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130 <br /> Attorney's Matters 9/17/13 <br /> Ofc of <br /> INDIAN RIVER COUNTY <br /> t <br /> ATTORNEY <br /> Dylan Reingold.,County Attorney <br /> William K.DeBraal,Deputy County Attorney <br /> MEMORANDUM <br /> TO: Board of County Commissioners <br /> FROM: William K. DeBraal, Deputy County Attorney(d <br /> 061 <br /> THROUGH: Dylan Reingold, County AttornevPN <br /> A <br /> DATE: September 9, 2013 <br /> SUBJECT: Approval of Agreement to Purchase and Sell Real Estate with <br /> Schacht & Co. Inc. <br /> M O <br /> The County purchased 2.8 acres of property from Schacht & Company, Inc. ("Schacht") <br /> in 2009 in order to construct a stormwater pond for the 66th Avenue Project from 16th to <br /> 4th Street. A copy of a sketch and legal description of the property purchased is <br /> attached to this memorandum. The pond parcel was cut out of a larger 3.3 acre parcel <br /> of property, leaving a 0.5 acre remainder. The property is zoned A-1, Agricultural, up to <br /> 1 unit per 5 acres. A single family residence would have been permitted on the original <br /> parcel despite the parcel being less than 200,000 square feet in size. <br /> The pond parcel was purchased for $125,627 or $1.03 per square foot. There were no <br /> engineering fees, attorney's fees or engineering fees incurred with the pond parcel <br /> purchase. The selling price of $44,866 an acre was a typical price paid for unimproved <br /> agriculturally zoned property for the project. Schacht was a willing seller, cooperating <br /> with the County in the purchase and sale of the property in this arm's length transaction. <br /> After selling the pond parcel, Schacht was left with a 0.5 acre remainder parcel. The <br /> County and Schacht have recently learned that since the remainder parcel was created <br /> in 2009 (long after 1970 zoning laws came into effect) the remainder parcel is <br /> unbuildable in its current state as it is under the 200,000 square foot minimum required <br /> in the A-1 zoning district. To further complicate matters, the parties discovered the <br /> current configuration of the pond parcel and remainder parcel causes the remainder <br /> parcel to be landlocked with no legal ingress or egress. <br /> isUan diver Ca Ap ed Date <br /> (� Admin. y 1a ,3 <br /> Ar'PROVED FOR--------- <br /> B.C.C. MEETING - PULAR AGENDA_ Budget tl t <br /> Dept. 140 <br /> l Rick hhtr• <br />