SUBJECT
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Approve Subordination Agreements between Polk County and Tampa Electric Company and between Polk County and Chesapeake Utilities Corporation, both in conjunction with the County Road 557 Road Widening Improvement Project. (No fiscal impact)
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DESCRIPTION
The County has a project within the current CIP to improve County Road 557 to a four-lane corridor from north of US Highway 17/92 in Lake Alfred, to south of the I-4 Interchange. Multiple right-of-way parcels associated with the project are encumbered with perpetual utility easements currently held by Tampa Electric Company and Chesapeake Utilities Corporation, (hereinafter “Utility Providers”). The County has requested the Utility Providers subordinate their interests in those portions of the subject utility easements lying within the right-of-way parcels. The Utility Providers have agreed to the County’s request and have approved and executed Subordination Agreements for the parcels encumbered with the easements. Approving the Subordination Agreements will authorize the Chairman to execute the documents and allow their recordation, which will allow the County to fully utilize the parcels for the project.
RECOMMENDATION
Request Board approve the above-mentioned Subordination Agreements.
FISCAL IMPACT
No fiscal impact.
CONTACT INFORMATION
R. Wade Allen, Administrator
Real Estate Services
863-534-2577