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8. Q LEASE EXTENSION, 6855 66TH AyENUE, VERO BEACH. FL, 66TH A VENUE <br /> PROJECT # 0370, OWNER : INDIAN RIVER COUNTY. TENANT' JOHN A <br /> JACKSON, JR. <br /> Chairman Solari recalled that in May 2009 , the Board adopted a policy stating that a <br /> property owner leasing back his/her former property after the County ' s acquisition of same, <br /> should pay fair market value rental rates after the initial two -year leaseback period . He asked <br /> why, in light of that policy, staff' s recommendation was to extend Mr. Jackson ' s lease at the rate <br /> of $ 1 . 00 per month, the original rate in the purchase agreement when the County acquired the <br /> parcel in March 2009 . <br /> Public Works Director Christopher Mora explained that the lease had been approved <br /> prior to the Board ' s adopting the fair market value policy, and that in mediation sessions Mr . <br /> Jackson understood that his rent would be $ 1 . 00 per month for two years , or until 60 days after <br /> the County bids the project . Director Mora noted that the project had not come to fruition in the <br /> time frame originally anticipated and was still delayed; thus Mr. Jackson could continue leasing <br /> the property . He noted that Mr. Jackson is taking good care of the property . <br /> Chairman Solari did not sanction the County continuing to lease the property for $ 1 . 00 <br /> per month; however, he acknowledged that Mr . Jackson' s rental amount should be reduced and <br /> not based on fair market value . <br /> MOTION WAS MADE by Commissioner Davis to <br /> approve staff' s recommendation . Motion DIED for lack <br /> of a second . <br /> Commissioner Flescher supported having the rental rate coincide more with the fair <br /> market value . <br /> 141 PG 486 <br /> October 4 , 2011 13 <br />