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M <br />If you or members of your staff would like to haue an informal <br />meeting, with me and/or members of our staff, please let me <br />know. <br />Sincerely, <br />Dorothy R. Talbert <br />Chairman <br />William L Marine, Jr Stanley F. Mayfield <br />Dorothy Talbert District 2 Gary Lindsey District 4 Wesley Davis <br />District 1 District 3 District b <br />it Takes a Community to Raise a Child!" <br />1990 25th Street • Vero Beach Florida 32960 - Telephone• 407-564-3000 • Suna m Number 257-1011 • Fax• 407-569-0424 <br />Equal Oppmtunity Educator and Employrr <br />RESPONSE TO THE INDIAN RIVER COUNTY COADMSION <br />REGARDING THE OLD COURTHOUSEIANNEX PROPERTIES <br />RESPONSE OPTION 1 <br />The offer on behalf of the County Commission is ' very gracious; however, without capital <br />resources to improve the Old Courthouse / Annex and State Attorney's Office, the <br />buildings in their current condition are unusable for our purposes. <br />In the interest of making a gesture toward a suitable compromise, for both governmental <br />agencies, I would suggest the School Board consider the following option: <br />Accept the offer -from the County Commission if the following are also a possibility <br />1. The County Commission forgive the $45,000 per year lease payment <br />(beginning with this 1996 year), for the remainder of the life of the lease. <br />2. The County Commission restore our $20,000 per year from race track <br />funds (which is what they were prior to the lease agreement and addressed <br />in article 17 of the lease agreement). <br />3. The County Commission buy out the remaining 14 years of the current lease <br />for $3,500,000 (which is the value of leasing this space anywhere else or <br />replicating the 24,900 sq. ft. in new construction), within the next two <br />years, toward the restoration of the Old Courthouse / Annex and State <br />Attorney's Office in order for it to be renovated to our needs. <br />4. Assume that the $810,000 listed on the current capital outlay plan for 1998 - <br />99 (which was to replace ESE space lost at the VBHS-FLC) can be <br />budgeted toward this renovation project. <br />#1 Bonded and amortized over 20 years yields: $ 701,000.00 <br />#2 Bonded and amortized over 20 years yields: $ 312,000.00 <br />#3 Yields: $ 3,500,000.00 <br />#4 Yields: $ 810,000.00 <br />$ 5,323,000.00 <br />43 <br />June 25, 1996 b®®K 98 PAGE 442 <br />