SUBJECT
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Approve the Mediated Settlement with Dundee Reserve Holdings LLC for PRWC Parcel 3011 Permanent and Temporary Construction Easements (Action)
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DESCRIPTION
Following a mediated settlement meeting on March 12, 2026, the PRWC reached a monetary settlement agreement with the property owners and their attorney regarding the easements (3011) needed on this property (Exhibit A).
Pursuant to the mediated settlement, the property owner of this parcel will receive $740,000 for permanent and temporary construction easements totaling 1.229 acres (approximately 2,000' of transmission main). The PRWC appraisal amount for permanent and temporary construction easements was $373,850. The property owner provided a value of $1,098,000. Following a series of cost negotiations at the mediation session, the parties agreed to a compensation of $740,000. The increase in the amount of compensation provided to the property owner above the appraised value is considered reasonable and appropriate due to the impact the PRWC will have on a residential housing development that is already in the design and permitting stages.
The PRWC will also incur expert fees in the amount of $33,000 and the statutory attorney fee (mandated under Florida law) is $160,300. The total cost for the easement is $933,300.
The negotiated settlement has several benefits to the PRWC as outlined below:
1) The settlement is $358,000 less than the owner's opinion of compensation;
2) A jury trial was avoided, which would have exposed the PRWC to an additional estimated $300,000-$400,000 in costs;
3) The PRWC transmission line can remain as designed despite impacts to the planned community development.
This settlement was negotiated and settled by the PRWC's eminent domain attorney (Policastro Law Group) with the property owner and their attorney. An order of taking was obtained in March 2026. Upon Board approval the PRWC attorney will enter a Stipulated Final Judgement to the court for f...
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