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THE BOARD OF COUNTY COMMISSIONERS THEREUPON RECESSED AT <br />12:20 O'CLOCK P.M. FOR LUNCH AND RECONVENED AT 1:45 O'CLOCK P.M. <br />WITH THE SAME MEMBERS PRESENT. <br />VICE CHAIRMAN LOY BROUGHT UP THE EMERGENCY ITEM ADDED TO <br />THE AGENDA IN REGARD TO A POSSIBLE PURCHASE OF LAND OFFERED FOR <br />SALE BY THERMO ELECTRIC CORP. OF PROPERTY IN THE 201 IMPOUNDMENT <br />AREA NORTH OF THE NORTH RELIEF CANAL. <br />ATTORNEY COLLINS NOTED THAT EACH OF THE COMMISSIONERS HAS <br />RECEIVED A COPY OF TWO APPRAISALS. SUBSEQUENTLY, THERE HAVE BEEN <br />ADDITIONAL APPRAISALS, AND HE REQUESTED THIS ITEM BE ADDED TO THE <br />AGENDA BECAUSE APPARENTLY A COUPLE OF OFFERS HAVE BEEN MADE ON THE <br />PROPERTY, AND IF THE COUNTY IS INTERESTED IN TAKING ANY ACTION, HE <br />BELIEVED IT SHOULD BE CONSIDERED NOW. <br />ATTORNEY QUINN INFORMED THE BOARD THAT HE REPRESENTS THE <br />EMPLOYEES PROFIT SHARING PLAN AT THERMO ELECTRIC CORPORATION, WHICH <br />IS HEADQUARTERED AT SHADOWBROOK, NEW JERSEY. HE EXPLAINED THAT THE <br />PROPERTY IN QUESTION CONSISTS OF APPROXIMATELY 55 ACRES LOCATED <br />IMMEDIATELY NORTH AND ABUTTING THE MAIN CANAL AT THE RIVERFRONT. <br />HIS CLIENTS BECOME INVOLVED IN THIS BY VIRTUE OF THE FACT THAT THE <br />PROFIT SHARING PLAN INVESTED IN MORTGAGES COVERING THIS PROPERTY, <br />AND IT ENDED UP IN A FORECLOSURE SUIT. THE LITIGATION IS NOW CON- <br />CLUDED, AND HIS CLIENT WISHES TO SELL AS EXPEDITIOUSLY AS POSSIBLE <br />WITHOUT GETTING INTO CONTINGENCY CONTRACTS, ETC. MR. QUINN STATED <br />THAT THEY WOULD BE WILLING TO SELL THE 55 ACRE TRACT, WITH NO <br />CONDITIONS OR CONTINGENCIES IN THE CONTRACT, FOR A NET TO THEM OF <br />$175,000. HE CONFIRMED THAT A COUPLE OF OFFERS ARE CURRENTLY <br />PENDING. <br />INTERGOVERNMENTAL COORDINATOR THOMAS REPORTED THAT REAL <br />ESTATE AGENT, PAUL KOHLER, HAD ADVISED HIM THAT THE PRICE WAS <br />NEGOTIABLE. <br />ATTORNEY QUINN BELIEVED THAT MR. KOHLER WAS ACTING ON AN <br />OPEN LISTING AND HAVE HAVE QUOTED A FIGURE IN GOOD FAITH, BUT OFFERS <br />HAVE BEEN MADE SINCE THAT TIME AND HE IS OBLIGATED TO BE SURE THAT <br />HIS CLIENTS RECEIVE THE VERY BEST RETURN. HE NOTED THAT THE OFFERS <br />WHICH HAVE BEEN RECEIVED CONTAIN NO CONDITIONS OR CONTINGENCIES <br />INVOLVING DEVELOPMENT, BUT THERE ARE ACCESS CONTINGENCIES. <br />JUN 2 5 1980 51 <br />� I <br />