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TO: Board of County Commissioners DATE: February 7, 1989 <br />FRO <br />SUBJECT: <br />James E. Chandler <br />• County Administrator REFERENCES: <br />FILE: <br />Attached is a proposal submitted to Mr. Edmund Ansin for purchase of the <br />76.93 acre tract for a regional park at Oslo Road and 20th Avenue. He has <br />transmitted this date his acceptance of the proposal. <br />Current year funding is available from the $200,000 budgeted for the <br />property and $350,000 in unanticipated revenue from the legal settlement for <br />ad valorem taxes on time sharing units. The final payments would be <br />budgeted the next two years and non ad valorem sources have been pledged. <br />It has been made clear by the negotiating team, that obviously the proposal is <br />subject to consideration and approval by the Commission. <br />PURCHASE PRICE: <br />DOWN PAYMENT : <br />CLOSING COSTS: <br />TERMS: <br />INTEREST RATE: <br />SOUTH COUNTY PARK <br />80 ACRES ON OSLO ROAD AND 20TH AVE. <br />$1,450,000 <br />$550,000 <br />$15,000 <br />TWO YEARS <br />9% <br />DOWN PAYMENT <br />FIRST YEAR <br />SECOND YEAR <br />TOTAL <br />PRINCIPAL <br />565,000 <br />450,000 <br />450,000 <br />$1,465,000 <br />9% <br />INTEREST <br />81,000 <br />40,500 <br />$121,500 <br />REMAINING <br />PRINCIPAL <br />TOTAL AMOUNT <br />565,000 <br />531,000 <br />490,500 <br />$1,586,500 <br />Administrator Chandler explained that as a result of our <br />negotiations with Mr. Ansin's representative, Mr. Ansin has <br />agreed to a purchase price of $1,450,000 for a <br />of property at Oslo Road and 20th Avenue which <br />$1,365,000 in 1987. <br />In addition, Mr. Ansin is <br />900,000 <br />450,000 <br />0 <br />76.93 -acre parcel <br />was appraised at <br />agreeable to one <br />initial payment of $565,000 and then equal installment payments <br />35 <br />FEB 14 li989 <br />F g 6 FAa 1 <br />