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*Advertised Public Meeting This public hearing has been advertised +30 days in advance to fulfill a State statute requirement that the County hold a public meeting after having provided at least 30 days advertised public notice to formally consider approving and exercising its purchase option for the AGC Industrial Tract Scrub property. The State requirement that the Board hold a public meeting to consider exercising its option after having provided 30 days advertised notice of the meeting applies because the County chose to keep its appraisals of the subject property confidential until the seller executed a binding option contract. Once that option contract had been signed, the appraisals were released and have been available to the public during the 30 day period prior to the advertised public meeting. Besides meeting State statute requirements, the hearing on the AGC Industrial Tract will serve to meet a Land Acquisition Guide requirement that the County hold a public hearing prior to purchasing any property with land acquisition bond funds. •Site Characteristics The subject AGC Industrial Tract is located at the south terminus of Gibson Street (130th Street) accessed through Roseland; the property is within the City limits of Sebastian. The AGC Industrial Tract's natural areas include xeric oak scrub (+12 acres); sand pine scrub (+13.5 acres); scrubby flatwoods (±23 acres); and freshwater marsh (+25.5 acres). An undeveloped right-of-way for a future extension of Gibson Street splits the property into two portions (see page 8 of the management plan). The City of Sebastian has requested that the option remain open for Gibson Street to be extended, but it is uncertain whether the road will ever be constructed due to environmental constraints. If in the future the City abandons its plans to extend Gibson Street, the County will have the opportunity to request an abandonment of the right-of-way. •Ownership Characteristics Currently, the subject property is owned by Atlantic Gulf Communities. The current tax assessed value of the property is $416,660. *Acquisition Cost -Share & Property Management Two issues which are important to LAAC staff with respect to all proposed purchases are obtaining cost share assistance in property acquisition and addressing management costs. Cost -Share In 1995, Indian River County submitted an FCT application, which was subsequently approved for 40% cost -share funding, including 40% of pre-acquisition expenditures (e.g., environmental audit, appraisals). Management Costs Besides cost share, management cost is always an issue with environmental lands acquisition. The FCT program, which is highly competitive state-wide, awards points for projects based on the provision of resource-based public access and use facilities. In order to qualify for FCT cost -share funding, the County obligated itself in its FCT application to provide limited access and resource-based facilities on the overall project property. Specifically, conditions of the Conceptual Approval Agreement include County provision of nature trails, a picnic area, information kiosk, gazebo, and limited parking. Management of scrub habitat is also a described management plan condition for the project. A number of initial site improvements, including fencing and resource management, can be paid for with bond referendum funds as part of the property acquisition. Improvements such as limited parking will need to be funded by a source other than referendum monies. Potential funding sources include park development grants, county mitigation funds, and tree removal violation funds. Relating to long term management, the property will be incorporated into the county -wide park system and managed by the County Parks Division in coordination with county environmental planning staff. Volunteer groups will be asked to assist the County with certain aspects of property management such as nature trail up -keep and litter patrol. SEPTEMBER 17, 1996 25 ' BOOK 99 PA!w 149