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BOOK 64 rVcF M <br />Q._R/W Acquisition, S. Indian River Blvd. (Zippy Mart) <br />The Board reviewed memo of Right -of -Way Acquisition Agent <br />Don Finney: <br />TO:THE HONORABLE MEMBERS OF THE DATE: APRIL 25, 1986 FILE: <br />BOARD OF COUNTY COMMISSIONERS <br />THROUGH: <br />MICHAEL WRIGHT, COUNTY ADMINISTRATOR <br />JAMES W. DAVIS, P.E. SUBJECT: INDIAN RIVER BOULEVARD- <br />$ PUBLIC WORKS DIRECTO"P SOUTH EXTENSION <br />ZIPPY MART, INC. PARCEL #100 <br />=�r <br />FROM: DONALD G. FINNEY, SRA REFERENCES: <br />RIGHT OF WAY ACQUISITION AGENT <br />nVgr' PTPTTrAT <br />The parent company policy is not to donate right of way. They have agreed <br />to settle at -the fair market value -of a two year old appraisal by Peter <br />Armfield, MAI., which is $1,000.00 per front foot on U.S. Highway 1 or <br />$5.235 per square foot. <br />The parcel contains 8,360 square feet with 40 feet of frontage on US#1. <br />Feb..29, 1984 Value <br />40 feet x $1,000.00 = $40,000.00 <br />8,360 sq. ft. x $5.235 $43,772.00 - <br />If we were to obtain an updated appraisal and from conversations with <br />Mr. Armfield and Mr. Edgar Schlitt indicates an increase in value of at <br />least $1,500.00 per lineal foot. <br />RECOMMENDATIONS <br />Staff recamtends and requests authorization to purchase at the property <br />owners willing price of $40,000.00 for the 40 lineal foot parcel. <br />W. <br />ON MOTION by Commissioner Lyons, SECONDED by Com- <br />missioner Bowman, the Board unanimously authorized <br />the purchase of the.Zippy Mart 40 lineal foot R/W <br />parcel at the owners' willing price of $40,000, as <br />recommended by staff. <br />22 <br />