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Board of County Commissioners April 4, 2016 Page Two The Subject Property has a future land use designation of OS/R, Open Space Recreation. An appraisal performed in February, 2016 indicated that the highest and best use for the Subject Property is for development of residential uses, either single family, low density multi -family use, or a mixture of the two. The appraisal valued the Subject Property at $7.7 million, based upon two hypothetical assumptions. The first was that the Town Council would change the future land use to allow low or medium density residential development. The second was that the portion of Tracking Station Beach Park lying between the Subject Property and the Atlantic Ocean could be purchased, or an easement granted in favor of the Subject Property. The cover letter from Stephen J. Boyle, MAI, to the Town, concerning the appraisal is attached. Indian River County has a first right of refusal to purchase the property if the Town of Indian River Shores decides to sell the property. On March 29, 2016, the Town Council discussed the appraisal and directed Town staff to work with the County concerning access from the Subject Property. I The County Attorney's Office seeks guidance from the Board as to whether to explore options with the federal government on the release of the restrictions. r Humiston Park Property There is a parking lot located on the west side of Ocean Drive across the street from Humiston Park in the City of Vero Beach ("Parking Lot"). On September 13, 1944, the City of Vero Beach passed Resolution 302 stating Ithat "Indian River County has acquired title to certain lands within said county, and including the lands hereinafter described, and the Board of County Commissioners of said county is authorized under such chapter to dedicate to public use and purposes any such lands by resolution duly adopted by said Board, and upon request by a proper resolution from a public board and when such lands are within the corporate limits of a municipality, upon the concurrence of the governing body of such municipality." A copy of Resolution 302 is attached. In that resolution, the City of Vero Beach requested the Board dedicate various parcels, .including the Parking Lot, for public use. The resolution specifically notes that Parking Lot was for "park purposes." On October 3, 1944, the Board approved a resolution in which the Board stated that it "does hereby dedicate to public use and purposes the lands herein described", which included the Parking Lot for park purposes. A copy of the Board resolution is attached. There is no evidence that the City of Vero Beach obtained fee simple ownership of the Parking Lot. The IndianRiver County Property Appraiser website indicates that the Parking Lot is owned by the City of Vero Beach. In October, 2013, Atlantic Coastal Land Title Company, LLC issued an Ownership Report to Treasure Coast Title Agency of Vero, Inc. indicating that the Parking Lot is owned by the City of Vero Beach "by virtue of Resolution recorded October 3, 1944 in Indian River County Commission Minute Book 3, at Page 150." A copy of the Ownership Report is attached. The Parking Lot is zoned P-2, Park. In October, 2013, Assistant City Attorney for the City of Vero Beach, Peggy Lyon, noted that the City has continuously financed the maintenance of the Parking Lot as an over -spill public parking lot for Humiston Park and has more recently used the Parking Lot as a public Farmer's Market on Saturday mornings. The City receives a fee for the Farmer's Market. F,Utrom*.1 do'!GF%TRVB CC.Igendn.%1,_S_ph,, No ,,dx 210