Title:
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Approve and authorize the Chairman to execute a Purchase Agreement related to Project Parcel #102 for a drainage easement necessary for the Slavia Road Improvement Project (7,036 ± SF in total) between Stone’s Business Center, LLC and Seminole County for $160,000.00, as full settlement and any other claim for compensation from which Seminole County might be obligated to pay relating to the parcel. District1 - Dallari (Stephen Koontz, Assistant County Manager) Requesting Department - Public Works
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Division:
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Administrative Services-Real Estate
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Authorized By:
Shane Fischer, Real Estate Division Manager
Contact/Phone Number:
Neil Newton/407-665-5711
Background:
This parcel (#102) has been identified as being needed for property interests necessary for the Slavia Road Improvement Project. The owner (Stone’s Business Center, LLC / Tax ID #16-21-31-5CA-0000-067A) of the property located on the south side of Slavia Road, approximately 160 feet southeast of Red Bug Lake Road, in Oviedo, Florida, has agreed to sell and convey said property interests to Seminole County for the sum of $160,000.00 inclusive of all fees and costs.
The parent property is vacant and consists of 7.392 ± acres of land. The County’s valuation of this acquisition is $84,500.00. The County’s incentivized offer amount was $116,090.00. After negotiations with the owner through their attorney, a settlement was reached at $160,000.00, inclusive of all fees and costs.
This proposed settlement amount, inclusive of all fees and costs is reasonable under the circumstances inherent in the eminent domain process. If this property acquisition were to proceed to eminent domain, litigation costs and costs to update the appraisals on both sides, along with other potential expert fees will have to be paid by the County. These costs would certainly exceed this proposed settlement amount.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a Purchase Agreement related to Project Parcel #102 for property interests necessary for the Slavia Road Improvement Project (7,036 ± SF in total) between Stone’s Business Center, LLC and Seminole County for $160,000.00, as full settlement and any other claim for compensation from which Seminole County might be obligated to pay relating to the parcel.