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The Bell Road parcel just to the north has about 1,000' of <br />oceanfront, and together these parcels would be about 17 acres. <br />Strategically, this is right in the middle between Wabasso Beach <br />Park and Sebastian Inlet and for planning purposes, it is an <br />excellent choice. <br />Attorney Brandenburg reported that originally the Erdo <br />asking price was $3,500 a front foot, but they included all the <br />property on the west side of AlA. Subsequent to the Bell Road <br />property lowering their price, Mr. Schlitt indicated he would <br />match the price at $1,800 a front foot on the ocean and the <br />property on the west would be in the neighborhood of $450,000. <br />Mr. Schlitt informed the Board that he does have a small <br />interest in the Erdo tract, -but represents --a number of investors <br />in that parcel, and he would not be in a position to offer <br />anything different at this time. In addition, he did not want to <br />do anything that would jeopardize the possibility of a sale on <br />the Golden Sands parcel as he has worked very diligently with Mr. <br />Deprez to bring about a very attractive offering. <br />Attorney Brandenburg noted that an interesting point re the <br />Erdo and Bell Road parcels is that if you put these together, you <br />will get a 2/3 - 1/3 oceanfront breakdown, and possibly we could <br />ask the State to purchase the larger portion of this under the <br />Save Our Coast Program. <br />Attorney Brandenburg informed the Board that he contacted <br />Mr. Armfield of Armfield - Houck Appraisal to see how long it <br />would take to appraise some of these properties, and it seems <br />there is a timing problem. <br />Mr. Armfield informed the Board that he estimated about a 6 <br />weeks to two months timeframe to put together a fully documented <br />appraisal. He suggested that as an alternative, since he has <br />done some research on property in that area, he could issue a <br />letter of opinion of value. <br />9 <br />53 Pace 11 <br />MAY 2 1983 arc <br />