Subject:
Title
Approval, Re: Purchase and Sale Agreement (three originals) and Escrow Agreement (three originals) for a Portion of County Owned Land to Florida Power and Light (FPL) for an FPL Substation at Viera- District 4.
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Fiscal Impact:
There is no fiscal impact to the County. Revenues will be deposited into Utility Services Department.
Dept/Office:
Public Works Department / Land Acquisition / Utility Services Department
Requested Action:
Recommendation
It is requested that the Board of County Commissioners approve and authorize the Chair to execute the attached three original Purchase and Sale Agreements, the attached three original Escrow Agreements and to authorize the Chair to sign any documents related to the transaction and final closing under the terms of the Purchase and Sale Agreement and Escrow Agreement.
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Summary Explanation and Background:
The subject property is located in Section 18, Township 26 South, Range 36 East, south of Charlie Corbeil Way in Viera.
Florida Power and Light has requested the County sell 10.014 acres of a portion of County owned land located south of Charlie Corbeil Way behind the South-Central Waste Water Treatment Plant and along the FPL transmission line, in order to construct a Substation. The substation will provide electricity to the residents of Viera. Consent and Waiver of Restrictive Covenants with A. Duda and Sons has been obtained.
As further consideration for the County to enter into the sales agreement, FPL has agreed to install and connect an express feeder cable from the Substation to and for the benefit of the County’s South-Central Waste Water Treatment Plant to serve as back-up power to the Plant. The express feeder cable will be installed and connected at the sole expense of FPL, valued at $450,000.00. FPL has agreed to place the cost of the express feeder line in escrow until completion and operation of the feeder line, anticipated December 31, 2023.
The sales price of $651,000.00 was established through a fair market value appraisal report provided by Durrance and Associates, opined at $651,000.00.
The User Department approves this request.
This acquisition follows the policies and procedures as set forth in Administrative Order 37.
Clerk to the Board Instructions:
Upon execution by the Chair, Public Works Department will contact the Clerk’s office to make arrangements to pick up the three original executed Purchase and Sale Agreements and the three original executed Escrow Agreements.