SUBJECT
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Approve the Negotiated Settlement Agreement with Matthew and Tiffany Ellis for PRWC Parcel Numbers 5056 PE and TCE (Action)
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DESCRIPTION
Following negotiations between the PRWC and the Attorney representing the Ellis's, the PRWC reached a monetary settlement regarding the easements (5056 PE and TCE) needed on the Ellis property (Exhibit A).
Pursuant to the negotiated terms, the Ellis's will receive $130,000 for a permanent easement (0.09 acres) and a temporary construction easement (0.03 acres). The PRWC appraisal update amount for the permanent and temporary construction easements was $78,000. The Ellis's (through their attorney) initially countered at $168,850. After a series of cost exchanges, a settlement was reached at $130,000, which is $52,000 above the appraised value. The increase in the amount of compensation provided to the Ellis's above the appraised value is considered reasonable and appropriate given the additional items considered including the removal of six mature and well-maintained live oaks and required pruning to an additional three live oaks and one laurel oak, decorative fence (combination wood and bricks), and paved entry drive with gate.
The PRWC negotiated owner expert fee invoices in the amount of $11,000. Statutory attorney fees mandated under Florida law are $40,804.50. The total cost for the easement is $181,804.50.
The negotiated settlement has numerous benefits to the PRWC as outlined below:
1) The settlement is $38,850 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 Ellis property 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. Two easements (5056 PE and TCE) were acquired fr...
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