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FF,__ I <br />box 99 PAGE.17 <br />The Board reviewed a Memorandum of October 2, 1996: <br />TO: James E. Chandler <br />County Administrator <br />DEP TMENT HEAD CONCURRENCE: <br />f <br />Obert M. Keatin , AICA <br />Community Development,Director <br />FROM: Roland M. DeB1oisICP <br />Chief, Environmental Planning <br />DATE: October 2, 1996 <br />SUBJECT: PROPOSED PURCHASE OF ST. SEBASTIAN PUD LAAC SITE <br />It is requested that the information herein presented be given <br />formal consideration by the Board of County Commissioners at its <br />regular meeting of October 8, 1996. <br />SaramRY <br />Staff recommends that the Board of County Commissioners purchase <br />(with bond funds) the St. Sebastian Planned Unit Development (PUD) <br />property. The proposed purchase contract (already executed by the <br />seller) is summarized as follows: <br />Purchaser: Indian River County Board of County Commissioners <br />(with application for an after -the -fact 508 cost -share <br />grant from the Florida Communities Trust; County will <br />hold title) <br />Seller:. First Union National Bank <br />Cost -Share: Florida Communities Trust (508) <br />(includes share of acquisition costs; after -the -fact <br />grant award funding will be decided by the State in <br />December) <br />Total Puce•: $1,100,000 (average +:3,526 per acre, including <br />wetlands) <br />Other Costs: +$22,000 (appraisals, environ. audit, title <br />insurance, management plan) <br />Count Bonds <br />Bzpend tore: +;570,000 (not including initial management costs, <br />and assuming 508 reimbursement from FCT) <br />Acrea�: +312 acres <br />Principal Condition(s): <br />• Closing subject to County Commission approval of purchase contract, <br />including management plan. The City of Sebastian supports the <br />acquisition, provided accommodations are made for an airport runway <br />"clear zone" and potential future construction of a north -south <br />through road (e.g., Gibson Street) in the vicinity of the property. <br />LAAC Recommendation: <br />• The County Land Acquisition Advisory Committee (LAAC), at its meeting <br />on October 1, 1996, voted unanimously to recommend that the Board <br />approve the purchase contract, subject to adoption of a management <br />plan for the property in conjunction with the adjacent "AGC <br />Industrial Tract Scrub" property that the County has agreed to <br />purchase. <br />DESCRIPTION AND CONDITIONS <br />The subject St. Sebastian PUD property is currently ranked 3rd out <br />of 15 projects on the LAAC site acquisition list. The City of <br />Sebastian has expressed support of the acquisition because the <br />project will potentially contribute toward alleviating conflicts <br />within the City concerning endangered species protection vs. <br />private development rights. <br />OCTOBER 8, 1996 50 <br />