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M M M <br />PROPOSED PURCHASE OF PRANG ISLAND - LAAC SITE <br />The Board reviewed the following memo dated 1/30/96: <br />TO: James E. Chandler <br />County Administrator <br />DEP NT HEAD CONCURRENCE: <br />c <br />e <br />ere M. Reat , ICP <br />Community Develop—bn1tt Di for <br />FROM: Roland M. DeBlois,nAICP <br />Chief, Environmental Planning <br />DATE: January 30, 1996 <br />SUBJECT: PROPOSED PURCHASE OF PRANG ISLAND LAAC SITE <br />It is requested that the information herein presented be given <br />formal consideration by the Board of County Commissioners at its <br />regular meeting of February 6, 1996. <br />Staff recommends that the Board of County Commissioners approve the <br />attached Option Agreement for purchase of the Prang Island (a.k.a. <br />Prange Islands) project with land acquisition bond funds. The <br />proposed purchase contract (already executed by the seller) is <br />summarized as follows: <br />Purchasers Indian River County Board of County <br />Commissioners / Florida Communities Trust <br />(Indian River County will hold title) <br />Seller: The Idlewyld Corporation, Inc. <br />Cost -Share: Florida Communities Trust (40%) <br />(includes share of acquisition costs) <br />Total Price: $696,000 (+;26,274 per acre overall) <br />Other Costs: +$44,000 (appraisals, survey, environ. <br />audit, title insurance, management plan) <br />22!!Rtz Bonds <br />Expend tnrea +$443,736 (not including initial management costs) <br />Scr : +26.49 Acres (22.41 uplands; 4.08 wetlands) <br />Principal Condition: <br />• Closing subject to County Commission and FCT Governing Body approval <br />of purchase contract and project plan, including management plan. <br />The Land Acquisition Advisory Committee (LAAC) considered this <br />proposed acquisition at its regular meeting on Janaury 31, 1996. <br />Since this staff report was prepared prior to the LAAC meeting, the <br />Committee's action could not be reported in this staff report. <br />Staff, however, will report LAAC's recommendation to the Buaru ni, <br />the February 6, 1996 Board meeting. <br />W <br />57 <br />FEBRUARY 6, 1996 Booz 97 P,�u-228 <br />