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O <br />O <br />RESOLUTION NUMBER 86-13 <br />WHEREAS, the Board of County Commissioners of Indian River <br />County has determined that the construction of a southerly <br />extension to Indian River Boulevard including improvements to <br />connecting roadways such as Twelfth Street and Sixth Avenue is <br />es' <br />necessary tc relieve traffic congestion along the U.S. 1 <br />corridor; and <br />WHEREAS, the Indian River County Public Works Division, in <br />conjunction with private consultants, has prepared plans for the <br />construction and the paving and drainage improvements necessary <br />to complete the southerly extension of Indian River Boulevard and <br />easterly extension of Twelfth Street; and <br />WHEREAS, Peggy Jane Schacht, individually and as Trustee and <br />R. A. Schacht and Peggy Schacht, his wife, are the owners of <br />approximately 18 acres of property (said land being legally <br />described in Exhibit "A" attached hereto) through which a portion <br />of the proposed southerly extension of Indian River Boulevard; <br />and <br />WHEREAS, the property owned by Peggy Jane Schacht, <br />individually and as Trustee and R. A. Schacht and Peggy Schacht, <br />his wife, pursuant to the Comprehensive Land Use Plan of Indian <br />River County has a land use designation of MD -2, medium density <br />residential (up to ten units/acre); and <br />WHEREAS, Peggy Jane Schacht, individually and as Trustee and <br />R. A. Schacht and Peggy Schacht, his wife, have indicated their <br />intention to apply for zoning consistent with the Comprehensive <br />Land Use Plan as to some 18 acres of the aforesaid property; and <br />WHEREAS, the Board of County Commissioners of Indian River <br />County recognizes that the County would have to purchase from - <br />Peggy Jane Schacht, individually and as -Trustee and R. A. Schacht <br />and Peggy Schacht, his wife, the property needed for the right- <br />of-way or institute proceedings to acquire the property needed by <br />the County for the Indian River Boulevard, which would require <br />payment by the County of the fair market value of the property; <br />and <br />1 <br />