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PRANG ISLAND APPRAISALS <br />APPRAISER VALUE % DIVERGENCE APPROVED APPR. VALUE <br />J.T. Namie & Assoc. $722,000 - - - <br />Aucamp, pellenback $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 />*Contract <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 />• 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 />• 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 />RECOMMENDATION <br />Staff recommends that the Board of County Commissioners approve the <br />Prang Islands) purchase contract by agreeing to exercise its <br />purchase option. Staff also recommends that the Board authorize <br />staff to proceed with property closing tasks in coordination with <br />the FCT, and authorize the Board Chairman to execute any documents <br />associated with the closing. <br />25 <br />March 19, 1996 Bm 97 PAGE 5 5 <br />