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RESOLUTION NO. 2005- 016 <br />A RESOLUTION OF INDIAN RIVER COUNTY, <br />FLORIDA, APPROVING AN EXCHANGE OF <br />RIGHT-OF-WAY WITH INDIAN RIVER <br />ASSOCIATES, LLLP. <br />WHEREAS, Indian River Associates, LLLP owns 289 acres of property <br />adjacent to the southeast corner of 17th Lane and 27th Avenue SW.; and <br />WHEREAS, Indian River Associates, LLLP desires to acquire 3.508 acres of <br />County owned property abutting Indian River Farms Water Control District Canal B-10, <br />between 20th Avenue SW and 27th Avenue in exchange for 4.669 acres of property <br />that will become 21st Street SW and its right-of-way. <br />WHEREAS, Indian River County has agreed to pay additional compensation in <br />the amount of $15,093.00 to Indian River Associates, LLLP as part of the exchange; <br />and <br />WHEREAS, the exchange of property between Indian River County and Indian <br />River Associates, LLLP is part of a Second Amended Developer's Agreement <br />negotiated by the parties, and <br />WHEREAS, in addition to the exchange of property, the Developer's <br />Agreement and the amendments thereto provides for purchase of additional right-of- <br />way by <br />the County for 27th Avenue, 20th Avenue SW, construction of 21st Street SW, <br />construction of 20th Avenue SW, landscaping of 21st Street SW, sidewalk construction <br />and other site related improvements; and <br />WHEREAS, the terms and conditions of the proposed exchange have been <br />noticed <br />125.37 <br />in the newspaper once a week for two weeks pursuant to Florida Statute <br />1 <br />