Created : December 30, 2013 at 01:11 PM
March 15, 2005
Status: Pending
Open Agenda
Approve the purchase contract between MPG Parkland Ltd., and The School Board of Broward County, Florida, for a 10.14 acre site at Trails End and University Drive in the City of Parkland for Elementary School "A-1".
On July 6, 2004, the School Board designated this site for new Elementary School "A-1". Elementary School "A-1" has been identified in the Adopted District Educational Facilities Plan, Fiscal Years 2004-05 to 2008-09. The site is located at the southwest corner of Trails End and University Drive in the City of Parkland. The 10.14 acre site is cleared, utilities are available, has two access points, and is ready for construction.
A Phase I Environmental Assessments has been obtained for the site. The study shows that there is no evidence of recognized environmental conditions on the site. The Geotechnical Study indicates the site is suitable for the planned construction.
The $5,850,000 proposed purchase price, including an $850,000 contribution by the City of Parkland, exceeds the average appraised value of $5,256,209 by 11% and is within the guidelines established by the Negotiation Parameters Committee. The average appraised value, based on the attached appraisal summary was calculated on a cost per square foot. The School Board must approve the contract by extraordinary vote.
MPG Parkland, Ltd. is required to replat the property, amend the plat notation and obtain rezoning prior to August 31, 2005, at which time if all contingencies are not met, the contract is void. The School Board must approve a wavier to the 120 day requirement to zone the property for school use.
The School Board Attorney has approved the contract as to form.
The financial impact to the District is $5,000,000 plus closing costs. The source of funding is the Adopted District Educational Facilities Work Program, Fiscal Years 2004-05 to 2008-09, page 26.
Requested Action
Approve the purchase contract between MPG Parkland Ltd., and The School Board of Broward County, Florida, for a 10.14 acre site at Trails End and University Drive in the City of Parkland for Elementary School "A-1".
Summary
On July 6, 2004, the School Board designated this site for new Elementary School "A-1". Elementary School "A-1" has been identified in the Adopted District Educational Facilities Plan, Fiscal Years 2004-05 to 2008-09. The site is located at the southwest corner of Trails End and University Drive in the City of Parkland. The 10.14 acre site is cleared, utilities are available, has two access points, and is ready for construction.
A Phase I Environmental Assessments has been obtained for the site. The study shows that there is no evidence of recognized environmental conditions on the site. The Geotechnical Study indicates the site is suitable for the planned construction.
The $5,850,000 proposed purchase price, including an $850,000 contribution by the City of Parkland, exceeds the average appraised value of $5,256,209 by 11% and is within the guidelines established by the Negotiation Parameters Committee. The average appraised value, based on the attached appraisal summary was calculated on a cost per square foot. The School Board must approve the contract by extraordinary vote.
MPG Parkland, Ltd. is required to replat the property, amend the plat notation and obtain rezoning prior to August 31, 2005, at which time if all contingencies are not met, the contract is void. The School Board must approve a wavier to the 120 day requirement to zone the property for school use.
The School Board Attorney has approved the contract as to form.
School Board Goals
| Goal 3 - All operations of the school system will demonstrate best practices while supporting student achievement. |
Financial Impact
The financial impact to the District is $5,000,000 plus closing costs. The source of funding is the Adopted District Educational Facilities Work Program, Fiscal Years 2004-05 to 2008-09, page 26.
Source of Additional Information
Tom Coates 754 321-2161
Associated File Attachments
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Proposed Purchase Contract (Files) | |
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Appraisal Summary Sheets (Files) | |
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Ownership Information (Files) | |
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Contract Summary (Files) | |
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ExecutedCompleteCopy (Files) |