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TO: James E. Chandler, <br />County Administrator <br />FROM: James W. Davis, P.E.,. <br />Public Works Director v <br />SUBJECT: Contract to Purchase Lots 9 and 10, Block 7, Booker T. <br />Washington Addition - Indian River County <br />Administration Building/Health Department Area <br />DATE: August 16, 1989 <br />DESCRIPTION AND CONDITIONS <br />Staff has been negotiating with the property owner, Brenda Sue <br />McWilliams, for the County to purchase lots 9 and 10, Booker T. <br />Washington Addition Subdivision. This property is located at the <br />southeast corner of 27th Street and 18th Avenue which is <br />contiguous to current county owned property located north of the <br />County Administration Building (see attached sketch). <br />Initially, the property was offered to the County for $50,000. <br />The lots are 501 x 125' each, for a total of 12,500 SF. Recent <br />appraisals in the area (Armfield and Wagner Appraisers and Osteen <br />Appraisers) indicate that the property in this area is valued at <br />$3.68/SF. The original offer to the County was $4/SF. Staff has <br />negotiated the contract price down to $46,000 which equates to <br />$3.68/SF. <br />ALTERNATIVES AND ANALYSIS <br />The alternatives are as follows: <br />Alternative 1 <br />Purchase the two lots for $46,000. Funding to be from <br />Optional One Cent Sales Tax Revenue. Closing to be after <br />Oct. 1, 1989. <br />Alternative 2 <br />Indicate to the seller that the County does not wish to <br />purchase the land. <br />RECOMMENDATIONS AND FUNDING <br />It is recommended that the County purchase the two lots for <br />$46,000. Funding to be from One Cent Optional Sales Tax. <br />AUG 2 2 1989 <br />47 6QGK �� (� f'.VE�l� <br />L <br />