Legal Description for this parcel in any legal transaction.. 4A , h , $' k w -
^The Use Code is a Dept of Revenue code. Please contact Okeech b County Planning & Development at 86 i 76s-5618 - 7 _
for —In info - "/
9
Property & Assessment Values r
2022 Certified Values 2023 Certified Values _ �111111M 'i R 1�
tG
Mkt Land $63,000 Mkt Land $66,500
Ag Land $0 Ag Land $0
Building $0 Building $0
XFOB $0 XFOB $0
Just $63,000 Just S66.500
Class $0 Class $0
Appraised $63,000 Appraised $66,500
SOH/10 %
$22 449 S OH/1o% Cap
$21,894
Cap 17]171
Assessed
$63,000 Assessed
$66,500
Exempt 04
$40,551 Exempt 04
$44,606
Total
county:$0 clty:$0 Total
county:$0 city:$0
Taxable
other:$0 school:$D Taxable
other:$0 school:$0
Note: Property ownership changes
can cause the Assessed value of the property to reset to full Market value, which
could result in higher property taxes.
Sales History
Sale Date
Sale Price
Book/Page
il
0667/1819
0616/0393
0231/0716
Deed
WD
WD
WD
1J
V
�y
r CIe`
arc
—+il y
Qualification
U
Q
Q
RCode
18
v Building Characteristics
Bldg Sketch Description' Year Bit Base SF Actual SF Bldg Value
NONE _.
Extra Features & Out Buildings (codes)
Code Description Year Bit Value Units Dims Condition (% Good)
NONE
Code kdown Land Brea
Description Units Adjustments Eff Rate Land Value
067CI1 CITY IND (MKT) 1.000 AC 1 0000/1.00001.0000/.7000000 / $66,500 /AC I $66,500
0 Okeechobee county Property Appraiser I Mickey L Bandi. CFA I Okeechobee, Florida I e63-763-4422 by: Grialylogie.com
https://www.okeechobeepa.com/gis/ 1 /1
2/
28/24, 2:31 PM • Okeechobee County Property
i
Okeechobee County Property Appraiser
Mickey L. aandi. CFA
Parcel: «, 3.15.37.35.0020-00000.017B (34276) »
Owner & Property Info
CITY OF OKEECHOBEE
Owner 55 BE 3RD AVENUE
OKEECHOBEE, FL 34974
Site NE 12TH ST OKEECHOBEE
CITY OF OKEECHOBEE COMMERCE CENTER BEING A PORTION OF LOT 17, CITY OF
Description' OKEECHOBEE COMMERCE CENTER, ACCORDING TO THE PLAT THEREOF
RECORDED IN PLAT BOOK 7, PAGES 10 THROUGH 14, OF THE PUBLIC RECORDS OF
OKEECHOBEE COUNTY, FLORIDA, AND BEING MORE PARTICULARLY D
Area 1 AC S/T/R 15-37-35
Use Code" I MUNICIPAL VAC (8089) Tax District 150 - Okeechobee (within City limits)
'The Description above is not to be used as the Legal Description for this parcel in any legal transaction.
..The use Code is a Dept or Revenue code Please contact Okeechobee County Planning & Development at 863-7635548
for zoninginfo.__
2023 Certified Values
updated: 2/22/2024
Aerial Viewer Pictometery Google Maps
2023 2022 2021 2020 2019
4i kr' + 4
�i'
t'r.Fto t x kl �fli%
Property & Assessment Values
a
2022 Certified Values
2023 Certified Values
Mkt Land
$63,000 Mkt Land
$66,500
Ag Land
$0 Ag Land
$0
Building
$0 Building
$0
XFOB
$0 XFOB
$0
Just
$63,000 Just
$66,500
Class
$0 Class
$0 °T
Appraised
$63,000 Appraised
$66,500
Cap
Capessed
--
-
$63, 00 AsOsessed
$66,500
Exempt
oa
$40,551 Exempt
06
Total
oanry:$0
ry:$0
untyty' : $OChoos$0
Taxable
other:$O school:$0 Taxable
otn '.
Note: Property ownership changes can cause the Assessed value of the property to reset
to full Market value, which
could result In higher property taxes.
Sales History
Sale Date Sale Price
12/23/2009 ff
11/9/2006 -- $1
10/1/1979 V
look/Page
Deed
0680/1289
WD
061610393
W D
0231/0716
WD
to
wrp # Ida ! i"ff
41�
` nr
+A
*Y —•r d
C'Lx��4•w
V/I Qualification (codes) RCode
V U 18
_ V Q
V Q
1v Building Characteristics
Bldg Sketch Description'
Year Bit Base SF Actual SF Bldg Value
NONE
Extra Features & Out Buildings (codes)
Code Description Year Bit
Value Units Dims Condition(% Good)
NONE
Land Breakdown
Code
Description
Units
Adjustments
Eff Rate
Land Value
067Ci1
CITY IND (MKT)
1.000 AC
1.0000/1.0000 1.0000/.7000000 /
$66,500 /AC
$66,500
0 Okeechobee County Property Appraiser I Mickey L. Band, CFA I Okeechobee, Florida 1863-763-4422 by: Griz7JyLogic.conn
https://www.okeechobeepa.com/gis/ 1/1