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Hudson memo to BCC April 12, 2019 Page 12 The County's initial appraisal was performed by Armfield & Wagner and assigned a value of $95,500 for the 3.13 acres of right-of-way property needed and $110,300 for the entire 4.53 acres ($24,349/acre). Since the Hudsons have decided to sell the entire parcel, they no longer have a need for the various equipment used to operate the grove. This equipment consists of: ❖ A Ford Tractor ❖ Bush hog ❖ Fertilizer spreader ❖ Rhino lawn mower ❖ Golf car ❖ 150 gallon tank and trailer ❖ A plow ❖ Metal shed Mr. Hudson placed a value of $21,120 for this equipment. He further placed a value on the citrus trees and irrigation system at $176,000. After further discussion, the parties reached an agreement where the County would purchase the entire 4.54 acres of the Hudson property together with all of the above listed equipment for $230,000. The purchase price was arrived at using the $35,250/acre price paid to Central Groves for the Miami Block at 69th Street and 66th Avenue ($35,250 x 4.54 acres = $160,035), the $21,120 for the equipment and the remainder for the trees and irrigation system. Depending on the condition of the equipment, it can be utilized by either the Parks Department, Public Works or sold as surplus. 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) which was under the threat of eminent domain. The Hudsons sought appraisal, engineering and land planning fees in the amount of $14,447.00 and attorney's fees pursuant to the eminent domain statute of 33% of the benefit gained for the client ($230,000 - 110,300 = $119,700 x 0.33 = $39,501). The parties reached a compromised amount of $51,000 for all expert costs and attorney's fees, making the total cost to purchase $281,000. By purchasing the property in advance of filing a lawsuit, staff is attempting to save on expert witness fees that would have been incurred by both the County and the