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Harbourt Parcel Memorandum March 7, 2011 Page 3 on both sides of the case. The County's attorney's fees are conservatively. estimated at $16,000. The Harbourts' attorney's fees are set. by statute and will equal 33-1/3% of the difference between the County's first offer ($314,870) and the final jury verdict, which will be somewhere between $320,000 and $674,100. Using a verdict favorable to the County of $375,000, the Harbourts' attorney's fees will be $19,842.90. In addition, the County will have to pay all expert witness fees. There are eight total expert witnesses, four for each side. Conservatively, total expert witness fees through trial will be approximately $100,000 for a total cost of $510,842.90 plus prejudgment interest. Using a verdict favorable to the Harbourts of $625,000, the attorney's fees would be $102,342.90, expert witness fees of $80,000 and our own attorney's fees of $16,000, the total cost would be $823,342.90 plus prejudgment interest. The Harbourts' expert witnesses have already accrued over $4.8,000 in costs.at the time of mediation. IV. Mediation The mediation was attended by Matthew and Hilda Harbourt, their attorneys Brent Simon and David Holloway; Will Smith the mediator; outside counsel for the County Tony Policastro; Chris Mora, Public Works Director, and me. Mediator Smith formerly practiced exclusively in eminent domain and now works only as a mediator. He is one of the most sought after eminent domain mediators in the State of Florida. Negotiations took place over a period of 7 hours with 11 different offers and counter offers exchanged. The parties agreed (subject to Board approval) to a settlement of all issues as follows: • The County would pay the sum of $490,000 in full and final settlement for title to the right-of-way property. The county will receive a credit of $297,000 already paid into the registry of the court. • Statutory attorney's fees of $57,792.90 to Simon and Holloway, PA. • Expert witness fees in the amount of $40,000. This amount covers all fees for all of the Harbourts' experts. The total monetary cost of the Mediated Settlement Agreement -to the County is $599,792.90. • At the time of construction, the County's contractor will provide driveway connection to the Harbourt remainder property at the existing location of the 661h Street driveway. Additionally, the County's contractor will construct a 24 foot wide driveway connection with a drop curb design on 66th Avenue to align with the median opening at or about the southern property line of Defendant's property. (Approximate cost: $2,000) • Also at the time of construction, the County's contractor will install a culvert pipe and construct a 12 foot wide .driveway connection with a drop curb design at or about Station 503 on 37th Street. (Approximate cost: $10,000) V. Discussion. The risks have been set forth above. There is no way to predict how much a jury would award the Harbourts in this case but a jury would more than likely sympathize with the kindly couple. However, even if the verdict is as low as $400,000, the total cost to the County will.be roughly equivalent of the mediated amount and below a 50/50 "split" of the difference between the parties' estimates of value ($674,100 — 320,000 = 354,100 _ 2 = 187,050 + 320,000 = $507,050).