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Florida Real Estate Inc. <br />SEBASTIAN OAKS <br />1331 NO. CENTRAL AVE. <br />SEBASTIAN; FL. 32958-0867 <br />305-589-4377 <br />October 4, 1982 <br />W.'& Mrs. -Robert Graessel <br />C/o Richard M. Harris <br />-75 N. Royal Poinciana Bvd. <br />Miami Springs, Florida 33166 <br />r <br />This is to inform you that the un -recorded subdivision of Pine Lake Estates, <br />Indian River County, Florida has been re -zoned from agriculture to residential <br />"RIE" Country Estates. <br />For a building permit to be issued under the "RlE" zoning a minimum of 1 acre <br />of land is a requirement with no side line being less than 150 feet in length. <br />It is unfortunate that your land does not meet this requirement; however, I <br />have a suggestion that you should give serious consideration, if you wish to <br />sell at a good price. <br />Mid -Florida Real Estate, Inc., represents one owner whom has 161 lots in <br />Pine Lake Estates. We have packaged those lots in one acre tracts that meet <br />the "R1E" minimum size requirements and are advertising the tracts for sale in <br />various Real Estate Publications. Since there are no improvements and the sand <br />roads under this zoning will remain private and be maintained by the owner, we <br />have priced each tract at about $2,000.00 per lot - tracts being $10,000.00 to <br />$20,000.00 for 1 to 5 acres. <br />Should you wish to sell your land, sign the enclosed "Listjng-Contract" and <br />return in the enclosed envelope. This will enable us to package your land <br />with that of others to meet the zoning requirEnteuts of ours acre +. <br />If you do not wish to sell but would like to buy additional lots or a tract in <br />Pine Lakes, write or call us for more information. <br />Sincerely, <br />as � �ro-ab <br />Russ Trout <br />REALTOR -Associate <br />In further discussion it was pointed out that the <br />statement made by Mid -Florida Real Estate in regard to the <br />rezoning is not entirely correct. Commissioner Scurlock <br />believed this letter verges on the fringe of fraud, and <br />felt it is incumbent on the Commission to at least refer <br />this to the Real Estate Commission. <br />Commissioner Fletcher commented that he had felt as a <br />result of this rezoning we would limit the density potential <br />in this area, and Mr. King explained that it depends on the <br />situation. Mr. Golien has bought a number of these lots and <br />intends to record a plat in accordance with the R -1E zoning <br />which would require lower density. Owners of record, <br />however, can build on their lots. There is a good chance <br />that density will be lowered somewhat. <br />55 <br />SAN 5 19 3 BOOK 2 -m-F I <br />I <br />