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RESOLUTION 2011- 007 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY APPROVING AN EXCHANGE OF REAL PROPERTY WITH THE CITY OF VERO BEACH, FLORIDA WHEREAS, the City of Vero Beach, Florida ("City") is the owner of a certain parcel of real property located within the City which is more fully described on Exhibit A attached hereto ("Cloverleaf Property"); and WHEREAS, Indian River County, Florida ("County") is the owner of a certain parcel of real property also located within the City which is more fully described on Exhibit B attached hereto ("Parking Property"); and WHEREAS, in the opinion of the Board of County Commissioners, the Parking Property is not needed for County purposes and it is in the best interest of the County to exchange the Parking Property for the Cloverleaf Property; and WHEREAS, the exchange transaction will enable the County to (i) combine the Cloverleaf Property with adjoining property already owned by the County, which property is leased to MiLB Vero Beach, LLC ("MiLB") and operated by MiLB as the Vero Beach Sports Village, and (ii) construct upon the Cloverleaf Property youth and softball dimension baseball fields, and related facilities, which will enhance the Vero Beach Sports Village and thereby benefit the people of Indian River County; and WHEREAS, the terms and conditions of the proposed exchange transaction have been noticed in a newspaper of general circulation in Indian River County once a week for two consecutive weeks pursuant to section 125.37, Florida Statutes, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, THAT The Property Exchange Agreement between the County and the City, providing for the City to transfer the Cloverleaf Property to the County and the County to transfer the Parking Property to the City is hereby approved, and the Chairman is authorized to execute the agreement on behalf of the County. Upon satisfaction of all conditions set forth in the agreement, the Chairman is authorized to execute all documents necessary to effectuate the exchange: A copy of the agreement is attached hereto as Exhibit C. F:IAownci l,41aWDndgemnm DOL tont—wORESOLUDONAPPRO) ING LA' CH. INGEd GREEMENT dncPage % of