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All ii <br />BOOK Si PAGE bb <br />TO: Board of County Commissioners DATE: June 3, 1991 FILE: <br />THRU: James E. Chandler <br />County Administrator/lam <br />APPRAISAL UPDATE ON 5 <br />SUBJECT: ACRES AT TRACKING <br />STATION PARK <br />FROM: Randy Dowling ` REFERENCES: <br />Ass't. to County Administrator <br />BACKGROUND <br />During the April 4, 1991 Parks and Recreation Committee. meeting, John <br />McDonald, councilman from the Town of Indian River Shores, discussed the <br />possibility of trading the town -owned 40 +/- acres at Gifford Park for 5+/ - <br />acres of undeveloped county -owned land at Tracking Station Park. During a <br />`. recent commission meeting, Chairman Bird asked staff to look into this matter. <br />The Tracking Station acreage is located within the Town of Indian River <br />Shores. Currently, the town leases Gifford Park to the County for $1.00 per <br />F year and that lease expires in 2002. An appraisal was done concerning the <br />acreage at Tracking Station Park in 1987. <br />CURRENTLY <br />As a prelude to considering this property trade, an update of the appraisal is <br />necessary. Since Armfield-Wagner Appraisal 8 Research, Inc, did the <br />original appraisal, that firm has been selected to do the update. <br />RECOMMENDATION <br />Staff recommends the Board approve obtaining an update of the -appraisal <br />concerning the 5+/- acres of county -owned land at Tracking Station Park. <br />The appraisal update will have a cost not to exceed $1,800 and will be <br />included in the next miscellaneous budget amendment. <br />Administrator Chandler advised that the appraisal done of <br />this property in 1987 indicated a value of $525,000, and he felt <br />that should be updated. <br />Commissioner Scurlock inquired if he was asking for an <br />appraisal of the Gifford site as well, and the Administrator <br />noted that he is not but understood the Town is doing that. <br />Commissioner Scurlock wondered if that appraisal normally <br />would reflect a 12 year lease on the property, and the <br />Administrator thought that it should. <br />ON MOTION by Commissioner Wheeler, SECONDED by Com- <br />missioner Scurlock, the Board unanimously authorized <br />staff to obtain an update of the appraisal of the 5 +- <br />acres at Tracking Station Park at a not -to -exceed cost <br />of $1,800. <br />22 <br />