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Fr- -1 <br />(� J <br />P <br />@ E B 2 1993 D11 V V Fr�!GC <br />INDIAN RIVER BOULEVARD PHASE III - RIGHT-OF-WAY PARCELS <br />#110 AND #111 <br />The Board reviewed the following memo dated 1/27/93: <br />TO: James E. Chandler, <br />County Administrator <br />FROM: James W. Davis, P.E., <br />Public Works Director <br />SUBJECT: Indian River Boulevard Phase III <br />Right -of -Way Parcel #110 and #111 <br />Settlement Agreement <br />DATE: January 27, 1993 <br />DESCRIPTION AND CONDITIONS <br />On December 5, 19901 the County acquired 43 acres known as <br />Parcel #110 for mitigation for the Indian River Boulevard <br />Phase III project by means of an Order of Taking. On June <br />4,. 1991, the County acquired a 21 acre parcel known as <br />Parcel #111 for right-of-way for the Indian River Boulevard <br />Phase IV project by means of an Order of Taking. Mr. Martin <br />Gregory is the Trustee representing the property owner. The <br />staff recommended and the Board of County Commissioners <br />approved the making of offers of judgment, and offers of <br />judgment were made in the amounts of $575,000 (Parcel 110) <br />and $75,000 (Parcel 111). The property owners did not <br />respond to the offers of judgment and there were no <br />meaningful settlement discussions until immediately before <br />trial. The case proceeded to trial on January 25, 1993 and, <br />at the urging of the property owners' attorney, Michael <br />O'Haire, the Court recessed the proceedings to allow the <br />parties to attempt to reach a settlement agreement. <br />At the time of trial the property owners were seeking <br />$816,000 (Parcel 110) and $311,000 (Parcel 111) as <br />compensation for the property taken, plus in excess of <br />$200,000 in attorneys' fees and costs. <br />Staff (the County's representative at trial, James W. Davis) <br />and the County's legal consultant (trial counsel, Kenneth J. <br />Kavanaugh) negotiated with the property owners and their <br />counsel and reached the following settlement agreement, <br />subject to approval by the Board of County Commissioners. <br />1) Total monetary compensation of $6450000 for Parcel <br />#110 and $30,000 for #111 which totals $675,000, <br />($495,000 is already deposited with the Registry of the <br />Court for Parcel #110 and $22,000 already deposited <br />With the Registry of the Court for Parcel #111, <br />resulting in an additional monetary compensation of <br />$158,000); <br />2) Legal fees, expert fees, and litigation costs in the <br />total amount of $150,000; <br />3) The County would permit a full movement (four way) <br />fully actuated traffic signal at Indian River Boulevard <br />providing access to Barber Avenue; <br />34 <br />