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Sebastian Highlands Scrub Lots Page 4 i� County staff have opted to have a management pian for the project (see attached) drafted by the county's aequisition/management consultants, an option which is specified in the County's contract E with FloridAffinity, Inc. Page 25 of the draft plan summarizes estimated management and development costa of the overall Sebastian Highlands Scrub project. Please notice that the draft plan for the total acquisition project was previously reviewed by the Board when the Board reviewed the AGC lots purchase. This plan is in the process of being modified to account for the elimination of the northern group of lots, and may bis subject to further change depending on the County's success in negotiating purchases of additional lots within the project. aAppraisal In accordance with County Land Acquisition Guide and FCT procedures, an independent appraisal was obtained to determine an approved appraised value of the lots. Because the value of the individual lots did not exceed $500,600, only one appraisal was required to sati6fy state and county procedural requirements. The appraisal firm selected was Armfleld & Wagner. The appraisal was subsequently certified by a review appraiser (Boyle Appraisal Service), as required by the FCT. The appraised value for the combined 41 lots in summarized as follows. SEBASTIAN HIGHLANDS SCRUB - 47 LOTS AFPRAI5HR YAS.A$ ! eIYBRasncS APPRGVAD A.M. VALUX Ar.nfield 6 Wagner $396,900 R/A $796,900 The negotiated purchase price of 4396,900 is 100E of the approved appraised value. Given the nature of the project and the fact that these appraised values reflect environmental permitting constraints, whereby in some cases the appraised value is less than tax assessed value, staff felt it was appropriate to make offers at the full appraised value, (The appraised values of the individual lots are summarized in an attachment to this memorandum,) •Contract In coming to terms with PCT and county staff on the negotiated purchase price (subject to County Commission and FCT approval), each seller has executed a standard FCT purchase contract with minor modifications. For ease of reference, rather than attaching each individual contract, attached is a copy of the contract that has been executed by each of the 41 sellers. aprn sot Plan To satisfy the FCT Conceptual Approval Agreement for cost -share funding, the County Is required to submit a "Project plan". In addition to an executed purchase agreement and approved management pian, a "project plan" includes, ,Statement of total cost