Title:
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Approve and authorize the Chairman to execute a Purchase Agreement and Addendum related to Parcel No. 804 for property interests needed by the State of Florida, Department of Transportation (FDOT) for a portion of the Beyond I-4 Ultimate Segment 3 Project (FP No. 242592-4) (2.304± acres) between FDOT and Seminole County for $1,039,323.00, as full settlement for the interests being acquired. District5 - Herr (Jean Jreij, P.E., Public Works Director)
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Division:
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Public Works - Engineering
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Authorized By:
Jean Jreij, P.E.
Contact/Phone Number:
Neil Newton/407-665-5711
Background:
A necessity exists for certain interests now owned by Seminole County (Parcel No. 804) to be acquired by the State of Florida, Department of Transportation (FDOT) for the State Road 400 Beyond I-4 Ultimate Segment 3 Project (FP No. 242592-4).
The parent property is located at the southeast quadrant of US Highway 17-92/Monroe Rd and Sunrail Drive. The parent property is vacant and consists of 2.886± acres of land. The area of the easement interest to be acquired is 2.304± acres. FDOT’s appraisal valued the easement acquisition at $810,900.00. The County’s appraised value for this acquisition is $1,596,500.00. After discussion with FDOT a final settlement was reached at $1,039,323.00. This amount includes the cost of the County’s appraisal. Although less than the County’s appraised value, consideration was given to the infrastructure improvements and benefits the County will gain upon completion of this project by FDOT.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute a Purchase Agreement and Addendum related to Parcel No. 804 for property interests needed by the State of Florida, Department of Transportation (FDOT) for a portion of the Beyond I-4 Ultimate Segment 3 Project (FP No. 242592-4) (2.304± acres) between FDOT and Seminole County for $1,039,323.00, as full settlement for the interests being acquired.