Title: RE3 Purchase Contract For Property Adjacent To South Grade Elem.

Recommendation:
I recommend the School Board approve the Real Estate Sale and Purchase Contract for acquisition of Lot 16, Block 219 adjacent to South Grade Elementary School Campus, as herein described; approve the Resolution declaring structure 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:

• District must acquire additional property to meet the needs for Class Size Reduction.
• This 6,750 SF property was not previously on the market for sale.  As a result the owner has been reluctant to sell. (see Parcel Map Exhibit  “A”).
• The contract price is  $100,000.00.  The appraised value is $85,000.
• Staff negotiated the price of this property with no attorney’s fees, closing costs, no eviction costs, nor eminent domain costs.
• Demolition costs:  $15,000
• Recording fees:  $50.00

Financial Impact:
The financial impact to the Capital Projects Funds Budget is $115,050.00.

For Additional Information, contact:

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

Attachments (list):
ExhibitASouthGrade.pdf
LegalCheckList.pdf
SouthGradeDataSheet.pdf