SUBJECT
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Approve Subordination Agreement between Polk County and Duke Energy Florida, LLC in conjunction with the CR 54 (Ronald Reagan Parkway) at Westside Boulevard Intersection Improvement Project, Parcel 100. (No fiscal impact)
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DESCRIPTION
The County has a project within the current CIP to improve the intersection of County Road 54 (Ronald Reagan Parkway) at Westside Boulevard by adding a new traffic signal along with associated improvements. A right-of-way parcel associated with the project, Parcel 100, is encumbered with an Easement currently held by Duke Energy Florida, LLC, d/b/a Duke Energy, (hereinafter “Duke”). The County has requested Duke subordinate its interest in that portion of the subject easement lying within the right-of-way parcel. Duke has agreed to the County’s request and has approved and executed a Subordination Agreement for the parcel encumbered with the easement. Approving the Subordination Agreement will authorize the Chairman to execute the document and allow its recordation, which will allow the County to fully utilize the parcel for the project.
RECOMMENDATION
Request Board approve the above-mentioned Subordination Agreement.
FISCAL IMPACT
No fiscal impact.
CONTACT INFORMATION
R. Wade Allen, Administrator
Real Estate Services
863-534-2577