COUNCIL AGENDA ITEM
SUBJECT:
title
Purchase of Property on Pearl Street
body
DEPARTMENT:
Public Works
SUMMARY:
As part of the G2/G11 Drainage Improvement project, the City is planning to acquire property located on the south side of Pearl Street, just east of Old County Road, in order to construct a retention area. The acquisition consists of two properties: 170 Pearl Street (approx. 2 acres) and the portion of 110 Pearl Street that is west of the existing canal. City staff and the property owner have negotiated and agreed on a purchase price of $240,000.00. The purchase cost is a reimbursable item from the Florida Department of Economic Opportunity Grant. This purchase is contingent on City Council approval, as well as an approved environmental assessment of the property.
BUDGETED ITEM: ☒ Yes ☐ No ☐ Not Applicable
BUDGET AMENDMENT REQUIRED: ☐ Yes ☒ No ☐ Not Applicable
RECOMMENDED ACTION:
Approve the purchase of the two (2) properties on Pearl Street for a total cost of $240,000.00.