Web posted Tuesday, May 11, 2004

WH awaits appraisal for Chain of Lakes Complex

By SANDI MARTIN
sandi.martin@newschief.com

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WINTER HAVEN - City officials should know soona possible selling price soon for the Chain of Lakes Complex, if the Cleveland Indians follow through with plans to move to Arizona.

Appraisers from Lakeland-based Wheeler and Wheeler Inc. should submit their findings "soon," Winter Haven Community Redevelopment Agency Director Mike McMahon said Monday.

The property appraiser's office has the 13 parcels that comprise the Chain of Lakes Complex - including the Dome - valued at $17 million, he said.

But "that's typically lower than an appraisal," McMahon said.

City officials announced last month that the team had broken off talks of building a new stadium closer to U.S. Highway 27. That the Indians had been looking to move their spring training operation elsewhere is no secret, considering that the team renewed its lease for Chain of Lakes Park last year only after deals in other parts of the state fell apart.

Seemingly unfazed by the news, city officials said the team's leaving would allow them to sell the 60-acre complex property to a private developer, spurring tax revenue.

A recent study suggests the property be developed into a lakeside shopping center with retail stores, residential housing and an entertainment element blended in.

Private ownership of the complex would ultimately benefit the CRA, as it lies in the agency's downtown district. City Manager David Greene has speculated that if sold and developed in such a manner, the complex could generate as much as $1.2 million to $1.5 million for the agency, which uses tax revenue to do improvements in its districts.

But first, the city needs the appraisal to come back.

Leisure Services Director Michael Stavres said an appraiser walked through the facility on Monday "to get a better understanding of the buildings here."

If commissioners opt to sell the property, the city plans to use the money from the sale to build a new leisure services headquarters on land elsewhere.

Stavres said the ideal property would have more than 100 acres to accommodate all the facilities and recreation fields the city would like to have.

"That's become more and more difficult to find, and so what we may have to do is shift focus to parcels that are smaller in size," he said.

But staff is also looking into the possibility that Winter Haven may have to reimburse the county for helping pay for the stadium in 1993 via a bond issue.

"That's one of the things we're trying to determine at this point," Stavres said.