SUBJECT
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Approve Land Purchase Agreement between Alcoma Properties, LTD and Polk County for the purchase of property in conjunction with Masterpiece Road at Timberlane Road intersection improvements along with a CIP amendment and budget transfer. ($525,000 one-time expense)
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DESCRIPTION
The County has future plans to improve the intersection of Masterpiece Road and Timberlane Road to the east of Lake Wales. Due to a sharp curve in Masterpiece Road and an awkward alignment of Timberlane Road which intersects near the center of said curve a roundabout concept has been developed as a proposed safer solution to improve the intersection. Due to existing residences and a planned residential development on the north side of Masterpiece Road utilizing the large vacant tract along the south side of the roadway for the improvements would be more cost effective. The County has had discussions with the owner of the property to the south, Alcoma Properties, LTD, which expressed an interest in selling the entire parcel. After a review of the property it was determined that the parcel could accommodate the intersection improvements, including any storm water retention that may be determined to be necessary. Additionally, it was determined that a portion of the remainder of the tract, approximately two-acres, could be utilized to construct a receiving station by Polk County Utilities for alternative water being supplied by the Polk Regional Water Cooperative as part of its southeast transmission line project due to its proximity to an existing County water production facility located along Timberlane Road approximately eight tenths of a mile to the north.
The County hired an independent appraiser to establish a value for the purchase of the parcel. The owner rejected the County's offer and subsequent negotiations have resulted in a proposed purchase price of $520,000. The owner has executed a Land Purchase Agreement for the sale of the property and has not...
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