Acceptance of Conveyance Deed for Middle School TT Site in the South County Region and Approval of Post Closing Agreement and Joinder and Guaranty Agreement with Developer

On October 22, 2013, the School Board of Hillsborough County approved the location for the Middle School TT campus on Balm Road in the South County Region.  District staff has had environmental and geotechnical analysis performed on the site as part of the due diligence process to ensure land suitability.  All testing results have been received and reviewed and are acceptable.  Staff has also requested that the developer remove any and all debris and structures from the site.  Gopher tortoises have been identified on site and the developer will be responsible for their relocation as per the terms of the Post Closing Agreement and the Joinder and Guaranty Agreement.  (Attachment B)

Upon School Board acceptance of the deed (Attachment A), district staff will submit copies of the conveyance documents to Hillsborough County to complete the Impact Fee Credit process.  As per Florida Statutes Section 1013.14(b), two appraisals were obtained to establish the average land value and the developer will receive $5,020,000 in Impact Fee Credits from Hillsborough County. 

The School Board will be responsible for legal, environmental and geotechnical testing fees as part of the district's site due diligence and dedication process.  These fees will be derived from Local Millage. 

Credits received by the developer in the amount of $5,020,000 will come from the School Board's Impact Fee account administered by Hillsborough County.