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"Approved Appraised Value" Determination <br />Under Phase 6, the proposed revisions specify how appraisals will <br />be sought and used under different circumstances. These procedures <br />are consistent with state cost -share agency procedures. <br />The main purpose of this section is establishing criteria to <br />determine an "approved appraised value", which is the maximum <br />amount of money which may be paid for a land purchase. The <br />"approved appraised value" is not intended to be a negotiation <br />value or target price, but merely an upper limit. The changes <br />proposed In this section address instances where two obtained <br />appraisals differ significantly (more than 20%), by establishing a <br />standard procedure for determining one approved appraised value in <br />such circumstances. <br />Negotiations <br />The proposed additional section on negotiations (page 37 of the <br />draft revisions) provides more detail than is currently in the <br />Guide on this topic. An important aspect of this section is on <br />revised page 38 (line 8). This section points out that, in <br />accordance with Florida Statutes Chapter 125, any purchase price <br />that exceeds the average of two appraisals (when two appraisals are <br />required) needs an extraordinary vote (4) of the Board for <br />approval. <br />Confidentiality <br />This section addresses the issue relating to LAAC review and <br />recommendations on negotiated purchase price for proposed land <br />acquisitions. Under the proposed revised procedures, staff will <br />approach the Committee for purchase recommendations only after a <br />contract has been negotiated and executed by the seller, but before <br />Board approval consideration. <br />Under this procedure, appraisals may be made public at the time of <br />LAAC review. —This will not jeopardize public interest, because the <br />seller will have already committed to a negotiated sale price. <br />However, the decision to release appraisals for public information <br />at the time of LAAC review will be subject to county cost -share <br />partner concurrence, to ensure that cost -share partner procedures <br />are not violated. Once appraisals are made public, they will -not <br />be used again as appraisals approved for acquisition by the County. <br />RECOMMENDATION <br />Staff recommends that the Board approve the proposed Land <br />Acquisition Guide revisions. <br />OCTOBER 189 1994 21 <br />BOOK U3 FACE .J _, <br />