Laserfiche WebLink
� � r <br />ASSIGNMENT OF OPTIONS FOR SAVE OUR COASTS PROPERTY <br />Attorney Brandenburg recalled that he had obtained <br />three options under the "Save Our Coast" program on the <br />Perlini, West Erdo and Morris tracts, and recommended that <br />these options be formally assigned to the State so that we <br />can place them before the Governor and the Cabinet for the <br />State to exercise those options. <br />ON MOTION by Commissioner Lyons, <br />SECONDED by Commissioner Bowman, the <br />Board unanimously (4-0, Commissioner Bird <br />having left the meeting), approved assignment <br />to the State of the options for the Perlini, West <br />Erdo, and Morris tracts. <br />Attorney Brandenburg advised that he has prepared a <br />Notice of Exercising of Option for the above tracts. <br />Included in that is an acknowledgment by the County and the <br />property owner that it is a valid exercise of the option <br />agreement and a modification of the original option terms. <br />The County Attorney recommended that the Board approve the <br />Notice of Exercising of Option for the three tracts. <br />Attorney Brandenburg explained that the State's process <br />is such that they have to go through a very arduous <br />appraisal process and an appraisal review process. He <br />reported that one appraisal is in on these properties and <br />another one will be submitted either today or tomorrow. It <br />is possible that they will not be reviewed and finalized by <br />the time the Cabinet considers these options. When they <br />review these appraisals, they set a maximum price. In the <br />event that the option price that we have negotiated exceeds <br />that maximum price, the State will not be able to pay it, <br />but they will already have exercised the option and would <br />60 <br />AUG 81994 BOOK 5)e7 1,1,.,F-947 <br />