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Board of County Commissioners <br />Meeting Minutes - Final May 16, 2017 <br />Recommended Action: This notice of public hearing is provided for the Board's information. No action <br />is needed at this time. <br />County Attorney Dylan Reingold read the notice into the record. <br />No Action Taken or Required <br />11. COUNTY ADMINISTRATOR MATTERS <br />11.A. 17-0520 Indian River Shores Property Right of First Refusal <br />Recommended Action: <br />Staff recommends the Board of County Commission waive the right -of -first refusal <br />for this transaction, and allow the Town Council to complete the sale to Lutgent <br />Companies as specified in the attached Real Estate Purchase and Sale Contract. <br />Attachments: Staff Report <br />Indian River Shores Letter Dated May 8, 2017 <br />Real Estate Purchase and Sale Contract <br />County Deed Dated March 16th, 1991 <br />County Administrator Jason Brown gave background on the 5.38 acre vacant parcel <br />of land at 5110 State Road Al A, adjacent to the County's Tracking Station <br />Oceanfront Park, which was offered for sale at an auction held by the Town of <br />Indian River Shores (the Town) on May 6, 2017. He explained that the deed to that <br />property grants the County the right -of -first refusal, and that staff is recommending <br />that the Board NOT exercise the County's right to purchase the property. <br />Commissioner Zorc sought and received information about the reserve amounts in <br />the County's General Fund. He also expressed concerns about proposed legislation <br />(Senate Bill 1774/House Bill 7105), which would increase homestead exemptions <br />for certain homeowners. <br />Administrator Brown acknowledged that the County's revenues would decrease <br />annually by approximately $3 million if the legislation passes. He also conveyed <br />that there was not an extra $4 million in the reserve funds to purchase the subject <br />property. Administrator Brown thereafter addressed the Board's questions and <br />observations on the County's funding priorities and commitments. <br />Joseph Paladin, President of Black Swan Consulting and Atlantic Coast Building, <br />stated that he supported the sale of the Town's property to the winning bidder, <br />Lutgent Companies, which he affirmed is a very reputable firm. <br />Bob Soos, 905 Surf Lane, spoke in support of land conservation, and requested that <br />the Board delay its decision for 90 days to see if there are other funding sources to <br />Indian River County Florida <br />Page 9 <br />