SUBJECT
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Approve Land Purchase Agreement between CM Holdings CFL, Inc. and Polk County for a parcel associated with the realignment of Bargain Barn Road. ($43,000 one-time expense)
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DESCRIPTION
Bargain Barn Road is a public roadway running between CR 547 and US Highway 17/92. The eastern portion of the roadway is proposed to be realigned to align with the proposed signalized intersection of Power Line Road at US Highway 17/92 and in conjunction with proposed commercial development. The developer of the proposed development will convey right-of-way adjacent to the development for a portion of the roadway; however, additional right-of-way parcels are needed for the realignment and associated drainage facilities. Discussions with the owner of one of the parcels needed for mainline right-of-way which contains approximately 4,500 square feet, CM Holdings CFL, Inc., has resulted in a proposed purchase price of $40,000 for the parcel.
The County Attorney’s Office and the Real Estate Services Director have reviewed the Agreement and recommend approval. Approving the Land Purchase Agreement, authorizing 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 parcel for the planned realignment.
RECOMMENDATION
Request Board approve the above-mentioned Land Purchase Agreement and authorize the issuance of funds in the amount of $40,000 for the purchase. Also request the Board approve hiring American Government Services Corporation to close the transaction and approve paying estimated closing costs in the amount of $3,000 for a total amount of $43,000.
FISCAL IMPACT
Funds are available in Roads and Drainage 5-year CIP in the Transportation 1-Mill Fund.
CONTACT INFORMATION
R. Wade Allen, Director
Real Estate Services
863-534-2577