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TO: Park and Recreation DATE: May 18, 1983�� oF5 F�GE04 Committee Beach Acquisition Sub -Committee SUBJECT: Summary of Negotiations with Oceanfront Parcel Owners FROM: 'Gary M. Brandenburg REFERENCES: County Attorney STANNY PROPERTY This property is immediately north of the Round Island Park and is comprised of approximately 310 feet of oceanfrontage with a 600 foot depth being approximately 4.4 acres. Chairman aird and I initially met with Mr. Stanny on May 2, 1983. Mr. Stanny indicated that he purchased the property in the early 1950's and that his ownership runs all the way to the river. He was interested in selling for various reasons including that he believes it to be a detriment to be directly adjacent to an already existing County park and that his children have located elsewhere throughout the United States. During this initial meeting Mr. Stanny indicated that terms on the property would be negotiable and that he might be interested in spreading the purchase price over more than one year. He indicated that he has been trying to exchange the property for several years but would only be interested in an exchange of other oceanfront property. There have been no recent appraisals on the property. We discussed the tax advantages of dealing with the County with Mr. Stanny and asked hi.ni to consider them and to report back. We ruet: again with Mr. Stanny on May 5, 1983. At this time he had decided that he would definitely like to sell the property if he could. The price would be $650,000 for the property running from the ocean to A- 1-A constituting $2,096 a front foot or he would sell all the land ocean to river for $500,000. We once again emphasized the tax aspects of dealing with the County and asked Mr, Stanny to thoroughly consider them and let us know whether he would be will- ing to consider further price reductions. I last talked with Mr. Stanny on May 12, 1983, when he indicated that the $650,000 price was his bottom line and that tie was not amenable to trying to work out a further price reduction due to tax advantages. CAIRNS PROPERTY I met with Bob Cairns and Bob Kohler on May 15, 1983, to discuss the possible purchase of a parcel comprising 4.29 acres with a 350 foot frontage on the ocean and a 535 foot depth. The asking price for.the property is $4,000 a front foot or $1,400,000 total. Mr. Cairns owns 650 feet of ocean frontage; however, he prefers to keep 300 feet to be used as a beach club in the future. Mr. Cairns owns the property with a group of which he and his brother are thp majority interest holders. Because of the diversity of the investors in the group, he feels that it would prefer a straight cash sale or a sale under threat of condemnation. Mr. Cairns does not appear to be particularly anxious to sell the property which his group owns free and clear. He recognizes that his parcel is relatively close to the Nutt parcel and that if the County is successful in purchasing the Nutt parcel the County would, in all likelihood, not be interested in his parcel. pli orm 100-101-1 2 e � a