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NAY 7 1986 <br />April 24, 1986. <br />TheMoofings <br />Bruce Barkett, Esq. <br />Assistant County Attorney <br />Indian -River County <br />1840 25th Street <br />Vero Beach, Florida 32960 <br />Dear Bruce: - <br />BOOK 64 f -4. <br />' 3 <br />J IIC- <br />We appreciate you and Tommy Thomas meeting with Don Proctor <br />and myself on March 25, 1986 to discuss The Moorings <br />reacquisition of Parcel B, Unit 2, The Moorings. In that meeting <br />we were advised that the County has abandoned.all plans for a <br />bridge landing site as was originally contemplated for that <br />property. As I explained in that meeting, the County required <br />that Parcel B be conveyed to them without a reverter clause, as <br />originally proposed, should the valid public purpose become <br />frustrated. This .-a.—Iroximate site was the location of abandoned <br />"Floralton Boulevara .r the plat of the property previously <br />owned by Colonel Josepr, at Plat Book 3, page <br />30, in the Public Records c_ L.—V­ '.,-aunty. It is our <br />position that the property should be returned to -us for no <br />consideration in light of the aforesaid equities. <br />However, we were persuaded for several reasons to make an <br />offer to the County to purchase the property.- Foremost among <br />these reasons is Tommy Thomas's explaining to us that monies <br />derived from the sale of this property would be used for <br />acquisition or betterment of parks in Indian River County. We <br />are therefore proposing to purchase the property for $60,000 <br />($30,000 per unit - two units to be built on the said lot) -in <br />accordance with the enclosed contract. The terms include the <br />county allowing us to build a duplex on the property. <br />We feel this is a fair and reasonable price. You advised us <br />that while the County is not paying taxes on the property, it is <br />carried on the Assessor's books for considerably more than that <br />amount. We explained to you that during the period in which we <br />were being billed for taxes, as late as 1981, the assessed value <br />was $15,960. Given the restrictions on the property, were we in <br />your position (save not having to pay taxes on the property), we <br />would surely have protested the current assessment.-- <br />ssessment. Given the <br />factors set forth in FS 193.011 for determining the just value of <br />the property, we are quite assured that we would prevail in <br />having the property revalued. Also given that the restrictions <br />were imposed by The Moorings Development Company., as grantor, in <br />conveying the property to the County, we are the only logical <br />purchaser of the property. To consider allowing any outside <br />interest to purchase this property would -only add insult to <br />injury. -You may -be assured we would not release the <br />restrictions! That unpleasant thought aside, we hope that you <br />will forward our good faith offer to the County Commission for <br />their consideration. I would also be pleased to discuss this <br />matter further with any Commissioner who wishes additional <br />information. <br />Yours very truly, <br />THE M00 NGS DEVELOPMENT COMPANY <br />Dorot Hu son <br />88 Vice Pre /Staff Counsel <br />