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ACQUISITION OF LOWENSTEIN BEACHFRONT PARCEL <br />County Attorney Vitunac reviewed the following memo: <br />TO: The Board of County Commissioners <br />DATE: July 7, 1987 <br />SUBJECT: Acquisition of Lowenstein Beachfront Parcel <br />FROM: Bruce Barkett - Assistant County Attorney <br />Staff has been involved_ in negotiations to determine a <br />purchase price for the Lowenstein beachfront parcel. A map <br />is attached to show the location of the 157 front foot <br />parcel. The seller has agreed to a purchase price of <br />$1,600.00 per front foot. The total purchase price would be <br />approximately. $251,200.00, subject, of course, to approval <br />by this Board. <br />Charles Vitunac, Charles Balczun and I had considered <br />recommending acquisition of the parcel in three separate <br />purchases to spread the payments over three years; however, <br />division of the property in that manner would result in an <br />illegal subdivision. <br />This matter is put before the Board for guidance as to how <br />to structure payments for the property. It is recommended <br />that the County enter into a contract with the seller to <br />acquire the property for the price mentioned with a closing <br />date which falls after the new fiscal year begins. The <br />purchase price could be budgeted from anticipated ad valorem <br />tax revenues and there would be only one closing for the <br />entire tract. <br />S. 6 Al Secr. /D , Twp 3/S., RN4- 31 E. <br />IND/RN )i/✓ER COUNTY, FLORIAV <br />GOVT \ \ LOT 6 <br />z � / <br />//o PAOCE <br />C,0V . LOT // <br />a <br />BOOK <br />83 <br />r `J <br />� F] t epi <br />