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associated with the potable water reservoir system, the purchase of the property is not <br />economically feasible at this time. In addition, potential DOH setback requirements, close proximity <br />to residential neighborhoods, no expansion capabilities and difficult raw water quality treatment <br />needs prohibit this site from being an ideal location for an alternative water supply system. <br />Therefore, staff recommends that the Board select Option 1: Cancel Contract. <br />If Option 1 is selected, the Board should direct the Chairman to sign Exhibit B: Termination Notice <br />and Agreement on their behalf and send the document to the seller on or before Monday February <br />29, 2016. <br />ATTACHMENT(s): <br />1. PM Smith Due Dilieence and Opinion of Probable Cost Report <br />PM <br />file in Board of County Commission Office) <br />2. Exhibit B: Termination Notice and Agreement <br />D FOR <br />Joseph A. Baird, County Administrator <br />Indian River Co. <br />A ro ed <br />Date <br />Administration <br />2 <br />Legal <br />Budget <br />b �6 <br />Utilities <br />Utilities -Finance <br />��ta <br />Public Works <br />�Z- to -/6 <br />R <br />J:\Utilities\UTILITY - Engineering\WATER\Alternative Water Supply\Portofino Preserve aka Blackstone 83 acre site\Due Diligence Report for BCC <br />02_16_2016\Agenda - Due Diligence Report and OPC for 83 acre site for BCC meeting 02_16_2016.docx Page 14 of 14 112 <br />