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Cost -Share <br />In 1993, Indian River County submitted an application to the FCT, <br />which was subsequently approved for 40% cost -share funding, <br />including 40% of pre-acquisition expenditures (e.g., survey, <br />environmental audit, appraisals). At that time, the County <br />retained a "Range of Value Letter" appraisal of the Prang <br />Island(s), solely --for the purpose of providing an estimate of <br />project cost for the FCT cost -share application. This Letter <br />appraisal indicated a $700,000 to $1,3001000 range of value. To <br />ensure that FCT allocated a sufficient amount of funds, the County <br />used the higher estimate ($1,300,000) in its FCT application. <br />For this reason, the FCT has reserved up to $540,000 for its <br />purchase cost -share match. Because the approved appraised value and <br />negotiated price are less than the estimate submitted in the FCT <br />application, a request for additional FCT funds to satisfy the 40% <br />match of the actual purchase cost is not necessary. <br />Management Costs <br />Besides cost share, management cost is always an issue with <br />environmental lands acquisition. The FCT program, which is highly <br />competitive state-wide, awards points for projects based on the <br />provision of resource-based public access and use facilities. In <br />order to qualify for FCT cost -share funding, the County obligated <br />itself in its FCT application to provide limited access and <br />resource-based facilities on the subject property. <br />Specifically, conditions of the Conceptual Approval Agreement <br />include County provision of a limited boat dock ( one or two slips) , <br />nature trial, picnic area, and informational display. The County is <br />also obligated in the FCT Agreement to remove invasive exotic <br />vegetation, as applicable, and implement a resource management plan <br />in coordination with forestry and wildlife agencies. <br />A number of initial site improvements, including exotic plant <br />removal, and resource management (e.g., native plant revegetation), <br />can be paid for with bond referendum funds as part of the property <br />acquisition. Improvements such as a limited boat dock will need to <br />be funded by a source other than referendum monies. Potential <br />funding sources include park development grants, county mitigation <br />funds, and tree removal violation funds. Also, staff has become <br />aware of Army Corps of Engineers and U.S. Fish and Wildlife Service <br />funding opportunities relating to exotic plant removal and native <br />plant restoration, which funding will be pursued. <br />Relating to long term management, the property will be incorporated <br />into the county -wide park system and managed by the County Parks <br />Division in coordination with county environmental planning staff. <br />Volunteer groups will be asked to assist the County with certain <br />aspects of property management such as nature trail up -keep, <br />Brazilian pepper control, and litter patrol. <br />County staff has initiated discussions with City of Vero Beach <br />staff regarding City assistance in management and related costs. As <br />reflected in the draft management plan, county staff plan to bring <br />this matter to the City Council to determine the extent of City <br />contribution. <br />County staff has opted t <br />(see attached) drafted <br />consultants, an option wh <br />with FloridAffinity, Inc. <br />estimated management and <br />o have a management plan for the project <br />by the county's acquisition/management <br />ich is specified in the County's contract <br />Page 21 of the draft plan summarizes <br />development costs. <br />59 <br />FEBRUARY 6, 1996 aooK 97 e,�cr P� <br />