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INDIAN RIVER COUNTY, FLORIDA MEMORANDUM TO: Joseph A. Baird, County Administrator FROM: Christopher R. Mora, P.E., Public Works Director Onr-# DATE: July 15, 2014 SUBJECT: 26TH STREET ADVANCE ACQUISITION OF RIGHT-OF-WAY 5940 26TH STREET — HAMILTON PROPERTY CONSENT DESCRIPTION AND CONDITIONS William A. Hamilton, Keith A. Hamilton & Brenda Hamilton (the Hamiltons) own a single family home located at 5940 26th Street, Vero Beach. The Hamiltons recently listed the house for sale and the County was approached by their realtor to see if the County might be interested in buying the property for right-of-way for 26th Street in its expanded condition. The parcel is in the Indian River Farms Company Subdivision and is 0.69 acres in size with 137 feet of frontage along 26th Street. The property is zoned RS -3 single family residential, up to three units per acre, and improved with a 4 bedroom, 3 bath, 1,601 square foot wood frame house that was built in 1928. It is serviced by City of Vero Beach Utilities. The listing price of the home was $125,000 however the County's offer of $105,000 has been accepted by the owners. The purchase price of $105,000 includes all fees and closing costs and is contingent upon Board approval. A recent appraisal of the property performed by Armfield & Wagner, a Vero Beach appraisal firm, values the property at $120,000. Improvements to 26th Street will consist of widening to four lanes with a dedicated center left turn lane. Some right-of-way acquisition for 26th Street will likely be gained from the developer of the former Dodger Pines Country Club site however many parcels of right-of-way will have to be acquired from single family home sites. When the Hamiltons' realtor advised the County that this parcel was listed for sale, staff weighed the cost of purchasing the parcel on the open market against trying to take the parcel via eminent domain. Staff reasoned that buying the property now and taking the right-of-way needed and then reselling the remainder property would avoid the expert witness costs and attorney's fees incurred in the eminent domain process. Thus, staffs plan is to purchase the entire property now for $105,000, take the right-of-way needed for the 26th Street improvements as shown on the attached sketch, and resell the property by sealed bid, minus the needed right-of-way. FUNDING: Funding in the amount of $125,000 is available for ROW for FY 13/14 from Traffic Impact Fees/District II/ROW 26th Street,43rd Ave to 66th Ave, Acct # 10215241-066120-06011. For FY 13/14, $1,350 has been expended year to date. STAFF RECOMMENDATION: Staff recommends the Board approve the attached Contracts for Sale and Purchase of the Hamilton parcel for $105,000.00 and authorize the Chairman to execute the contract on behalf of the Board. Staff further recommend that the Board direct that the needed right-of-way be taken from the property after purchase and to authorize sale of the remainder property at sealed bid. F:\Public Works\Luanne M\Land Acquisition docs\26th st Hamilton ROW purchase 08-15-14.doc 189