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portion, however, was valued at $90,000, and Mr. Stanny, who <br />does not particularly want to sell this portion, has <br />submitted a signed contract for $125,000. This is $35,000 <br />above appraisal, and staff recommends against that purchase. <br />Commissioner Lyons commented that some of the contracts <br />indicate they are not recordable, and Attorney Brandenburg <br />explained that normally a sales and purchase agreement is <br />not recordable; some of the contracts, however, include <br />options and rights of first refusal, and he wanted those to <br />be recordable. <br />Deeds, of course, are recorded on closing. <br />Attorney Brandenburg continued that on the Golden Sands <br />property, the contract price is $2,015.825 for the land east <br />of AlA, and the appraiser's opinion of value is $2,250,000, <br />or $1,953 a front foot compared to our price of $1,750, <br />which works out to $203 less a front foot. Also included is <br />a donation of four acres all west of AlA, which are <br />appraised at $37,097 an acre, or $148,000, as well as a <br />right of first refusal on the remaining 10 acres at $35,000 <br />an acre, on which the appraiser's opinion indicates a value <br />of $370,000. <br />Attorney Brandenburg then reported that the oceanfront <br />portion of the Erdo property, on which we have a contract <br />price of $871,200, has been appraised at $930,000, or $1,921 <br />a front foot vs. our price of $1,800 a front foot. The Erdo <br />owners also have indicated they will donate 4 acres west of <br />AlA valued at $32,650 per acre and will give the County an <br />option and right of first refusal on 10.395 acres for <br />$30,000 an acre, or $311,850, which is also below the <br />- appraised value of the land. <br />Attorney Brandenburg summarized that if the County <br />were to purchase all the parcels, excluding the Stanny <br />7 <br />sea 53cf 67 <br />