SUBJECT
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Approve Subordination Agreement between Polk County and Tampa Electric Company for parcels associated with the Thompson Nursery Road Phase 1 - Segment 1 Improvement Project. (No fiscal impact)
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DESCRIPTION
The County has a project to construction a new alignment four-lane corridor from US Highway 17 at Winter Lake Road (SR 540) to Rifle Range Road (CR 655) known as the Thompson Nursery Road Phase 1 - Segment 1 Improvement Project. Right-of-way acquisition for the project is complete and several parcels are currently encumbered with utility easements held by Tampa Electric Company (“TECO”) for both distribution and transmission facilities. The County has requested the TECO subordinate its interest in those portions of the utility easements lying within the project right-of-way parcels. TECO has agreed to the County’s request for the easements associated with the distribution facilities and has approved and executed a Subordination Agreement for the parcels encumbered with those easements. TECO is still reviewing the request for the easements associated with transmission facilities. Approving the Agreement will authorize the Chairman to execute the document and allow its recordation, which will allow the County to fully utilize the parcels for the project.
RECOMMENDATION
Request Board approve the above-mentioned Subordination Agreement.
FISCAL IMPACT
No fiscal impact.
CONTACT INFORMATION
R. Wade Allen, Director
Real Estate Services
863-534-2577