|DATE:||Wednesday, August 1, 2018|
|TO:||School Board Members|
|FROM:||Jeff Eakins, Superintendent|
|SUBJECT / RECOMMENDATIONS|
|Approve the Purchase and Sale Agreement for 2.5 +/- Acres Located on County Road 672/Balm Road, Balm Florida for High School "TTT" in South Hillsborough County.|
The School Board of Hillsborough County, Florida currently owns 50+/- acres on the north side of Balm Road (CR 672) in Balm, Florida. This property is the approved site for High School "TTT" scheduled to open in August 2020. Purchase of this 2.5 +/-acre parcel. will assist in the construction of the high school, reducing the cost of the drainage system for the school.
District staff have been working with legal counsel to negotiate the purchase of the subject parcel. An appraisal of the property for its unimproved land cost (not including the homestead) was $195,000. The total cost that has been negotiated with the property owner's attorney is $495,000 inclusive of their attorney fees. Since the purchase price exceeds the appraised value, a super majority vote of the School Board is needed. This increased cost will be offset by the significant savings in construction costs for the high school drainage system.
The funds for the site acquisition will be derived from impact fees, currently held by the Hillsborough County Board of County Commissioners. These funds will be requested from the County after final closing of the sale.
|• Construct and maintain facilities that create an environment conducive to teaching and learning|
|FINANCIAL IMPACT (Budgeted: Yes)|
|$495,000 will be funded through School Impact Fees.|
|SUBMITTED BY: Lorraine Duffy Suarez, General Manager, Growth Management & Planning|
|Deputy Superintendent, Operations
|Hillsborough County Public Schools (Florida) * Mtg.#20180801_893 (Board Meeting followed by Public Hearing) * Section C Item# 7.12|