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SDMMMY Staff recommends that the Board of County Commissioners approve the purchase of the Fischer -Sebastian River property using land acquisition bond funds. The purchase option contract (already executed by the seller) is summarized as follows: Purchaser: Indian River County Board of County Commissioners / conservation & Recreation Lands (CARL) Program (State will hold title) Seller: Dr. Henry A. Fischer Cost -Share: Conservation & Recreation Lands Program (50%) (includes share of acquisition costs) Total Price: $1,490,000 (+$16,719 per acre overall)_ Other Costs: +$40,500 (County share of costs relating to appraisals, appraisal map, survey, environ. audit, title insurance) County Bonds Expenditure: +$785,500 Acreage: +89.12 Acres (76.49 ac. uplands; 12.63 ac. wetlands) Principal Condition: • Closing subject to County Commission and Governor & Cabinet approval; State will hold title and will be responsible for management in conjunction with the overall Sebastian Creek CARL project. LAAO Recommendation: • At its January 31, 1996 meeting, the Land Acquisition Advisory Committee (LAAO) voted unanimously to recommend that the Board of County Commissioners approve the proposed purchase (see attached LAAC minutes). DESCRIPTION AND CONDITIONS The subject Fischer property is currently ranked 3rd out of 20 projects on the LAAC site acquisition list, and is contiguous to the Coraci property of the Sebastian Creek CARL project. The Coraci property is to the north of the subject property on the west side of the St. Sebastian River. The State now owns the Coraci property, having closed on it in late February. In May, 1995, the County executed a Multi -Party Acquisition Agreement with the Division of State Lands (DSL) for 50% cost -share under the CARL program. During the past year, the county's acquisition consultant, in coordination with county staff, has overseen pre-acquisition tasks and conducted negotiations. Procedures adopted by the Board of County Commissioners -for environmental land acquisition include confidentiality of appraisals. in accordance with the County's Land Acquisition Guide, and Section 125.355 of the Florida Statutes, appraisals can be released for public information once an option agreement is executed between a seller and the County. Regarding the Fischer property, an option agreement was executed (binding the seller to a negotiated purchase price), and subsequently the appraisals were released from confidentiality. When a county exercises its confidentiality right in purchasing real property, Section 125.355, F.S. requires that the county approve the purchase at a public meeting not less than 30 days 29 March 19, 1996 BOOK 97 PAC 5Gzi