Title: RE-4 (03-W) Royal Palm Beach Area Elementary

Recommendation:

I recommend the School Board approve the Real Estate Sale and Purchase Contract for acquisition of an improved property containing 4.77 acres, and a vacant parcel containing 4.77 acres, more or less, located in Unincorporated Palm Beach County, Florida, which is needed for the New Elementary School campus 03-W, as herein described; approve a resolution declaring structure(s) 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 FY 2007-2011 Five Year Plan includes the New Elementary School 03-W.

• The properties located at 407 and 469 Marginal Road, Unincorporated Palm Beach County contain 9.54 acres. (See Exhibit “A” and "A1")

• 03-W is intended to relieve the following Elementary Schools: Cholee Lakes, Cypress Trails, Equestrian Trails and Royal Palm Beach.

• The Contract price for the improved property is $3,100,000.00.  The averaged appraised value of the properties is $2,816,000.00.

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

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

Demolition Costs: $60,000.00

Financial Impact:
The financial impact to the Capital Project’s Budget Fund is $3,160,000.00

For Additional Information, contact:

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

Joseph M. Sanches

Attachments (list):
RE-4 Ehibit A.pdf
RE-4 Exhibit A1.pdf
RE-4 03-W Elem Checklist.pdf
Q&ARE4.doc
Q&ARE4.doc
Resolution