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800K 96 lo ALTERNATIVES & ANALYSIS: Addendum IV to Conceptual Approval Agreement As requested by the County, the FCT Governing Body has approved an increase of the original estimate of state cost -share to reflect 50% of actual acquisition costs. This match includes 50% cost -share of: • Total land purchase price • Survey • Appraisals • Title report • Title insurance • Acquisition consultant fee Although the FCT has approved the match funding increase, FCT requires that the County formally execute an addendum (Addendum IV) to the original project Conceptual Approval Agreement revising total project costs, and submit it to the FCT for full execution prior to closing. Purchaser's Reconciliation of Total Project Costs The "Purchaser's Reconciliation of Total Project Costs" document is a statement of total project costs, and that document is required to be approved by the County and the FCT prior to closing. Grant Award Agreement The "Grant Award Agreement" is a document required by FCT to be recorded in public records at the time of closing: The purpose of the Agreement is to set forth in the public record the terms, conditions, and restrictions on the use of the Wabasso Scrub property as agreed to in the project Conceptual Approval Agreement and on implementation of the management plan. Other Closing Documents In addition to the referenced documents subject to formal approval by the Board, following is a list of other documents required for closing that are undergoing administrative review by county staff for legal sufficiency: • Survey • Warranty Deed to Indian River County • Closing Statements • Title Insurance documents • Environmental Site Phase I Audit & Environmental Affidavit The environmental audit has been completed and submitted to staff, and has been found by staff to be satisfactory. Attached is the audit's executive summary, which concludes that no hazardous materials were found on the property, and that the "probability that the subject property's environmental integrity has been compromised is minimal". Since the time of the audit, staff has verified that, in accordance with the Option Agreement, the seller has fulfilled its obligation of removing all junk, trash, and debris from the property. Kiwanis-Hobart LWCF Conversion Denial As presented in staff's memorandum to the Board on June 27, 1995 (attached), staff has investigated whether the Wabasso Scrub would be accepted by FCT as a Land and Water Conservation Fund (LWCF) 10 SEPTEMBER 12, 1995