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2 <br /> Tract C - A 129,632 square foot portion of property (approximate value of $24,052) <br /> located at the 520 Orange Heights Loop, Hillsborough (PIN 9864398253). The <br /> property is approximately 8.879 acres prior to the exchange and approximately <br /> 5.912 acres after the exchange. <br /> For the following portion of the Holloway Property <br /> Tract B - A 46,135 square foot portion of property (approximate value of $11,533) located <br /> at 1014 US Highway 70, Hillsborough (PIN 9864490515). The property is <br /> approximately 6.395 acres before the exchange and approximately 8.354 after <br /> the exchange <br /> The closing documents for the exchange were prepared and signed by the Holloways over the <br /> summer, and authorization by the Board is needed finalize the exchange. <br /> Public notice of the exchange of the proprieties was advertised in The Herald Sun on August 15, <br /> 2019. <br /> FINANCIAL IMPACT: The closing costs and other legal fees associated with the land <br /> exchange will total approximately $10,000. In addition, $7,000 will be paid by the County to the <br /> Holloways for the re-alignment of a fence associated with the land exchange. <br /> SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal impact associated <br /> with this item. <br /> ENVIRONMENTAL IMPACT: There is no Orange County Environmental Responsibility Goal <br /> impact associated with this item. <br /> RECOMMENDATION(S): The Manager recommends that the Board: <br /> 1) Authorize the County Manager to complete all required documentation and take <br /> necessary action to effect a land exchange between the County and the Holloway family <br /> related to the development of the County's Northern Campus, subject to final review by <br /> the County Attorney; and <br /> 2) Approve and authorize the Chair to sign the Resolution to Exchange Real Property. <br />