SUBJECT
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Approve the Negotiated Settlement with Alexandra Joseph for PRWC Parcel Number 4072 Permanent and Temporary Construction Easements (Action).
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DESCRIPTION
Following negotiations between the PRWC and Alexandra Joseph, the PRWC reached a monetary settlement regarding the easements (4072 PE and TCE) needed on the Joseph property (Exhibit A).
Pursuant to the negotiated terms, Alexandra Joseph will receive $150,000 for a permanent easement (0.17 acres) and a temporary construction easement (0.05 acres). The PRWC appraisal update amount for the scheduled Order of Taking for the permanent and temporary construction easements was $57,050. Ms. Joseph (through her attorney) initially countered at $205,708. After a series of cost exchanges, a settlement was reached at $150,000, which is $92,950 above the appraised value. The increase in the amount of compensation provided to Ms. Joseph above the appraised value is considered reasonable and appropriate given the additional items considered including replacement of 314' of iron and stone fencing and a decorative, paved entry drive with electronic gate and keypads.
The PRWC is required to pay statutory attorney fees mandated under Florida law of $30,970.50 based on the first offer appraisal of $56,150. There are no expert fees. The total cost for the easement is $180,970.50.
The negotiated settlement has numerous benefits to the PRWC as outlined below:
1) The settlement is $55,708 less than the owner's opinion of compensation;
2) A jury trial was avoided, which would have exposed the PRWC to an additional estimated $150,000-$200,000 in costs;
3) The Joseph property fencing improvement restoration by the property owner saves additional time and potential additional costs associated with the PRWC contractor.
This settlement was negotiated and settled by the PRWC acquisition team with the property owner's attorney. To keep the acquisition process moving, the parcel was also scheduled for an...
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