Staff has identified the need for a permanent residential/office site in Tallahassee, Florida. This site would be utilized by District Government Relations personnel while attending legislative sessions, committee weeks, Florida Board of Education meetings and other functions. Acquisition of this site would eliminate yearly apartment rentals. Currently, the District leases an apartment for the Government Relations Office and Officer. Net rental costs, after subletting a room, is approximately $15,000 per year. The District has reserved approximately $280,000 to fund these costs for the next ten years and the District pays the utilities directly to reduce the rent. The annual cost of ownership is estimated at $2,000 for owners' association fees.

The value of this property has appreciated in excess of 5% per year for many years. Therefore, the District will own an appreciating asset and save approximately $13,000 per year.

Funds estimated not to exceed $500 for appraisal services will be derived from the General Operating Fund. Approval for additional funds for purchase will be submitted upon receipt of the appraised value.