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TO: Board of County Commissioners FROM: DATE: Charles P. Vitunac, December 28, 1988 County Attorney RE: SOUTH COUNTY LIBRARY SITE - PURCHASE OF LEASEHOLD INTEREST OF LAUNDROMAT Board Meeting - January 10, 1989 Indian River County is presently the owner of the entire block on which the South County Library wi l l be built. In the southeast corner of the block there is an existing commercial structure presently leased to two tenants --(1) the Downtown Supermarket which has a lease which will expire December 31, 1991, and (2) a laundromat which has a lease which can be extended through April 30, 1997. In the original purchase contract, the seller, Mrs. Moon, reduce) her offering price by $50,000 specifically to provide the County with a fund to be used to purchase the remaining time of the leaseholds of these two tenants. Since construction of the library can occur while the tenants are still in place and since the cost to the County to purchase the remaining leasehold interest of the supermarket would far exceed the amount of money available, staff has focused on -attempting to negotiate a fair price for having the laundromat vacate the premises at the same time as the supermarket lease expires, i.e., December 31, 1991. The attached agreement purchases the leasehold interest -of the laundromat from December 31, 1991 until April 30, 1997 for the amount of $50,000 with no attorney's fees or extra costs. Attached are letters from H. T. "Sonny" Dean, Director of General Services, which list costs which may reasonably be expected to be incurred by the County in maintaining the Laundromat building past December, 1991. Also attached is a letter from the architectural firm of Dow, Howell, Gilmore, Associates, Inc., which lists- reasons why the architects recommend that the County purchase the leasehold interest of the laundromat. For the foregoing reasons, staff recommends that the Board authorize execution of the attached agreement. JAN 10 1989 51 BOOK 75 FaGL583�