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Boor, 97 PnUE2.31. <br />'Appraisals <br />In accordance with County Land Acquisition Guide and FCT <br />.procedures, two independent appraisals were obtained (by the FCT). <br />to determine an approved appraised value. The two appraisal firms <br />selected were J.T. Namie & Associates, and Aucamp, Dellenback, & <br />Whitney. The appraisals were subsequently certified by a review <br />appraiser (Boyle Appraisal Service), as required by the FCT. <br />The appraised values are summarized as follows. <br />PRANG ISLAND APPRAISALS <br />APPRAISER VALDE • DIVSRGMNCB APPROVED APPR. VALDE <br />J.T. Namie & Assoc. $722,000 - <br />Aucamp, Dellenback $675,000 6.5 $ - <br />& Whitney <br />$722,000 <br />The negotiated purchase price of $696,000 is- 96% of the approved <br />appraised value. <br />eContract <br />In coming to terms with FCT and county staff on the negotiated <br />purchase price (subject to County Commission and FCT approval), the <br />seller has executed a standard FCT purchase contract Option <br />Agreement with minor modifications. A copy of that contract is <br />attached to this staff report. <br />ANALYSIS <br />*Multiple Benefits <br />e Environmental Education - <br />As with most of the County's proposed acquisitions, the Prang <br />Island purchase will enhance education in the County. With Prang <br />Island, the educational function will consist of informational <br />displays for boaters accessing the site. Also, the campsite <br />existing on site is proposed to be maintained and made available <br />for outings by groups such as the Environmental Learning Center and <br />the Boy Scouts, on an appointment basis. <br />e Comprehensive Plan Acquisition Commitment <br />Conservation Policy 6.3 of the County Comprehensive Plan commits <br />the County to acquire a minimum of 100 acres of coastal/tropical <br />hammock vegetative community for conservation purposes. The Prang <br />Island project contributes to fulfilling this policy by conserving <br />+5 acres of tropical hammock. The project also furthers objectives <br />in the County (and City) comprehensive plans relating to floodplain <br />protection, open space, rare species conservation, and protection <br />of archaeological/historic resources. <br />eProject Plan <br />To satisfy the FCT Conceptual Approval Agreement for cost -share <br />funding, the County is required to submit a "project plan". In <br />addition to an executed purchase agreement and approved management <br />plan, a "project plan" includes: <br />M <br />FEBRUARY 6, 1996 <br />M M M <br />