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Options for Consideration Based on the information provided thus far, it appears that there are four options for the Board to consider. Option 1: Cancel the Contract If the Board decides not to purchase the subject property, the contract requires that the seller be given written notice on or before February 29, 2016 (the end of the Feasibility period). If that is the case, the Board should authorize staff to prepare Exhibit B and authorize the Chairman to sign. Option 2: Purchase the land and reserve for future use If the Board decides to purchase the 83.13 acres, it will acquire the property $400,000 below present market value. The County could then use time to determine the highest and best use of the land. Option 3: Purchase land and pursue Storm Water Park/ TMDL Removal If the Board decides to purchase the property for a storm water park, it should use Optional Sales Tax funding. The land would still need to have a full environmental assessment to determine the wetland types and impacts from a storm water park. Osprey Marsh's treated water could be used to fill the reservoir negating the need to maintain the lateral J-1 canal conveyance system. Planning and coordination with IRFWCD may be necessary to operate the reservoir properly for drought/ wet weather/ emergency events if a new discharge is created at the Lateral J canal. The park could be operated and maintained by the storm water division within public works if sufficient staff time is allotted for the site. Cost share grants from the SJRWMD/DEP/EPA should be pursued to reimburse the County for the land acquisition and/or offset the capital costs needed to construct the facility. Public access could be a positive feature of the storm water park. Option 4: Purchase and develop reservoir as water source for new Water Treatment Plant If this option is selected, there would need to be a much greater amount of time and money spent on determining all the logistical, financial and operational requirements to bring this project to fruition. It is a multi-year process that will involve people from the local, state and federal levels to address much of what has been identified in the agenda item & CDM Smith report. Funding a project of this magnitude will require a substantial investment, not only on the construction portion of the project, but also because the operational costs are 3x higher for less water produced for consumption. Rate studies would be necessary to identify the full impact to the utilities' rate payers and the Utility Department should bonding be required. In verbal conversations with SJRWMD, staff are excited about such an endeavor but warn that cost share funding dollars are only given out year to year, are subject to the governing board approval and may not be relied upon for long term commitments or funding levels. As noted at the December 15, 2015 BCC meeting, the parcel for sale is sold AS IS WHERE IS. The onus will be on the buyer to ensure that there are no issues that would affect the sale of the property. Having completed some of the due diligence associated with the subject property, it does not appear that there are any environmental issues that would adversely affect the County's ability to purchase the land, but there are substantial costs associated with a future potable water reservoir system. 1:\Utilities\UTILITY - Engineering\WATER\Alternative Water Supply\Portofino Preserve aka Blackstone 83 acre site\Due Diligence Report for BCC 02_16_2016\Agenda - Due Diligence Report and OPC for 83 acre site for BCC meeting 02_16_2016 v2 cmc.docx Page 12 of 14 110