Title: RE1 Purchase Contract For Property Adjacent to Highland Elem.

Recommendation:
I recommend the School Board approve a Real Estate Sale and Purchase Contract for the acquisition of certain real property consisting of ± .15 acres located on North “A” Street, Lake Worth, Florida, as herein described, which property shall be designated for the campus expansion of Highland Elementary School; a Resolution declaring structures located on the property to be acquired by the School Board to be unnecessary for educational purposes, surplus and without commercial value; and authorize the Superintendent and Chairman to sign all necessary documents.

Description:

• Highland Elementary School’s campus expansion for class size reduction (Project No. 0671-8950) is a prioritized project in the Five Year Capital Plan.
• Program Management, Planning, and Real Estate Services recommended acquisition of the six properties because of their ideal location.
• This property was not previously on the market for sale and produces an annual income of $10,800 for the owners.  As a result, the owners have been reluctant to sell. (See Parcel Map, Exhibit “A”)
• The Contract price is $195,000.  The appraised value is $165,000.
• Staff negotiated the price of this property with no attorney’s fees, or closing costs; nor the use of eminent domain costs.
• A Phase I Environmental Audit has been conducted.  There are no environmental concerns.
• Demolition costs $20,000.00.
• Recording fees $50.00.

Financial Impact:
The financial impact to the Site Acquisition Budget is not to exceed $215,050.

For Additional Information, contact:

Joseph M. Moore (moorej@Mail.palmbeach.k12.fl.us)

Attachments (list):
ExhibitAMapHighland.pdf
DataPanelHighland.pdf
LegalContract Checklist.pdf
HighlandDemolitionResolution.pdf
RE1 Q&A 031605 Board Meeting.doc