I recommend the School Board approve the Real Estate Sale and Purchase Contract for acquisition of a vacant property containing 0.08 acres, more or less, located on Windsor Avenue, West Palm Beach, Florida which is needed for the modernization and replacement of the Roosevelt Full Service School Facility; and authorize the Superintendent and Chairman to sign all necessary documents.

• The FY 2007-2011 Five Year Plan includes the modernization and replacement of Roosevelt Full Service, a 35 year old facility.

• The vacant property located on Windsor Avenue, West Palm Beach, containing 0.08+ acres will be part of the Roosevelt Full Service campus (See Exhibit “A”).

• The comprehensive modernization is needed to provide an improved educational environment for the present and future generations of students.

• The contract price for the facility property is $38,000.00.  The appraised value of the vacant property is $35,000.00.

• The Purchase price was negotiated with the owner as a willing seller.

• A water meter on the property will be relocated by the owner.

• A Phase I Environmental Audit has been completed. There are no environmental concerns.

The financial impact to the Capital Project’s Fund Budget is $38,000.00.