4/17/1985 - Laserfiche WebLink

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APR 17 1985 BOOK CO pArE fig Vice Chairman Scurlock inquired about the parking question as related to a change of use, and Administrator Wright reported that he has discussed this with Walter Young of the City of Vero Beach, and if the building is used for offices, it does not constitute a change of use. Commissioner Bird inquired if the air conditioning is in good shape, and Director Dean stated that a new compressor was installed last year, and the building has a prestressed concrete roof which would allow another story to be added. Possibly, in the next five years, we may have to do some roofing. Commissioner Wodtke noted that he had hoped we could have acquired it for less, but if you consider land cost and replace- ment cost, we would be paying about $38 a sq. ft. He felt quite comfortable that this is a good competitive price, especially in view of the location and the need. He noted that so far we have only seen a preliminary MAI appraisal, and the final appraisal could come in a little different; he, therefore, would like to have the opportunity to see the final appraisal and evaluate it, but would recommend that we proceed with signing the intent to purchase subject to receipt of the final MAI appraisal. Attorney Brandenburg stated that the contract sets out that if the final appraisal is less than the purchase price, the County can cancel. He noted that the owner did delete the termite inspection clause and also required that the county take the building "as is." The termite inspection already has been done, however. Commissioner Bird inquired about the concept on funding. Vice Chairman Scurlock commented that Cash Forward is going to increase and the Buildings and Other Improvements Except Buildings accounts, and that all will be funded through whatever bond issue comes out of the Finance Advisory Committee's recommendation. Administrator Wright noted that we would like to repay Cash Forward for budgetary purposes when we do that bond issue. 27