Eutis Seeks to Repurchase Land from Lake County

To sell the county’s fairgrounds back to Eustis, Lake County is currently negotiating with representatives of the city.

On 2101 County Road 452, the city donated 28.5 acres to the county in 1967 so they could build the Lake County Fairgrounds, which still stand today.

On April 18, Eustis Mayor Michael Holland wrote Lake County Chairman Sean Parks to express an interest in the property and that a recent appraisal by Clayton, Roper & Marshall did not expect it to reach the $2.87 million price.

In the coming weeks, Lake County and Eustis officials will negotiate a sale of the property and bring it back into its possession.

Parks said during the meeting that the sale of the property would be part of the county’s plan to move the fairgrounds to Tavares, which are likely to include an expo hall.

“The sale of that property fits into the plan,” he explained. “We just need to decide what price we are going to ask for.”

According to Parks, the price will be somewhere between the higher appraisal and an earlier appraisal of roughly $1.6 million from 2018.

There are three buildings with 33,858 square feet of space each, as well as two large pavilions on the site.

In the letter or during the meeting, the city did not specify a potential use for the property, and officials in Eustis could not be reached immediately for comment.

The property could be used for affordable housing, according to Brad Parker, a land expert at Longwood-based Southern Realty Enterprises.

Housing is in high demand in the county, and the purchase of the land could provide the city with an opportunity to facilitate the development it desires on the land and provide the best return to taxpayers.

“This is the perfect example of a property that could eventually be put to a better use,” Parker said.

The National Low Income Housing Coalition estimates that there is a shortage of more than 70,000 affordable homes in metro Orlando for residents earning less than 50% of the area’s median income.

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