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New Business - Real Estate

Title: RE5- New Riviera Beach Area High School

Recommendation:
I recommend the School Board approve the Real Estate Sale and Purchase Contract for acquisition of imed parcels of land containing 1.16 acres, more or less, Riviera Beach for the New Riviera Beach Area High School Campus (02-MMM), as herein described; approve 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:

 

  • The School Board approved the conceptual plan for the relocation of Suncoast High School and the construction of the New Riviera Beach Area High School (02-MMM) on the future expanded site of Suncoast High School.

 

  • The New Riviera Beach Area High School (02-MMM) is included in the Five Year Capital Plan.

 

  • The expansion of the existing Suncoast High School campus for the New Riviera Beach Area High School (02-MMM) requires the acquisition of an additional +10 acres. (2.98 + acres have already been acquired). See Exhibit “A”.

 

  • The improved properties located at 720 West 29th Street, 700 West 29th Street, 680 West 29th and  2934, 2961, 2938, 2940 and 2943 Avenue “J” contain 21 rental units.

 

  • The purchase  price is $2,090,000.00.  The averaged appraised value of the properties is $1,882,000.00.

 

  • The property owner was an unwilling seller and engaged the services of an attorney.  Staff was able to negotiate an agreement with the owner’s attorney.

 

  • The settlement includes seller’s attorney fees and other associated costs totaling $58,400.00.

 

  • Buyer will pay $13,335.00 for the Title premium and closing costs.

 

  • In the event the closing is delayed by the School District a $200.00 per diem closing extension cost will be incurred.

 

  • A Phase I Environmental Audit for the expansion area of which this property is a part thereof, has been completed.  The results do not show a need for a Phase II.

 

  • An Asbestos Analysis will be performed upon acquisition of the property due to the age of the structure.

 

Demolition Costs: $120,000.00.

Financial Impact:
The Financial impact to the Capital Projects Fund Budget is $2,281,735.00

For Additional Information, contact:
Joseph M. Moore (moorej@palmbeach.k12.fl.us)
Joseph M. Sanches

Attachments (list):
RE-5 New Suncoast Area H.S. Exhibit A-101806.pdf
RE-5 New Riviera Beach H.S. Demolition Resolution.pdf
RE-5 Beneficial Interest.pdf
RE-5 Checklist.pdf

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