SUBJECT
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Approve Central Florida Expressway Authority Real Estate Purchase Agreement between the Central Florida Expressway Authority and Polk County regarding the State Road 538 project and authorize a County Deed for right-of-way parcels associated therewith. ($161,500, one time revenue)
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DESCRIPTION
The Central Florida Expressway Authority (“CFX”) has a project to construct two segments of a new limited access toll road facility known as State Road 538 (Poinciana Parkway) from Ronald Reagan Parkway, east of US Highway 17/92 near the county line, to Osceola/Polk Line Road (Osceola CR 532).
CFX is currently in the acquisition phase of the project and contacted the County regarding multiple parcels that are owned by Polk County. Parcel 53-213 comprises the entirety of a parcel of land, containing approximately 2.3 acres acquired by the County in 2015 through an Escheatment Tax Deed located to the northwest of Old Kissimmee Road and along the county line which is need by CFX as limited access right-of-way for the project. Parcel 53-101B is a small parcel containing approximately 650 square feet, being a portion of county-maintained right-of-way for a roadway known as Parker Road, which is needed as additional right-of-way for US Highway 17/92 for improvements thereto in conjunction with the project. In addition to the aforementioned parcels needed as right-of-way for the project Parcel 53-101A is a small parcel located within a portion of county-maintained right-of-way for a roadway known as Labor Camp Road needed for an aerial crossing of an electric line which is being relocated in conjunction with the project. CFX provided an appraisal report for Parcel 53-213 which contained a value of $161,500. Discussions between County and CFX staff have resulted in a proposed agreement for the purchase of Parcel 53-213, the conveyance of Parcel 53-101B as well as a provision within the agreement allowing for the aerial crossing of Parcel 53-101A.
The County Attorney’s office and the Real Estate Services Director have reviewed the agreement and recommend approval. Approving the Agreement and authorizing the County Deed associated therewith will give CFX the right-of-way needed from the County to move forward with the project.
RECOMMENDATION
Request Board approve the aforementioned Agreement and authorize the County Deed associated therewith and referenced therein. Also authorize the Real Estate Services Director to sign the closing documents associated with the conveyance of the right-of-way parcels.
FISCAL IMPACT
Proceeds from the sale of the parcel to be deposited into the appropriate fund, to be determined by Finance and Accounting.
CONTACT INFORMATION
R. Wade Allen, Director
Real Estate Services
863-534-2577