SUBJECT
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Approve a Right-of-Way Agreement between Polk County and Lake Wales Property Holdings, LLC in conjunction with the Thompson Nursery Road Phase 2 Project. ($688,000 one-time expense)
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DESCRIPTION
The County has a Community Investment Project to improve Thompson Nursery Road to a four-lane corridor from W. Lake Ruby Drive to US Highway 27 known as Thompson Nursery Road Phase 2. To allow for construction of the roadway, the County will need to acquire additional right-of-way from impacted property owners. The alignment phase of the project has been completed and full engineering design for the roadway is forthcoming; however, alternative storm water retention pond sites have been identified for the project. One such pond site alternative, identified as Pond 4A, is located along the south side of Thompson Nursery Road in the northwest corner, and within an upland portion, of a tract of land which is part of multiple tracts which are a large-scale residential and mixed-use development south of Thompson Nursery Road in Lake Wales. The County contacted the developer to inquire if it had any interest in selling a portion of the development property for use in the project. The developer, Lake Wales Property Holdings, LLC, stated that they would be interested in selling the entire upland area where the pond site is proposed to be located which is a parcel containing approximately 6.2-acres.
Negotiations with the owner, through its development attorney, have resulted in a proposed purchase amount of $682,000 for the pond site and the conveyance of a 20-foot-wide strip of additional mainline right-of-way for Thompson Nursery Road at no cost in conjunction with the development. The owner has not incurred any attorney fees or expert costs in conjunction with this acquisition. The County Attorney's Office and the Real Estate Services Director have reviewed the agreement and recommend approval. The alternative of acquiring this, or an alternate reten...
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