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11.G.2. CR -510 RIGHT-OF-WAY ACQUISITION — CR -510 AND US#1 <br />DIPROVEMENTS — PARCEL #10, GENERAL EQUITIES, INC. <br />(WABASSO QUICK MART PROPERTY) <br />The Board reviewed a Memorandum of September 29, 1997: <br />TO: James Chandler <br />County Administrator <br />THROUGH: James W. Davis, P.E. <br />Public Works Director <br />FROM: William M. Napier, SRPA, SRA <br />Right -of -Way Agent <br />DATE: September 29, 1997 <br />Terry B. Thompson, P. <br />Capital Projects Managsr''�`" <br />SUBJECT: CR 510 Right -of -Way Acquisition <br />CR 510 and US 1 Improvements, Project # 9332 <br />Parcel No. 10, General Equities, Inc. (Wabasso Quick Mart Properly) <br />Twenty feet (29) of additional right-of-way is needed on County Road 510 (Wabasso <br />Causeway) for improvements planned at the intersection of US 1. Total area of the parcel <br />is 8,000 square feet. <br />The property owner has executed a contract at a price of $9.54 per square foot for the C -L <br />Zoned land. I feel this price per square foot is somewhat higher than true market value; <br />however, Public Records reflect this to be the price paid for the property in September of <br />1995, and the property owner has had an appraisal performed by an independent <br />appraiser which placed the value at $12.47 per square foot Negotiations failed to procure <br />an agreement for less than $9.54 per square foot <br />The total contract price is $76,355.20 less a credit to the County of $13,692.80 for CR 510 <br />improvements, leaving a balance to close of $62,662.40: There is an executed deed <br />conveying the property to the County which is held in escrow pending Board approval. <br />There are no appraisal or attorney fees. The County is to pay the costs of Documentary <br />Stamps, and Title Insurance if desired. <br />RECOMMENDATIONS AND FUNDING <br />Staff requests the Board of County Commissioners approve the $76,355.20 purchase and <br />authorize the Chairman to execute the contract. <br />Funding to be from Account # 315-214-541-066.12 <br />ON MOTION by Commissioner Adams, SECONDED by <br />Commissioner Ginn, the Board, by a 4-0 vote (Commissioner <br />Macht absent) unanimously approved the $76,355.20 purchase <br />from General Equities, Inc. and authorized the Chairman to <br />execute same, pursuant to staffs recommendations. <br />AGREEMENT IS ON FILE IN THE <br />OFFICE OF THE CLERK TO THE BOARD <br />OCTOBER 7, 1997 <br />