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County Buys Elgin House For $240,000

By MICHAEL D. BATES

Hernando Today

Published: February 2, 2009

SPRING HILL - The county has approved a contract to purchase the largest and newest home along Elgin Boulevard as part of its right of way acquisition process for widening the road.
The negotiated price for the 2,300-square-foot, two-story home was $240,000.
Hernando County has been negotiating purchases with the 34 property owners who live on the north side of a 1.8-mile stretch of Elgin that is targeted for widening. With the approval of this contract, the county has five houses and two vacant lots left to acquire.
Negotiated settlements with homeowners have averaged $55,000 to $325,000, depending on the square footage of the house and other property amenities.
This latest home, which is only four years old, had a 2005 appraised value of $235,000. It is an oversized lot at 5204 Landover Boulevard, which is at the corner of Elgin and Landover.
The county will pay any additional closing costs.
Ordinarily, the age of the appraisal would need updating, but given that the widening project was announced in late 2006, the legal office decided the earlier valuation was appropriate.
Commissioners voted 4-1 to approve the purchase. Commissioner Jim Adkins dissented.
When widened, Elgin Boulevard is anticipated to be a vital east-west road in the county and, once improved, should relieve traffic along State Road 50, County Line Road and Spring Hill Drive.
The only remaining question mark will be what to do with the abandoned homes along Elgin: demolish them or renovate them to sites elsewhere in the county.
The county is exploring both options to see which would be the cheapest.