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Central Groves Corp. April 10, 2019 Page 12 of $242,000 for the original 13.14 acres ($18,417 per acre) of property needed but did not find any severance damages. When Central Groves asked to move the pond to the ends of the parent parcel, the County's engineer estimated it would take 3.11 acres for two ponds rather than the original 2.48 acres for the one pond, which is an increase of 0.63 acres. Staff agreed to go with the two pond system as it was not a significant increase in construction costs, offered equal stormwater treatment, accommodated the landowner's preference and reduced potential severance damages. Central Groves had listed the property earlier in 2018 with an asking price of $49,500 with a sale price in the $40-45,000 per acre range. After holding a settlement conference in February 2019, staff and Central Groves agreed on a price of $42,500 per acre for the 13.78 acres of right-of-way and pond sites for a purchase price of $585,650. The appraiser for Central Groves did find severance damages to the remainder at a 25% reduction in value. With the relocation of the stormwater ponds, Central Groves agreed to a reduction in severance damage to the remainder of 12.5%, calculated to be: $42,500/acre x 12.5% = $5,312.50/acre in damages x 42.45 acres remainder = $225,515.00 severance for a cost to acquire the Property of $585,650 + 225,515 = $811,165.00. A sketch and legal description of the Property is attached to the Agreement as Exhibit "C". The Purchase Price and severance damages are inclusive of all compensation for damages incurred by Central Groves as a result of the County's proposed take of the Property. By comparison, in February 2017, the County purchased the 18.72 acre Greene property located at the northeast corner of 66th Avenue and 53rd Street for a future stormwater park for $558,900 ($29,855 per acre) which was an arm's length transaction without the threat of eminent domain. The County previously purchased the Miami Block at the southwest corner of 66th Avenue and 69th Street for $35,250/acre for the entire 18.59 parcel ($655,298.00). There are appraisal, engineering and land planning fees in the global amount of $25,417.00 and attorney's fees and costs equal to 15% of the total purchase price or $121,674.75, making the total cost to purchase $958,256.75. By purchasing the Property in advance of filing a lawsuit, staff is attempting to save on expert witness fees incurred by both the County and Central Groves. As noted in the past, expert witness fees for both parties often exceed $100,000 by the time the suit is filed and mediation is held. Pursuant to state statutes, the County is responsible for reasonable expert witness fees of Central Groves. The county has incurred significant savings by not having to hire our trial witnesses (appraiser, engineer and land planner), outside counsel and compromises on attorney's fees and severance damages. Central Groves is represented by Andrew Diaz of the law firm of Gaylord Merlin in Tampa.