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• Building 2 <br /> 9 <br /> o Two-story structure with elevator <br /> O Built around 2011 <br /> O Approximately 20,089 square feet <br /> O Contains classrooms (currently configured for 6) and a gymatorium <br /> O Building is sprinkled for fire suppression <br /> • The site <br /> o Approximately 5.53 acres <br /> O Fenced playground area and soccer field <br /> O 38 paved parking spaces <br /> O Over 364 feet of frontage on Corporate Drive, the entrance to the property; <br /> and 684 feet of frontage on Highway 70A (no access currently) <br /> Potential Uses <br /> • Parent services <br /> • Blended learning opportunities <br /> Offer Highlights <br /> • Purchase price: $3.1 million, with $25,000 earnest money to be deposited on <br /> behalf of the seller within five days of the execution of the offer agreement; <br /> • Offer is submitted contingent upon approval of the Board of Orange County <br /> Commissioners; <br /> • Offer is submitted contingent upon acceptable results of facility inspections, <br /> environmental assessment and other assessments as deemed appropriate by <br /> Orange County Schools to ensure the facilities meet the needs for the District's <br /> intended use; <br /> • Closing is contemplated as quickly as practicable, but no later than April 30, <br /> 2017; <br /> • Occupancy will be granted to Orange County Schools no later than June 30, <br /> 2018; <br /> • During the period between closing and occupancy, Orange Charter School will pay <br /> Orange County Schools $15,000 per month as rent for the facilities. A lease will <br /> be presented to the Board of Education for approval prior to closing the property; <br /> • Orange Charter School will continue to provide both interior and exterior <br /> maintenance to the buildings and grounds (including snow removal), with Orange <br /> County Schools responsible for roof, building structure and HVAC <br /> replacements/repairs during that period; <br /> • Orange County Schools will provide appropriate property and liability insurance <br /> for the building; Orange Charter School will likewise provide appropriate property <br /> insurance for their on-site assets and liability insurance to cover their operations. <br /> Next Steps <br /> By statute, the Board of County Commissioners must also approve the purchase price <br /> of the facility. Assuming Board of Education approval, the item will be forwarded to the <br /> County Manager for inclusion on the January 24, 2017 Board of County Commissioner <br /> agenda. <br /> Financial Impact <br /> Following collaboration with the County Manager and staff, the $3.1 million acquisition <br /> cost of this property will be funded from the November 2016 bond proceeds allocated <br /> to Orange County Schools. The commensurate amount of funding required for the <br /> Cedar Ridge High School classroom addition project will be paid from accumulated <br />