SUBJECT
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Approve Subordination Agreement between Polk Regional Water Cooperative and Polk County. (No fiscal impact)
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DESCRIPTION
The Polk Regional Water Cooperative (“PRWC”) has a project to address future water supply needs within Polk County. The project, known as the Southeast Wellfield and Water Production Facility Project, consists of the construction of a potable water facility, multiple supply wells and a regional transmission system. Part of the transmission system is proposed run along the west side of 10th Street in the Haines City area. To facilitate the improvements PRWC is acquiring easements along the proposed transmission corridor for the project including one such easement, identified as Parcel 12002-PE, located along the eastern boundary of a property located at the southwest corner of South Boulevard and 10th Street. Parcel 12002-PE is encumbered by a Sidewalk Easement in favor of Polk County which was recorded August 22, 2019 in Official Records Book 10948, at Pages 2007 through 2010, Public Records of Polk County, Florida. PRWC has requested a Subordination Agreement for that portion of the subject easement parcel encumbered by the Sidewalk Easement. Approving the Subordination Agreement will authorize the Chairman to execute the document and allow its recordation, which will allow PRWC to fully utilize the subject easement parcel for its project.
RECOMMENDATION
Request Board approve the aforementioned Subordination Agreement.
FISCAL IMPACT
No fiscal impact.
CONTACT INFORMATION
R. Wade Allen, Director
Real Estate Services
863-534-2577