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Summary:
The School Board is proposing to construct a K-8 public school, "School", in the vicinity of Parramore Avenue and Livingston Street, west of Downtown Orlando. The City owns certain unimproved property located along West Livingston Street and Otey Place, consisting of approximately 3.63 acres, "City Property". The School Board intends to build the School partially on the City Property and adjacent property that the School Board has already acquired. In consideration of the City's conveyance of the City Property to the School Board, the City and the School Board, within the next two years, would agree on an exchange parcel of equal value to be conveyed from the School Board to the City. If the parties cannot agree on an exchange parcel within the next two years, School Board would pay the City $1.58 Million Dollars, which is the appraised value of the City Property. City will convey the City Property to the School Board subject to a covenant prohibiting use of the City Property for anything other than a public school. |
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Fiscal & Efficiency Data:
If an exchange of properties occurs, there is no fiscal impact. If the School Board ultimately pays the City for the City Property, those will funds will be transferred to the Community Redevelopment Agency.
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Recommended Action:
Approval of the Property Exchange Agreement substantially in the form attached and authorization for the Mayor or Mayor Pro Tem to execute same, subject to review and approval by the City Attorney's Office. |
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Agenda Item attachment(s) on file in the City Clerks Office.
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Note:
All agenda items must
be in the City Clerk's office by Noon Friday, six(6) business days prior to the
regular Monday City Council meeting.
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Contact:
Roy K. Payne, Laurie Botts
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Approved By:
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Department
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Date and Time
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| Budget Outside Routing Approval |
7/22/2014 5:01 PM |
| City Clerk |
7/22/2014 5:01 PM |
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