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On Motion by Commissioner Wodtke, seconded by <br />Commissioner Lyons, the Board unanimously accepted the <br />paving and drainage improvements for Laurelwood Subdivision <br />Unit 4 and approved release of the remaining 10% of the <br />Performance Bond in the amount of $6,513.18, plus accrued <br />interest. <br />DISCUSSION RE COMMITMENT FOR FUNDING OF "SAVE OUR COAST" <br />W -09Z i= U <br />The Board reviewed the following memo: <br />TO: The Honorable Members of the DATE: May 21, 1982 FILE: <br />Board of County Commissioners <br />THRU: David L. Greene, <br />Assistant County Administrator <br />SUBJECT: Committment for Funding of <br />"Save Our Coast Program" <br />FROM: James W. Davis,P.E REFERENCES: Elton J. Gissondanner,Execufive <br />Public Works Director Director, Florida Dept. of Natural <br />Resources, to Honorable Patrick B. <br />Lyons dated May 13, 1982 <br />DESCRIPTION AND CONDITIONS <br />The Department of Natru_al Resources has determined that two of the four <br />parcels which the County has applied for acquisition funds under the "Save <br />Our Coast" program are being nominated to the Governor and Cabinet for inclu- <br />sion on a priority list iif July, 1982. The two properties nominated are: <br />1) a 16.5 acre ± tract immediately south of the Wabasso Beach Park <br />2) a 22.5 acre ± tract south of the Seagrove Development north of the <br />Moorings. <br />In the D.N.R.'s May 13 letter, it is stated that the County must submit <br />an early expression that it will develop, operate, and maintain the site(s) <br />after acquisition. 4 <br />Additionally, the D.N.R. asks that the County advise the agency of the <br />amount of funding the County is willing to commit at this time. A response <br />is to be submitted prior to June 1, 1982. <br />ALTERNATIVES AND ANALYSIS ' <br />Beach front property in the area of Parcel # 1, Wabasso Beach, has pre- <br />viously sold for $2,000 to $2,500. per front foot. Since this parcel contains <br />1200 feet of ocean frontage, its purchase price could range from $2,400,000 <br />to $3,000,000. In taking an average value, a figure of $2,700,000. is appli- <br />cable. If the County were to obligate 10% of the cost,the County's share <br />would be $270,000. <br />JUN 21982 wK , 4.9 pAtE914 <br />58 <br />