1. Approve Purchase Agreement with Michael and Rose Marie Eyster, for the voluntary purchase of a ±1.36-acre parcel of land improved with a single-family residence (fee simple interest) located at 1828 Corbett Road, further identified as STRAP No. 33-43-24-00-00002.0040 in the amount of $300,000 for the Littleton Road-Kismet Parkway Realignment, Project No. 200611, pursuant to the terms and conditions of the Purchase Agreement;

2. Authorize the Chair on behalf of the Board to execute the Purchase Agreement;

3. Authorize payment of the necessary fees and costs to complete the transaction;

4. Authorize County Lands to handle and accept all documentation necessary to complete the transaction.

Acquires a single-family residence on 1.36 acres at 1828 Corbett Road in Cape Coral for $300,000. The parcel is needed for the Littleton Road-Kismet Parkway Realignment (Project No. 200611).

This project is a joint effort with the City of Cape Coral. On June 21, 2016, the Board of County Commissioners approved an Interlocal Agreement with the City to outline the funding arrangements for design, right-of-way acquisition and construction of the project. The City and County will jointly fund all costs for this project, except the added alignment study of Littleton Road from Corbett to US 41, which will be entirely funded by the County, with the County handling the majority of the management of all the phases.

On February 21, 2017, the Board approved the ranking of firms by the Competitive Negotiation Committee for CN160495/DLK Kismet/Littleton Realignment and approved the award of the Professional Services Agreement to AIM Engineering & Surveying (Consultant) to prepare a roadway alignment study for the realignment of Kismet Parkway and Littleton Road at NE 24^th Avenue and roadway design services for this segment. The Consultant was also contracted to analyze alternative alignments and determine the right-of-way required for the future widening of Littleton Road to US 41.

On March 20, 2018, Consent Agenda Item 21, the Board adopted an alignment and conceptual design for the intersection of Kismet Parkway and Littleton Road.

On June 5, 2018, Consent Agenda Item 45, the Board approved Change Order No. 2 to CN160459DLK for the Littleton Road and Kismet Parkway Realignment to include survey, engineering design and post design services.

Construction for this segment from NE 24^th Avenue to Corbett Road is funded for FY2018/19.

The subject property is a whole acquisition of a + 1.36-acre parcel improved with a single-family residence, located at 1828 Corbett Road, Cape Coral.

Owner: Michael Eyster and Rose Marie Eyster, husband and wife             

Site Address:  1828 Corbett Road, Cape Coral, FL 33909

STRAP No.: 33-43-24-00-00002.0040

Purchase Price: $300,000 (Please see justification sheet for purchasing above appraised value.)

Estimated Closing Costs:  $7,500 (Costs include title commitment, policy, closing expenses, and documentary stamps)

Staff made an initial offer of $265,000 for the subject property.  The Seller submitted a counteroffer of $389,000.  Staff discussed with owner a counteroffer of $290,000, with the ability to remain in the residence for up to 180 days subsequent to closing.  The Seller indicated they would agree to a final price of $300,000, with the ability to remain in the residence for up to 180 days subsequent to closing.

Appraisal Information:  The subject property was appraised on August 2, 2018, by the firm of Carlson, Norris and Associates, Inc. The appraisal report indicates a value of $265,000. Staff is of the opinion that the voluntary purchase, in the amount of $300,000, is reasonable and justifiable considering the avoidance of potential condemnation costs and fees. See the attached Value Justification Sheet. In addition, the County also benefits by expediting the acquisition process, which could otherwise take up to twelve months.

No sales in the past five years.