Approve Contract for Sale and Purchase of .023 +/- Acres at the Southwest Corner Along Palm and Highland Avenues, Tampa from the School Board of Hillsborough County, Florida to The Heights Community Development District for Construction of a Roundabout Roadway Improvement at Brewster Technical College

The Heights Community Development District is in the planning stages of roadway improvements to Palm and Highland Avenues in Tampa, to serve the proposed Heights Community Subdivision.  A portion of the improvements would require additional property at the southwest corner of Palm and Highland Avenues at Brewster Technical College, owned by the School Board of Hillsborough County, Florida, a body corporate.  The Heights would pay the School Board the established fair market value of the .023 acre, appraisal and legal fees and be responsible to perform all remediation work necessary to School Board property after construction of the improvements.  The Contract for Sale and Purchase contains a condition that the deed of conveyance contain a reversionary clause that this property will revert back to the School Board if the Buyer does not convey the right-of-way to the City of Tampa in accordance with the adopted Heights Capital Improvement Plan and the City of Tampa Master Infrastructure Permit PLN 15-00003 within 18 months from the date of closing (Paragraph XIV.2).

The attached Contract for Purchase and Sale has been reviewed and approved by School Board real estate legal counsel as to form and sufficiency.