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.. <br />RIGHT-OF-WAY ACQUISITION - 4TH STREET EAST OF OLD DIXIE HIGHWAY <br />The Board reviewed the following memo dated 8/29/90: <br />TO: James E. Chandler, <br />County Administrator <br />FROM: James W. Davis, P.E., <br />Public Works Directo <br />SUBJECT: Right -of -Way Acquisition - <br />4th Street East of Old Dixie Highway <br />DATE: August 29, 1990 <br />DESCRIPTION AND CONDITIONS <br />FILE: odrw.agn <br />Posada Group, Ltd., a Florida Limited Partnership, is the <br />owner and developer of a 1.3 acre parcel located at the <br />northeast corner of 4th Street and Old Dixie Highway. The <br />County currently has a 70' wide right-of-way along 4th <br />Street and an 80' wide right-of-way along Old Dixie Highway. <br />The County's Thoroughfare Plan required 10' of additional <br />right-of-way along the property's Old Dixie Highway frontage <br />(2,494 SF) and 15' of additional right-of-way along the 4th <br />Street frontage (3,015 square feet). The total 1.3 acres <br />has been recently purchased for $336,000 on March 2, 1990. <br />The cost per acre was $258,461.54 or $5.93/square foot. <br />At the present time, the owner is requesting the County to <br />purchase the approximately 5,509 square feet of additional <br />right-of-way for the same cost per square foot that the <br />owner originally paid for the land in March, 1990. The cost <br />for the right-of-way would be approximately $32,687.44. <br />ALTERNATIVES AND ANALYSIS <br />The following alternatives are presented. <br />Alternative No. 1 <br />Approve the purchase of 5,509 square feet for <br />additional right-of-way along 4th Street and Old Dixie <br />Highway for $5.93 per square foot. Funding in the <br />amount of $32,688 would be from Zone 6 Traffic Impact <br />Fee Fund. Compensation in the amount of $5,424 could <br />be provided by Traffic Impact Fee Credit at the time of <br />Building permit issuance. The remaining $27,263.44 <br />would be funded from the Zone 6 Traffic Impact Fee <br />Fund. <br />Alternative No. 2 <br />Allow full site development without obtaining the <br />future right-of-way needed for 4th Street and Old -Dixie <br />Highway. <br />RECOMLMNDATIONS AND FUNDING <br />8, <br />It is recommended that Alternative No.l be approved. <br />Funding to be from Zone 6 Traffic Impact Fee Fund. <br />58 ._ <br />Nict 81 PAr1E . <br />