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6/8/1983
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6/8/1983
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JUN 81983 <br />76 <br />frontage provides the advantage of more area to park cars <br />and still have them better buffered. <br />Ed Schlitt, Realtor, informed the Board that the Erdo <br />Investor Group holds a current mortgage on the Bell Road <br />property, and they would be willingr to continue to hold that <br />mortgage for the county, which would enable the county to <br />tie the property up at the current price while waiting to <br />see what happens with the state program. <br />In discussion, the Attorney noted that while the <br />mortgage they hold would be sufficient to leave the county <br />enough cash to tie up all the properties, it is against the <br />arbitrage rules to have notes and bonds outstanding for the <br />same issue at the same time. <br />Commissioner Scurlock stated that he would be in favor <br />of a motion to acquire the Bell Road, Erdo, and Stanny <br />properties, which would amount to approximately 3.58 <br />million. <br />Attorney Brandenburg recommended the Commission ask the <br />property owners if they have anything further to say before <br />the decision is made. <br />Mr. Deprez, who represents the property owners of the <br />Golden Sands parcel, concurred with Mr. Schlitt that because <br />of the low prices right now, it is very important for -the <br />County to acquire all the properties. He offered.further <br />alternatives regarding an 8% mortgage and the possibility <br />that they could buy back from the County the piece they <br />donated. <br />Commissioner Lyons felt the main problem is that we <br />still have an unsolved problem in connection with Wabasso <br />Beach Park and do not know what the state will''do with <br />matching funds. <br />Commissioner Scurlock agreed we need to continue our <br />efforts in the Wabasso Beach area and pointed out the <br />EC <br />
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