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County staff have opted to have a management plan for the project (see attached) drafted by the county's acquisition/management consultants, an option which is specified in the County's contract with FloridAffinity, Inc. Page 25 of the draft plan summarizes estimated management and development costs of the overall Sebastian Highlands Scrub project. Please note 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 be subject to further change depending on the County's success in negotiating purchases of additional lots within the project. *Appraisal 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 $500,000, only one appraisal was required to satisfy state and county procedural requirements. The appraisal firm selected was Armfield & Wagner. The appraisal was subsequently certified by a review appraiser (Boyle Appraisal Service), as required by the FCT. The appraised value for the combined 47 lots is summarized as follows. SEBASTIAN HIGHLANDS SCRUB - 47 LOTS APPRAISER VALUE % DIVERGENCE APPROVED APPR. VALDE Armfield & Wagner $396,900 N/A $396,900 The negotiated purchase price of $396,900 is 100% 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 FCT 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. •Proiect 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 plan, a "project plan" includes: - Statement of total cost Statement of award amount requested from FCT - Statement that the project plan is consistent with local comprehensive plan - Evidence that conditions imposed as part of the Conceptual Approval Agreement are satisfied - Affidavit that there is no existing or pending violation of any local, state, regional or federal laws or regulations on the project site As confirmed by the Sebastian City Planner, the Sebastian Highlands Scrub lots purchase as proposed is consistent with the City's Comprehensive Plan. Documents of the project plan listed above - aside from Board approval of the purchase agreement and management plan - can be handled administratively, and have been provided to FCT by county staff contingent upon Board approval. of the acquisition. SEPTEMBER 17, 1996 31 Bo9,K f'qG