The Acquisition of this property for Elementary School X in the Lake Asbury area has been favorably discussed by the School Board during prior meetings.  The School Board received the survey, appraisal and environmental study, authorized the advertisement of intent to acquire and the development of an option contract at the February 26, 2007 Special Meeting.  Advertisement has been accomplished per Florida Statutes.  Through negotiation with the property owner, the attached Option Contract has been developed, and the School Board is now in a position to approve this acquisition.  The Superintendent continues to support the need for this new elementary school to relieve overcrowding at Lake Asbury Elementary.

Approve the option contract.

The appraised value of the property is $1,100,000.  In addition, the School District will pay $30,000.00 for a hunting buffer zone.  The School District will pay closing costs to be determined by the School Board Attorney.

James A. Connell, Director of Facility Planning and Construction