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Title: RE-1 GL Homes/Hagen Road Elementary School Exchange Agreement Recommendation:
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I recommend the School Board approve the Fifth Amendment to the Agreement for Purchase, Sale and Exchange between GL Homes of Florida II Corporation and the School Board of Palm Beach County involving the existing Hagen Road Elementary School site; authorize the Chairman and the Superintendent to sign all necessary documents. |
Description:
- On February 21, 2006, the School Board approved the Fourth Amendment to Agreement for Purchase, Sale and Exchange. The Agreement involves the conveyance to the School Board of 13-acre +/- site for a new Elementary School, plus cash considerations, in exchange for the conveyance to GL Homes of Florida II Corporation of land that consists of the 14-acre +/- existing Hagen Road Elementary School site, and approximately 26-acres +/- of vacant land adjacent to and west of the existing school site.
- This Special Warranty Deed will correct the discrepancy between the legal description of the new school site that was conveyed to the School Board and the legal description of the new school site reflected on the plat prepared by GL Homes.
- GL Homes has requested the School Board agree to adjust the boundaries of the new school site.
- Program Management has reviewed the boundaries of the proposed new school site and determined that it will not impact the construction project.
- GL Homes will pay all fees, costs and expenses associated with preparing a revised legal description, recording a corrective deed, and preparing a revised survey.
- GL Homes will also pay any fees, costs, and expenses up to $10,000 associated with revising any Certificates of Participation documents.
Financial Impact:
N/A
For Additional Information, contact:
Joseph M. Moore (moorej@palmbeach.k12.fl.us) Joseph M. Sanches
Attachments (list):
RE-1 5th Amendment Executed by GL.pdf
RE-1 Checklist.pdf
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