SUBJECT
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Adopt a Resolution and approve a Transfer Agreement between the Polk Regional Water Cooperative (“PRWC”) and Polk County. (One-time revenue $4,004,937.57)
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DESCRIPTION
Polk County holds title to those parcels of real property located in the unincorporated areas of southeast Polk County which are described in the attached Resolution. The County intended to use the properties when developing a Lower Floridan Aquifer project (the “SEWF Project”) with interested Polk County municipalities.
While collaborating with the municipalities to establish the Polk Regional Water Cooperative (“PRWC”) - the entity which will develop the SEWF Project, the County undertook preliminary project design and development and obtained a water use permit from the South Florida Water Management District (“SFWMD”). Once the PRWC was formed and approved the SEWF Project, the County, the PRWC and participating municipalities entered an implementation agreement to develop the project. Among other matters the implementation agreement requires the PRWC to hold title to all real, tangible, and intangible property associated with the SEWF Project, to include the SFWMD water use permit, so the PRWC can construct and operate the project for the project participants.
The proposed Transfer Agreement addresses the County’s conveyance to the PRWC of the SEWF Property (25-acre tract for SEWF water production facility and well #2, 5-acre tract with well #1, 1.4-acre tract with well #3), together with the properties’ associated tangible and intangible property, water rights, and water supply and development rights to include, upon SFWMD approval, the water use permit. In return the PRWC will pay the County $4,004,937.57, an amount which reimburses the County for the SEWF Project design, development, and permitting costs the County incurred prior to the PRWC formation. The PRWC approved the Transfer Agreement at is January 18, 2023 Board of Directors meeting.
The County is authorized to convey the SEWF Property to the PRWC pursuant to Section 125.38, Florida Statutes, which requires the Board to adopt a Resolution regarding the sale and conveyance.
RECOMMENDATION
Adopt the attached Resolution and approve the proposed Transfer Agreement.
FISCAL IMPACT
One-time revenue of $4,004,937.57 into the Utilities Operating Fund.
CONTACT INFORMATION
Ryan Taylor, Deputy County Manager, Infrastructure
Phone: (863) 534-6444