02-10-2015 Regular School Board Meeting
Agenda Item #54


Title
Release of Revisionary Interest on Melbourne Property

Discussion
Based on discussion at the School Board Workshop on January 27, 2015, the City of Melbourne (Melbourne) and the Brevard Regional Arts Group (BRAG) will submit their "best and final" offers to compensate the School Board for releasing its reversionary interest on land formerly owned by the School Board for (old) Melbourne Elementary School and Melbourne High School, now owned by Melbourne and BRAG.

Recommendation
Administration continues to recommend $400,000 as a fair and reasonable price for releasing its reversionary interest on the land now owned by Melbourne and BRAG on the site of the former Melbourne Elementary School and Melbourne High School. Recent requests for consideration by the City of Melbourne and the Henegar Center that are essentially different from those previously communicated will need to be evaluated and discussed by Board Members.

Meeting Date(s)
Information - 2/10/2015
Consent after Information2/24/2015

Authority for Action
1001.42

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Agenda Item will not Require the Expenditure of Funds

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program

Contact
Dane Theodore, Assistant Superintendent / Facilities Services 633-1000 x450


Attachment:  City of Melbourne Response.pdf
Attachment:  Signed letter to School Board Chair Kneessy.pdf