SUBJECT
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Approve Subordination Agreement between Polk County and Duke Energy Florida, LLC in conjunction with the CR 547 (Davenport Blvd) at 10th Street Intersection Improvement Project. (No fiscal impact)
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DESCRIPTION
The County has a project within the current CIP to improve the intersection of County Road 547 (Davenport Blvd) at 10th Street by adding a new traffic signal and turn lane. A right-of-way parcel associated with the project is encumbered with a distribution easement currently held by Duke Energy, LLC, a Florida limited liability company, d/b/a Duke Energy, as successor to Florida Power Corporation, a Florida Corporation d/b/a Progress Energy Florida, Inc. (hereinafter “Duke”). The County has requested Duke subordinate its interest in that portion of the subject utility easement lying within the right-of-way parcel. Duke has agreed to the County’s request and has approved and executed a Subordination Agreement for the parcel encumbered with an easement. Approving the Subordination Agreement will authorize the Chairman to execute the document and allow its recordation, which will allow the County to fully utilize the parcel for the project.
RECOMMENDATION
Request Board approve the above-mentioned Subordination Agreement.
FISCAL IMPACT
No fiscal impact.
CONTACT INFORMATION
R. Wade Allen, Administrator
Real Estate Services
863-534-2577