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New Business - Real Estate

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

Description:

§         This parcel is needed for the future modernization of

      Northboro Elementary School.  (See Parcel Map

      Exhibit “A”).

 

§         The subject property has been listed for sale; and the

      owners were contacted. 

 

§         The contract price for this improved property is

       $229,000.  The appraised value of the property is

       $220,000.

 

§         The purchase price was negotiated, with the owner

      as a willing seller, without the need for eminent

      domain and the costs associated with it..

 

§         A Phase I Environmental Audit has been completed

      on this site.  There are no environmental concerns on

      this property.

 

            §        Demolition Costs:  $20,000.

 

            §        Recording Fees: $50.00

 

Recommendation:
I recommend the School Board approve the Real Estate Sale and Purchase Contract for acquisition of Northwood Addition, Lots 9 & 10, which property is adjacent to the Northboro Elementary School campus, as herein described; approve the 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 Site Acquisition Budget is $249,050.

For Additional Information, contact:

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

         Joseph M. Sanches 

Attachments (list):
EagendaNorthwoodAdditionAttachment.doc
NorthboroRealeLegalChecklist.pdf

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