Agenda Item Cover

On October 16, 2018, the School Board of Hillsborough County, Florida, approved a Purchase and Sale Contract between the School Board and Domain Homes, Inc. for vacant land declared surplus by the School Board. The land is located on East Osborne Avenue and North 16th Street, Tampa, Florida, Folio #157202.0000. Domain Homes has requested to purchase an additional 10' x 288' portion of adjacent land to supplement the setback requirements necessary to develop the original parcel. Domain Homes has offered $10,000 for the area, which is approximately $1,500 above appraised value.


DATE:	Tuesday, January 15, 2019
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve Addendum to Purchase and Sale Agreement for Property Located on Osborne Avenue, East of North 16th Street, Tampa, Florida
EXECUTIVE SUMMARY
On October 16, 2018, the School Board of Hillsborough County, Florida, approved a Purchase and Sale Contract between the School Board and Domain Homes, Inc. for vacant land declared surplus by the School Board. The land is located on East Osborne Avenue and North 16th Street, Tampa, Florida, Folio #157202.0000. Domain Homes has requested to purchase an additional 10' x 288' portion of adjacent land to supplement the setback requirements necessary to develop the original parcel. Domain Homes has offered $10,000 for the area, which is approximately $1,500 above appraised value.
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 $9,500 after real estate brokerage commissions of 5%, less normal closing costs and legal fees.
EVALUATION

SUBMITTED BY: Denise A. Taraschi, Property Specialist, Growth Management & Planning Lorraine Duffy Suarez, General Manager, Growth Management & Planning

		Christopher Farkas
		Deputy Superintendent, Operations (813) 272-4004
		C 7.01
Hillsborough County Public Schools (Florida) * Mtg.#20190115_916 (Board Meeting followed by Public Hearing) * Section C Item# 7.01