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Nov CNI15 1991 _I BOOK 8 F,i E 661 SALE AND/OR TRADE OF PROPERTY ADJACENT TO TRACKING STATION PARK The Board reviewed memo from County Administrator James Chandler dated October 25, 1991: TO: Board *of County Commissioners DATE: October 28, 1991 . FILE., FROJames E. Chandler REFERENCES: • County Administrator In response to a recommendation from the Parks and Recreation Committee, the Commission requested that staff consider the feasibility of the sale and/or trade of the property adjacent to Tracking Station Park to the Town of Indian River Shores. The 5.39 acres was acquired by the County in 1976 for $200,000. A 1987 appraisal valued the property at $525,00.0. The property was valued at $700,000 by a July, 1991 updated appraisal ( Exhibit A) . Currently, there are no short or long range development plans for the property. It is my. understanding .conceptual plans were considered several years ago but not pursued. According to Town Manager Joe Dorsky, If scquired, there is consideration by the Town to utilize the property for a stormwater drainage retention area and perhaps, .some limited park use. However, there have been no formal decisions' ( Exhibit 13).' . .• _': :.1 .. L...'6 An exchange of :the property for Gifford Park had been suggested. The lease with the Town for the 38.96 acre Gifford Park extends through June, 2002. The property is valued at $575,000, according to a July, 1991 appraisal- obtained by , the Town ( Exhibit C) . Joe Dorsky indicated the Town would consider an exchange of the properties and payment of $125,000 to the County which. represents the difference in land value. yin ' considering the alternatives, there appears to be 'no question that at some point the County should acquire title to Gifford Park. Presently, there is no funding for the acquisition and a source would need to be identified prior to ' 2002.' The beach .'parcel is a highly desirable piece of property • and will certainly . continue to appreciate in value as time progresses. As such, the option to sell the property would continue to be viable if a determination were made not to use It for park purposes. As indicated previously, there are no current plans to expand Tracking Station Park by developing the parcel in question. There are presently six (6) county beachfront parks ( Exhibit D) totaling 191.8 acres. The 5.39 acres is not Included in that, total. Based on the criteria and projections contained in the Comprehensive Plan, . the projected beachfront park demand for the year 2010 is 157 acres ( Exhibit E) . As a result, additional beachfront park land acquisition or expansion is not one of the objectives in the Recreation and Open Space Element of the Comprehensive Plan. However, the Plan provides that the County shall develop one additional beach access ( not park) on the south barrier island by 1995 ( Exhibit F) . The access Is to be improved with a dune crossover, parking, and other facilities by 1996. At this time, the specific location, expense, and funding source, have not ,been determined. Ordinarily, any local government would be extremely reluctant to dispose of any beach property. However, in considering the countywide park needs, the ability to fund those needs, and the Comprehensive Plan beachfront park projections, in my opinion, the Indian River Shores proposal has merit. The beach property is not "critical" from the standpoint of the Comprehensive Plan projection of level of service and needs. An exchange for Gifford Park would eliminate the future acquisition expense. Additionally, the $125,000 could be applied to the south 32