Approve Resolution 19-03 and the Purchase and Sale Agreement for 60.4+/- Acres Located on Bishop Road  in Wimauma Area of South Hillsborough County, Florida for Future School Sites (Operations Division)

District staff has been working with the Dohring Group brokerage firm to purchase 60.4+/- acres. The seller has established a price of $4,228,000.  Real estate comparables provided by the broker establishes a price per acre average for sales in the area.  However, appraisals will be obtained for establishing the fair market value of the property. Upon School Board approval and contract ratification, district staff will begin the due diligence and school siting process to ensure that the property is acceptable for school purposes.

The Purchase and Sale Agreement has been prepared by School Board real estate 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.

The potential site for acquisition cost of $4,228,000 for 60.4+/- Acres located on Bishop Road in Wimauma Area of South Hillsborough County, Florida will be derived from Impact Fees currently held by the Board of County Commissioners of Hillsborough County upon final real estate closing under a separate School Board Resolution.