Agenda Item Cover

According to Florida Statute 1013.28, on October 17, 2017, the School Board of Hillsborough County, Florida, authorized the Superintendent to dispose of real property, if said property was deemed surplus and unnecessary for educational purposes. By School Board Resolution, the property located at Edison Elementary, on Osborne Avenue, east of North 16th Street, Tampa, Florida (a portion of folio 157202.0000) has been deemed surplus, and is no longer required for educational purposes. On October 16, 2018, the School Board approved Spot Survey 4.12 recommending the disposition of the 0.39+/- acre vacant property as required by the Florida Department of Education.


DATE:	Tuesday, October 16, 2018
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve Purchase and Sale Agreement for Property Located on Osborne Avenue, East of North 16th Street, Tampa, Florida
EXECUTIVE SUMMARY
According to Florida Statute 1013.28, on October 17, 2017, the School Board of Hillsborough County, Florida, authorized the Superintendent to dispose of real property, if said property was deemed surplus and unnecessary for educational purposes. By School Board Resolution, the property located at Edison Elementary, on Osborne Avenue, east of North 16th Street, Tampa, Florida (a portion of folio 157202.0000) has been deemed surplus, and is no longer required for educational purposes. On October 16, 2018, the School Board approved Spot Survey 4.12 recommending the disposition of the 0.39+/- acre vacant property as required by the Florida Department of Education. Two property appraisals were performed with values of $48,000 and $51,300; an asking price of $51,300 was established. District staff has received an offer to purchase through the district’s real estate broker with the full asking amount of $51,300. This offer is a cash transaction with a contingency that the buyer is able to subdivide the property into 3 single family, buildable lots no later than June 1, 2019.
STRATEGIC OBJECTIVES
• Establish a strong foundation of financial stewardship
FINANCIAL IMPACT (Budgeted: No)
At final real estate closing for the property (a portion of folio 157202.0000) the School Board of Hillsborough County will receive $48,735 after real estate brokerage commissions of 5%, less normal closing costs and legal fees.
EVALUATION

SUBMITTED BY: Lorraine Duffy Suarez, General Manager, Growth Management and Planning



		C 7.07
Hillsborough County Public Schools (Florida) * Mtg.#20181016_909 (Board Meeting) * Section C Item# 7.07