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-da.lter w. Buckingham, representing E.T.Thompson and D.H.McKee, appeared before the <br />Board and tubmitted the following proposition for permanent Court .House quarters$ <br />June 26, 1929 <br />Cdr. Walter S. Buckingham, <br />Veru.; Beach, Florida,. <br />Iffy dear Mr. Buckingham: <br />I ask that you kindly transmit tot he honorable Board of Supervisors of Indian <br />River County the following proposition to lease them space fot the court house in the <br />new building on Bots 20'21 and 229 Block 1, of l,angwick 8u.bdivision, City of Ve3D Beach <br />as follows: <br />The south end of the building is separated from the north end by a fire wall <br />and contains, according to our measurements, 3725 equare feet of floor space. In <br />addition , we would propose to include the space immediately to the left of the stair- <br />way being an apartment 21 x 28 feet making 688 square feet, or a total of 4417 square <br />feet. <br />For this space we propose a charge of 60je a square foot, or 42,600:00 for the <br />first year for the entire space and an increase of 5je per, square foot per year on a <br />ten year leases <br />Additional space or other space can be added at the same rate and your familiarity <br />with the entire matter will enable you to present these additional features for their <br />choice better than I can write it out. <br />The present cost to the county for the space used is $1,02 per square foot. <br />The present saving is 42je a square foot, or 40.21 <br />They need 500 square feet more space and in this building they havec, opportunity <br />for that and more, if they need it. <br />The saving over the present cost on 4417 square feet would be $197844$0 for the <br />first year with 5je per square foot reduction a ach year. <br />To those favoring purchase I have to say that the building can be purchased and <br />paid for frau the estimated rental income, allowing the present rehtal charge of the <br />county and other income for a sinking fund, in six years. <br />This lease can be made to contain a provision for purchase by the county for the <br />sum of $509000.00 at any time during the first year. <br />The deed runningf <br />ram EW. Thompson to D. H. McKee is deposited in escrow pending <br />settlements. <br />The present status of the property can be explained to the Board by you and this <br />proposal is signed by Bir. E. T. Thompson and myself by authority of 11r. Z hompson. <br />Since this seems to me to be a great, saving to the County under present arrange- <br />ments and an opportunity to purchase at an unusual bargain I hope it will receive <br />favorable consideration. we are able to make such a proposition now only because we <br />d have not as yet furnished the building which will mean a large outlay in c ash and which <br />we would be glad to avoid. <br />Very truly yours., <br />E. W. Thompson <br />D. H. McKee <br />The Board of County Commissioners then adjourned to meet on the 2nd day of July <br />1929. <br />ATTE1^: Chairman. <br />a C 1 e r k. <br />