SUBJECT
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Authorize the County Attorney's Office or outside counsel to stipulate to a final judgment for Parcel 127 in the case of Polk County v. Meritage Homes of Florida, Inc., an eminent domain lawsuit filed to acquire needed rights-of-way for the County Road 557 Project. ($2,273,900 one-time expense)
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DESCRIPTION
The County has a Community Investment Project 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. To allow for the construction of the roadway improvements, the County will need to acquire additional right-of-way and easements from adjacent property owners for the project. Polk County's Real Estate Services Director was authorized to take steps necessary to acquire those rights-of-way through negotiations and, as needed, through eminent domain lawsuits. Litigation has been filed and is proceeding. Parcels 127 is a fee parcel, containing a total of approximately 15.3-acres, owned by Meritage Homes of Florida, Inc. ("Meritage") with a controlling contractual interest held by HR Lake Alfred Preserve, LLC ("HR"), which is needed for mainline right-of-way for the project.
Meritage and HR retained attorneys Mark R. Leavitt, Esquire and Ryan Reese, Esquire respectively, to represent their interests in this case. Through negotiations held at a mediation with all parties, proposed settlements were reached which call for payment of $99,000 to Meritage and $2,750,000 to HR for full payment for the taking of the parcel and all damages of any nature. The proposed settlements also call for the payment of $50,000 for attorney fees and expert costs for Meritage and for payment of $491,800 for attorney fees and expert costs for HR. The County is entitled to a credit in the amount of $1,116,900, which was previously deposited into the Registry of the Court pursuant to a court order; therefore, the balance due to Meritage and HR, exclusive of attorney's fees and expert fees ...
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