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Action Item
DATE: Tuesday, December 05, 2017
TO: School Board Members
FROM: Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve Purchase and Sale Agreement Between the School Board of Hillsborough County, Florida and Baltazar and Beatriz Saenz for 5.00 +/- Acres Located on County Route 672, Balm Road, Riverview, Florida, for High School "TTT" in South Hillsborough County (REVISED ATTACHMENT - Page 25: Added Paragraph)
EXECUTIVE SUMMARY
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 5.00+/- acres along the boundary of 8.93+/- acres of property currently under agreement for purchase approved by the School Board on September 19, 2017.  This additional property would increase the overall size of the campus.  Two appraisals were obtained establishing fair market value of $350,000 and $400,000 and the seller has accepted the purchase price of the higher value.  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.  It is customary in real estate transactions that the seller will execute all contracts after buyer has approved and executed the agreement.
STRATEGIC OBJECTIVES
• Construct and maintain facilities that create an environment conducive to teaching and learning
FINANCIAL IMPACT (Budgeted:  Yes)
Funds in the amount of $400,000.00 will be available in the 610-7400-660. For tracking purposes, the project number specific to this agenda item is 8620. As of Tuesday, December 05, 2017, the remaining balance less encumbrances for this line item equaled $400,000.00.

The funds for site acquisition of 5.00+/- acres on the north side of Balm Road (CR 672), Riverview, Florida as part of the High School "TTT" campus will be derived from Impact Fees currently held by the Board of County Commissioners of Hillsborough County and will be requested upon final real estate closing under separate School Board Resolution.
EVALUATION
SUBMITTED BY:  Denise A. Taraschi, Property Specialist
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 7.06R
Hillsborough County Public Schools (Florida) * Mtg.#20171205_824 (Board Meeting) * Section C Item# 7.06R