Laserfiche WebLink
Board of County Commissioners <br />January 25, 2021 <br />Page 2 <br />The language is the result of negotiations with the School District staff and County staff and that County <br />staff can support the additional language. The additional language would allow the restrictions on the use <br />of the property to be eliminated in the event the School District defaults on its bonds. It is a risk, however, <br />it is unlikely the School District would default on its bonds. <br />As part of the resolution of the matter, the County would dismiss its lawsuit contemporaneously with the <br />recording of the restrictive covenants. It is County staff's understanding that the School District and the <br />Jimmy Graves Foundation and Jimmy Graves Sports Complex have agreed to future improvements to the <br />property and also naming rights for the property. <br />County staff believes that this is a good outcome for all parties involved. The County received <br />compensation for the property to be used for recreational activities, youth related activities, or otherwise <br />charitable activities. The School District received the property adjacent to the Vero Beach High School, at <br />no cost, to the tax payers and the Jimmy Graves Foundation and Jimmy Graves Sports Complex will see <br />that the property is improved for recreational purposes with the naming of the property after Jimmy <br />Graves. County staff believes that the litigation was the force that brought the parties to this resolution. <br />FUNDING. <br />There is no funding associated with this matter. <br />RECOMMENDATION. <br />The County Attorney's Office recommends that the Board approve the language as presented for the <br />restrictive covenants and authorize the dismissal of the lawsuit with the contemporaneous recording of the <br />restrictive covenants and authorize the Chair and County Attorney to execute any documents necessary to <br />effectuate this transaction. <br />247 <br />