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Action Item
DATE: Tuesday, September 19, 2017
TO: School Board Members
FROM: Jeff Eakins, Superintendent
Approve Purchase and Sale Agreement Between the School Board of Hillsborough County, Florida and Romualdo and Marisol Pineda for 8.93 +/- Acres Located on County Route 672, Balm Road, Riverview, Florida, for High School "TTT" in South Hillsborough County
The School Board of Hillsborough County, Florida, a body corporate, currently owns 37.74 +/- acres on the north side of Balm Road, (CR 672) in Riverview, Florida.  To increase the acreage to enable the School Board to construct a high school in the South County region, district staff has been working with the owner of 8.93 +/- acres along the School Board's western boundary.  Two appraisals were obtained establishing the fair market value of the property and the seller has accepted the purchase price of the average of the two appraisals at $620,000.  Upon School Board approval and contract ratification, district staff will begin the due diligence process for zoning and environmental testing to ensure that the property is acceptable for school purposes.

The Purchase and Sale Agreement has been prepared by School Board real estate legal counsel.  The funds for the site acquisition will be derived from Impact Fees currently held by the Board of County Commissioners of Hillsborough County.  These funds will be requested from the County by School Board Resolution after final closing to include the purchase price, commission, legal and due diligence testing fees.
• Construct and maintain facilities that create an environment conducive to teaching and learning
Funds in the amount of $670,000.00 will be available in the 610-7400-660. For tracking purposes, the project number specific to this agenda item is 8620. As of Wednesday, August 23, 2017, the remaining balance less encumbrances for this line item equaled $670,150.00.

The funds for site acquisition of 8.93 +/- acres along the western boundary of School Board of Hillsborough County property on Balm Road (CR 672), Riverview, Florida will be derived from Impact Fees currently held by the Board of County Commissioners of Hillsborough County upon final real estate closing under a separate School Board Resolution.

SUBMITTED BY:  Denise A. Taraschi, Property Specialist, Growth Management
Lorraine Duffy Suarez, General Manager, Growth Management & Planning
Christopher Farkas   Dr. Alberto Vázquez
Chief Operating Officer
(813) 272-4004
  Chief of Staff
(813) 272-4986
    C 7.01
Hillsborough County Public Schools (Florida) * Mtg.#20170919_819 (Board Meeting followed by Public Hearing) * Section C Item# 7.01