i) require the City to transfer ownership of the Property to the District, or ii) require the

Apopka City Commission Meeting · 2026-05-20 · agenda_item

This item concerns a financial agreement between the City of Apopka and a District regarding a property. The District is proposing two options: either the City transfers ownership of the Property to the District, or the City must repay the District $4,492,273.00 plus 5% annual interest. The District will notify the City of its choice. If the District takes ownership, the City will provide a deed. If the District requires repayment, the City has 18 months to pay. Upon full payment, the District will release restrictions on the Property's use, which will then be recorded. This situation is currently under review by the Apopka City Commission. The potential transfer or repayment of funds could involve legal services, financial consulting, and potentially real estate services if ownership changes. Engaging with city and district representatives early could provide insight into the financial and legal aspects of this agreement.

amount funded by District

4,492,273.00

interest rate

5 % per year

repayment period

18 months