SUBJECT
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Approve Right-of-Way Agreement between Ching H. Lu and Shu H. Cheng, and Polk County in conjunction with the County Road 557 Project, Parcel 123. ($360,730 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 construction of the new roadway, the County will need to acquire additional right-of-way for the corridor from impacted property owners. The Board previously adopted a resolution authorizing negotiations and written offers to be made on this project.
Parcel 123 is a whole take fee parcel needed for the construction and future maintenance of a storm water retention pond for the project. The parcel is a rectangular shaped parcel, containing approximately 1.25-acres, located along the west side of County Road 557 which is improved with a single-family residence along with a detached garage/studio apartment. The County hired an independent appraiser to establish full compensation for the taking of Parcel Number 123 and the owners, Ching H. Lu and Shu H. Cheng rejected the County's offer. Subsequent negotiations with the owners have resulted in a proposed settlement amount of $356,730 for the purchase of the parcel. The owners have not incurred any attorney's fees or expert costs in conjunction with this acquisition.
The County Attorney's Office and the Real Estate Services Administrator have reviewed the agreement and recommend approval. The alternative of acquiring this parcel through condemnation litigation would result in substantial cost to the County. Approving the Right-of-Way Agreement, authorizing the issuance of funds for the purchase, and hiring American Government Services Corporation to close the transaction will allow the County to take ownership of the parcels for the project.
RECOMMENDATION
Request Board approve the aforementioned Right-of-Way Agreement f...
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