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C <br />•• <br />BOARD OF COUNTY COMMISSIONERS <br />CHARLES P. VITUNAC <br />1840 25th Street, Vero Beach, Florida 32960 <br />County Attorney <br />Telephone: (305) 567.8000 <br />+ • Suncom:424.1425 <br />JAMES P. WILSON <br />Qp. <br />Asst. County Attorney <br />BRUCE BARKETT <br />Asst. County Attorney <br />Re: Proposed Construction and Development of a <br />Skilled and Intermediate Care Nursing Home <br />Facility for Florida Convalescent Centers, <br />Inc., in Indian River County, Florida <br />----------------------------------------------- <br />June 25, 1986 <br />David Evans <br />Vice President <br />Florida Convalescent Centers, Inc. <br />I-loneywe I I Center <br />Suite 1111 <br />1111 Mockingbird Lane <br />Dallas, Texas 75247 <br />Dear Mr. Evans: <br />It is the understanding of Indian River County, Florida <br />the "Issuer"), that Florida Convalescent Centers, Inc., (the <br />"Company") is currently considering_ the establishing of a skilled <br />and intermediate care nursing home facility within the <br />territorial limits of the Issuer, that the current estimated <br />capital cost of such facility including land for the proposed <br />site is approximately $4,800,000, that such facility will provide <br />additional employment in the community of the Issuer for <br />approximately 100 people, and that the willingness of the Issuer <br />to issue and sell industrial development revenue bonds for the <br />purpose of financing the acquisition, construction and equipping <br />of such facility is an important fact under consideration by the <br />Company in determining the feasibility of such proposed projecL. <br />The Issuer has determined that the issuance of its <br />bonds to assist the Company in locating such facility in the <br />Issuer's community will result in a substantial increase of <br />employment in such community and that the issuance of such bonds <br />will serve a public purpose by increasing the purchasing power <br />and improving the living conditions of the citizens and <br />inhabitants of the Issuer and will contribute to the prosperity <br />and welfare of the State and its inhabitants. <br />Accordingly, in order to induce the Company to locate <br />and establish its facility in the Issuer's community and incur <br />expenses for the initiating of such project and its financing, <br />the Issuer hereby makes the following proposal: <br />