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As noted in the Indian River County Comprehensive Plan, Sanitary Sewer Sub -Element, the following policy is applicable: Policy 5.2 Proposed capital improvement projects shall be evaluated and ranked according to the following three priority level guidelines: • Level One - whether the project is needed to protect public health and safety, to fulfill the county's legal commitment to provide facilities and services, or to preserve or achieve full use of existing facilities. • Level Two - whether the project increases efficiency of use of existing facilities, prevents or reduces future improvement costs; provides service to developed areas lacking full service or promotes in fill development. • Level Three - whether the project represents a logical extension of facilities and services within the urban service area. With respect to any potential multi -use project, the County's Park and Conservation Resources, along with the Recreation Division, could have an opportunity to work with Public Works and IRCDUS for Public Park space, Nutrient reduction and wet weather water storage. Access to the site could be from 411 Street and would be advantageous since that road serves current and future development on both sides of 1-95. Trails, common trailhead parking and restroom facilities, picnic and multi-purpose fields could be potential uses for a site that could encompass 10 acres +/- similar in size to the existing Charles Park located in South Vero. A recent appraisal by Armfield Wagner #44836 for a 306.40 -acre agricultural parcel located along the south side of 4th Street east of 82nd Avenue was conducted in February of 2018. The 306 -acre property is outside of the Urban Service Area (USA). At that time, the opinion of market value for the fee simple property using the Sales Comparison Approach valued the property at $4,300,000 ($14,000/acre). This was the initial basis of discussion with the Premier property representatives in 2018. Upon further deliberations, staff and the Premier representative reached a consensus for a mutually agreed upon price for the 286 +/- acre conglomerate of three parcels (2 of which are inside the USA and 1 is outside the USA). The Purchase and Sale agreement is presented to the BCC for consideration and approval, subject to a 90 - day due diligence investigation. Such research will be performed by a professional engineering firm providing services to IRCDUS as part of the 2018 Continuing Contract Agreement for Professional Services. It is staff's intent to bring back a summary of finding in June 2019, prior to the expiration of the 90 -day due diligence time period. Should the BCC, at that time, choose not to proceed, they would vote to sign the Exhibit B portion of the agreement terminating the sale process. Should the BCC continue to move forward with the purchase, the 90 -day time period would expire, and the closing would happen within 30 days thereafter. FUNDING: There are three funding sources anticipated for the purchase of the subject properties. 1. Optional Sales Tax— 20% of optional sales tax monies are set aside for projects affiliated with the Indian River Lagoon initiative - $1.8 million is budgeted the County's CIE in Fiscal Year 20/21 for a TMDL/Utility/Effluent Storage project. Page 4 of 5 C:\G ra n icus\Legista r5\L5\Temp\614baa 68-ed37-49d2-b48c-97d5d6a5626c.docx