PHCC nears deal on U.S. 19 land
By RYAN DAVIS
© St. Petersburg Times, published October 26, 2000
SPRING HILL -- Pasco-Hernando Community College is nearing a deal to purchase 58.3 acres along U.S. 19 for its Spring Hill site.
The college's board of trustees gave unanimous approval last week for the school to enter contract negotiations with the intention of buying the land for $800,000.
"The sale price is agreed upon, now it's just the particulars," said Brooksville real estate broker Gary Schraut, who represents the family selling the property.
College attorney Stephen Schroeder said he mailed Schraut a contract proposal Monday.
The college has hired two companies to appraise the property, Schroeder said. If the appraisals come back lower than $800,000, the college could back out of the deal, Schraut said.
"That would be a shocker," he said.
This summer, after more than two years of debate, the college selected the land, which is along Hunter Lake. At the time, the site was 53.6 acres and expected to cost $650,000. In order to gain 700 feet of frontage along U.S. 19, the school upped the price last month by adding more land to the parcel.
It will be at least eight years before construction begins.
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