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e Contract In accepting the county's last purchase contract drafted by the county. A attached to this staff report. offer, TPL has executed a copy of that contract is As indicated, the contract establishes a purchase price of $672,000, and a condition that closing is subject to execution of a county/state multi-party agreement. The contract also provides that TPL will have liability until the year 2000 for hazardous waste discovered on the property (deposited during the ownership of the property by TPL or Rorangy). Finally, the contract provides that the county will purchase its own title insurance policy and reimburse TPL for its survey costs. •ANALYSIS The Rorangy property has long been a priority acquisition for the county, the state and the US Fish and Wildlife Service. Because of its location and resource value, there are many benefits associated with the acquisition. Not only will this acquisition result in an expansion of the Archie Carr National Sea Turtle Refuge, it will also serve as a buffer for Pelican Island National Wildlife Refuge. With the wetlands being in public ownership, the Mosquito Control District will be assured of having the ability to manage the site's impoundments. Finally, the acquisition will, ensure protection of the property's archeological resources. Despite the importance of buying the subject property, the county has pursued acquisition in a conservative, cost conscious manner. Not only has the county secured cost share participation of almost 70% of the property's purchase price, but the county has obtained management commitments which ensure that there will be no recurring costs. Most important is the negotiated purchase price. The $672,000 amount is just about 20% of the owner's original asking price. Even more significant is that the purchase price is more than 30% less than TPL's initial appraised value and 35% less than TPL's revised appraisal of the property. To complete the Rorangy property acquisition, the Board of County Commissioners must approve the seller executed purchase contract. In accordance with land acquisition guide requirements, staff has scheduled this matter as a public hearing item. Besides the information presented in this staff report, the county's appraisals of the subject property are available for inspection. Those appraisals are on file at the county planning division's offices. In addition, staff will be available to answer questions on this matter at the Board meeting. RECOMMENDATION: Staff recommends that the Board of County Commissioners accept the proposed Rorangy property purchase contract. 31 BOOK 94 PA`vc APRIL 18, 1995