This parcel (#123) has been identified for acquisition as part of the County's Orange Boulevard Improvement Project. The owner (Simona Rupan / Tax ID#16-19-30-5AB-2500-002A & 16-19-30-5AB-2500-002B) of the property located at 5368 Orange Boulevard on the northwesterly side of Orange Boulevard approximately 465 ± feet (0.09 miles) northeast of Maryland Street, in Sanford, Florida, has agreed to sell and convey this property to Seminole County for the sum of $200,000.00, inclusive of all fees and costs.
The parent property consists of two tax parcels and is improved with a single-family residence and ancillary improvements situated on 5.02 ± acres of land. The parent property is also currently zoned A-1, Agricultural and has a future land use of Suburban Estates. The portion of land needed for our project consists of 0.218 ± acres of land (or 9,493 ± square feet). The Agent Price Estimate of probable selling price of the parent property was $710,700.00 ($3.25/sq ft).
The land value being purchased is $30,900.00 with the improvements, severance damages and cost to cure valued at $103,800.00, making the total cost $134,700.00. The County’s incentivized offer amount was for $47,040.00 bringing the total offer to $181,740.00. After negotiations a settlement was reached at $200,000.00. The primary cost of this acquisition is with the damages to the remainder property and the cost to cure to make it whole again. This proposed settlement amount is reasonable under the circumstances inherent in the condemnation process. The main rationale for approval of this settlement is cost avoidance. If this acquisition were to proceed to condemnation, litigation costs and the costs of the County’s appraisal and to pay for the owner’s appraisal and other expert’s fees on both sides would likely exceed the additional settlement funds proposed to be paid.