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AUG 2 21973 ON MOTION BY COMMISSIONER MASSEY, SECONDED BY COMMISSIONER SIEBERT, ' THE BOARD UNANIMOUSLY APPROVED PAYMENT OF $200.00 TO E.M.B..COLL"ARD APPRAISOR, FOR AN APPRAISAL OF FOUR BEACHFRONT LOTS IN PELICAN COVE SUBDIVISION II., AS REQUESTED BY THIS BOARD. THE BOARD DISCUSSED MAYOR ALFRED FLETCHER'S LETTER TO THE BOARD DATED AUGUST 15, 1973 REGARDING THE COUNTY:!S COMMITMENT TOWARDS THE PURCHASE OF BEACHFRONT LOTS NO. 1,2.3, AND 4, BLOCK I, PELICAN COVE SUBDIVISION II. ON APRIL 18, 1973, THE BOARD AUTHORIZED THE AMOUNT OF $200,000.00 TOWARDS THE PURCHASE OF THE ABOVE DESCRIBED BEACHFRONT LOTS, SUBJECT TO STATE AND FEDERAL REVENUE SHARING PAYING $400,000.00 AND THE CITY OF SERO BEACH CONTRIBUTING $200,000.00. THE TOTAL COST OF THE PROPERTY WAS $800,000.00 THE OWNERS OF THIS PROPERTY REJECTED THE CITY- OFFER OF $800,000.00 AND ON JUNE 4, 1973, THEY RAISED THE PRICE OF THIS PROPERTY TO $1,000,000.00. MAYOR FLETCHER ASKED IN HIS LETTER OF AUGUST 15, 1973, WHAT AMOUNT THE BOARD OF COUNTY COMMISSIONERS WILL COMMIT TOWARDS THE PURCHASE OF THESE LOTS AT THE NEW PRICE. AFTER MUCH DISCUSSION COMMISSIONER SIEBERT MOVED THAT THE COUNTY COMMIT UP TO, BUT NOT TO EXCEED, $230,000.00 OR ONE-FOURTH OF THE APPRAISED VALUE OF $920,000.00 ON LOTS 1,23, AND 4, BLOCK I, PELICAN COVE SUBDIVISION II, TO BE PURCHASED JOINTLY BY THE CITY OF VERO BEACH AND INDIAN RIVER COUNTY, BEING TENANTS-IN-COMMON WITH EACH PART OWNING AN UNDIVIDED 1/2 INTEREST, SUBJECT TO RECEIVING STATE AND FEDERAL MATCHING FUNDS, CHAIRMAN LOY ASKED IF THERE WAS A SECOND TO THE ABOVE MOTION, THERE WAS NONE AND THE MOTION DIED FOR LACK OF A SECOND. - 53 - F y�;