HomeCommunity NewsBradenton BeachPines Trailer Park purchase...

Pines Trailer Park purchase offer accepted

BRADENTON BEACH – A May 8 letter Largo-based attorney David Luczak sent to the Pines Trailer Park Homeowners Association board members addresses the sale of the waterfront mobile home park. The accepted purchase offer appears to give the Pines Trailer Park’s permanent and seasonal residents at least five years to remain in their mobile homes and make their future plans.

The pending sale follows the Pines Trailer Park residents’ unsuccessful efforts to form a co-op and raise enough money to purchase the mobile home park owned by Richard and William Jackson’s Jackson Partnership LLLP.

Pines Trailer Park purchase offer accepted
Some of the mobile homes in the Pines Trailer Park have direct waterfront views. – Joe Hendricks | Sun

Luczak’s letter begins by saying, “As you know, this office represents the owners and management of the Pines Trailer Park. In accordance with the provisions of Florida Statutes 723.071(2), we hereby notify you that we have received a bona fide offer to purchase Pines Trailer Park. We intend to consider and accept this offer. The terms are as follows:

  • Purchase Price: $16.25 million, which includes all park-owned mobile homes, recreational vehicles, equipment, materials, vehicles, buildings, etc.
  • Initial deposit: $1 million non-refundable deposit within three days of the execution and delivery of the purchase and sale agreement.
  • Due diligence: The due diligence period shall run for 15 days from the date of the execution of the purchase and sale agreement.
  • Additional deposit: At the end of the due diligence period, the buyer shall deposit an additional $1 million. At that time, the entire $2 million deposit shall be non-refundable.
  • Closing: Forty-five days from the successful completion of the due diligence period this transaction shall close unless extended by agreement of the buyer and seller,” according to Luczak’s letter.”

Luczak’s letter does not identify the person or entity purchasing the park.

The final term of the offer appears to allow the current Pines residents and mobile homeowners five to seven more years to remain in the park:

  • “Seller financing: Seller to hold a purchase money mortgage on the subject property in the amount of $8.125 million at 4.5% interest payable with interest-only payments for five years and no right of pre-payment. Buyer may not seek a land use change during the period of the mortgage financing. Seller may agree to a two-year extension on financing with interest-only monthly payments and the same terms as the original five-year mortgage,” according to Luczak’s letter.
Pines Trailer Park purchase offer accepted
Several residents’ meetings were held inside the Pines clubhouse. – Joe Hendricks | Sun

While attempting to raise the money needed to buy the park, the Pines residents and homeowners participated in several community meetings that were held in the Pines clubhouse building. The printed minutes for the April 18 meeting address the rezoning that would be required in order to redevelop the Pines property as something other than a mobile home park.

“The new purchaser of the park will have to get the property rezoned in order to change the land use from a resident park to something else. It is hard to guess how long that process would take,” according to the April 18 meeting minutes.

Rezoning the Pines’ property from its current M-1 Mobile Home Park District zoning designation would require the approval of the Bradenton Beach City Commission after the proposed rezoning is first reviewed by city staff and the city’s planning and zoning board.

Related coverage

 

Pines purchase efforts fall short

Most Popular

More from Author

Latest Pine Avenue bid rejected

ANNA MARIA – Following Mayor Dan Murphy’s recom­mendation, the city commission...

Candidate qualifying commences soon

ANNA MARIA ISLAND – The candi­date qualifying periods will soon begin...

Farrington secures petition signatures

MANATEE COUNTY – Mana­tee County Supervisor of Elec­tions candidate Scott Farrington...

Mayors discuss law enforcement consolidation

ANNA MARIA – Anna Maria Mayor Dan Murphy and Holmes Beach...

First win for Shady Lady

ANNA MARIA – After two halves of youth soccer action, team AMI Coconuts could not put a point on the scoreboard against The Intuitive Foundation squad in the 8- to 10-year-old recreational soccer league at The Center of Anna Maria Island. The Coconuts team put up a strong...

Buyers losing hope

Tired of waiting for mortgage rates to come down? You’re not alone. Every potential buyer out there is waiting for the same thing, the problem is the Federal Reserve isn’t moving the needle, so it might be a long wait. The Federal Reserve made no move in their...

Try a beach fishing adventure

Are you an accidental angler? Someone who might not be passionate about fishing but who has always wondered what all the hype is about? Maybe you’re an avid freshwater angler from the north unfamiliar with the salt. Whatever your situation, if you want to get a taste...

Latest Pine Avenue bid rejected

ANNA MARIA – Following Mayor Dan Murphy’s recom­mendation, the city commission rejected the latest Reimagining Pine Avenue bid received from C-Squared. On May 9, the commission voted 5-0 in favor of rejecting C-Squared’s approximately $1.4 million bid to construct a one-block Reimagining Pine Avenue prototype area that was...

Candidate qualifying commences soon

ANNA MARIA ISLAND – The candi­date qualifying periods will soon begin for those seeking election or reelection during the 2024 election cycle. Anna Maria provides a two-week qualifying period. Bradenton Beach, Holmes Beach and Manatee County provide one-week qualifying periods. All city commission and may­oral terms on the...

Farrington secures petition signatures

MANATEE COUNTY – Mana­tee County Supervisor of Elec­tions candidate Scott Farrington has secured enough petition signatures to avoid paying a $10,133 qualifying fee. The one-week qualifying period for county candidates begins on Monday, June 10 at noon and ends on Friday, June 14 at noon. Farrington will face...

Captain: Derelict boats looming issue

CORTEZ - Tour boat Capt. Kathe Fannon is questioning why authorities are focusing on the removal of Raymond “Junior” Guthrie’s net camp from the waters off Cortez while ignoring more than 20 derelict boats in the same waters. “The net camp is who we are, it’s our heritage,”...

Season’s first shorebird nest discovered

BRADENTON BEACH – The first shorebird nests this year on Anna Maria Island have been spotted and marked by Anna Maria Island Turtle Watch and Shorebird Monitoring volunteers. A colony of least terns began nesting the week of May 6 at an undisclosed location in Bradenton Beach. A...

Mayors discuss law enforcement consolidation

ANNA MARIA – Anna Maria Mayor Dan Murphy and Holmes Beach Mayor Judy Titsworth are not on the same page when it comes to the potential consolidation of law enforcement services, with each mayor preferring their city’s law enforcement agency take over policing in both cities. As is...

March tourism numbers soar

ANNA MARIA ISLAND – March tourism numbers are up from last year in all three Island cities, significantly so in the City of Anna Maria. Each month, the Manatee County Tax Collector’s Office reports how much income the county’s 5% tourist tax produces. The tax is collected from...

Water quality advisory in effect at Palma Sola

PALMA SOLA - The Florida Department of Health in Manatee County (DOH-Manatee) has issued a water quality advisory for Palma Sola South due to high bacteria levels. Tests on May 6 and 8 indicate that the water quality at Palma Sola South does not meet the recreational water...