Title: Highland Elementary - Real Estate Purchase Contract for Acquisition of Property

Description:

• Class size reduction and Program needs require that additional land be purchased.
• The subject, ± .15 acre residential property, adjacent to the Highland Elementary School Campus was one of the parcels identified to provide the necessary additional land (see Parcel Map Exhibit  “A”).
• The purchase price was negotiated, with the owner as a willing seller, eliminating the need for eminent domain and the costs associated with it.
• The contract price for the improved property is $172,500.   The appraised value of the property is $150,000.
• The Seller will remove appliances and personal items prior to closing.
• A Phase I Environmental Audit has been completed on the site.  There are no environmental concerns on this property.
• Demolition costs:  $15,000
• Recording fees:  $50.00

Recommendation:

I recommend the School Board approve the Real Estate Sale and Purchase Contract for acquisition of Lot 5.2, Block 1, Citrus Park Addition located at 525 North “A” Street, Lake Worth, which property is adjacent to the Highland Elementary School Campus, 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.

Financial Impact:
The financial impact to the Capital Projects Funds Budget is $187,550.00.

For Additional Information, contact:
   

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

Attachments (list):
Eagenda525HighlandAveAttachment.doc
BarrettLegalCheckoffList.pdf