SUBJECT:
Title
Request Approval of a Purchase Agreement Between Dinkins & Dinkins, LLC and Marion County Associated with the NW/SW 80th Avenue and W HWY 40 Intersection Improvement Project (STC073868) (Budget Impact - Neutral; expenditure of $3,015,358 as approved in the FY 21/22 budget)
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INITIATOR: |
DEPARTMENT: |
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H. Elton Holland, P.E., County Engineer |
Office of the County Engineer |
DESCRIPTION/BACKGROUND:
This is a request to approve a Purchase Agreement in the amount of $3,015,358 (plus closing costs) to acquire Parcel Number 21069-002-01 from Dinkins & Dinkins, LLC associated with the NW/SW 80th Avenue and W HWY 40 Intersection Improvement Project for a permitted drainage retention area. The parcel is 2.85 acres or 124,146 square feet for a commercially zoned corner located within a very active real estate market corridor. The purchase price is within the range of sales used in the approved appraisal and the attorney fees are inclusive of expert costs. The proposed agreement has been coordinated with the County Attorneys’ Office to reach this settlement.
BUDGET/IMPACT:
Neutral; expenditure of $3,015,358 plus closing costs (STC073868 - VJ738541 - 561301)
RECOMMENDED ACTION:
Recommended action
Motion to approve the Purchase Agreement and authorize the Chair and Clerk to execute the same.
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