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r� <br />COURTHOUSE LAND ACQUISITION - HUBBARD PROPERTY <br />Administrator Chandler reviewed the following: <br />TO: Board of County Commissioners <br />FROM: Terrence P. O'Brien - Assistant County Attorney9/2, <br />DATE: September 16, 1991 <br />RE: COURTHOUSE LAND ACQUISITION PROGRAM - <br />S.R. HUBBARD PROPERTY <br />Mr. Hubbard, through his agent, has asked to appear before you to <br />discuss the sale of his property which is within the area being acquired <br />for the new courthouse complex. This appearance is scheduled for <br />September 24, 1991. <br />The Hubbard property was the subject of two appraisals, the low bid <br />being $167,000.00 and the high bid being $250,000.00. The County <br />staff offered Mr. Hubbard $312,500.00 which was rejected. Mr. <br />Hubbard is requesting $350,000.00. The above appraisals are now <br />stale; therefore, the staff has ordered an updated appraisal of the high <br />appraisal. This appraisal has been promised by September 23, 1991 and <br />It should, therefore, be available for consideration at the September 24, <br />1991 meeting. <br />On September 12, 1991 the County filed its petition in eminent domain <br />on the Hubbard property. On September 13, 1991 Mr. and Mrs. <br />Hubbard were served. <br />Administrator Chandler advised that we have received the <br />updated appraisal from Armfield-Wagner, and it is as follows: <br />ARMFIELD-WAGNER APPRAISAL & RESEARCH, INC. <br />PETER D. ARMFIELD. MAI, SRPA <br />RICHARD L. WAGNER. MAI <br />DANIEL D. FULLER. MAI, SRPA <br />September 23, 1991 <br />Board of County Commissioners <br />C/O Mr. Donald Finney <br />1840 25Th Street <br />Vero Beach, Florida 32960 <br />Dear Mr. Finney: <br />1940 1 OTH AVENUE. P.O. BOX 791 <br />VERO BEACH. FLORIDA 32961-0791 <br />TELEPHONE (407) 562.0532 <br />FAX 407-778-1121 <br />As requested, we have inspected the Hubbard property which is <br />an office building located at 1500 20th Street, Vero Beach, <br />Florida. This is for the purpose of providing you with an <br />appraisal of the Full Compensation based on the Market Value <br />of the fee simple interest to this property as of September 13, _ <br />1991. <br />The subject property is physically described in a full narrative <br />appraisal report which explains the analysis of data upon <br />which our value estimate is based. This appraisal report is in <br />SEP 24 191 <br />53 <br />'R0oQ 8 .4,341 <br />