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r----7 <br />J <br />G. AGC Industrial Tract Scrub LAAC Site - Authorize Chairman to Shin <br />Documents <br />The Board reviewed a Memorandum of November 13, 1996: <br />TO: James E. Chandler <br />County Administrator <br />DE R ME7 BEAD CONCURRENCE: <br />R6berf M. Keating, AWP <br />Community Development Director <br />FROM: Roland M. DeBlois AICP <br />Chief, Environmental Planning <br />DATE: November 13, 1996 <br />SUBJECT: REQUEST THAT BOARD AUTHORIZE BOARD CHAIRMAN TO EXECUTE <br />DOCUMENTS RELATING TO CLOSING OF AGC INDUSTRIAL TRACT <br />SCRUB 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 November 19, 1996. <br />DESCRIPTION AND CONDITIONS <br />At a public hearing on September 17, 1996, the Board of'County <br />Commissioners approved purchase of the Atlantic Gulf Communities <br />(AGC) Industrial Tract Scrub property. The +76 acre property, <br />located in the north limits of the City of Sebastian, is on the <br />County Land Acquisition Advisory Committee's (LAAC's) acquisition <br />list. The approved purchase price is $400,000 (89% of appraised <br />value); the property is being purchased with environmental land <br />acquisition bond funds and a 40% cost -share grant from the Florida <br />Communities Trust (FCT). <br />At the September 17, 1996 meeting, the Board approved the AGC <br />Industrial Tract purchase contract and management plan. In <br />addition, the Board approved exercise of the option, and authorized <br />staff to proceed with closing on the subject property. <br />Although staff has been authorized to close on the property in <br />coordination with the FCT, a number of closing documents require <br />the Board Chairman's signature. Since the Board did not <br />specifically authorize the Board chairman to execute closing <br />documents, this matter is presented for that authorization. <br />ANALYSIS <br />Three documents that require the Board Chairman's signature for the <br />County to close on the subject property are: <br />• Addendum I to the FCT Conceptual Approval Agreement <br />• FCT Grant Award Agreement <br />• Purchaser's Reconciliation of Total Costs <br />Addendum I to the Conceptual Approval Agreement extends the <br />expiration date of the Agreement to allow time for closing, which <br />is expected to occur in December. The original Conceptual Approval <br />Agreement between the County and the FCT expired on November 8, <br />1996. However, prior to that date, staff requested and -the FCT <br />Governing Body approved an extension of the Agreement. Although the <br />FCT has approved the extension, execution of the Addendum by the <br />County and the State is necessary to formally extend the Conceptual <br />Approval Agreement. <br />NOVEMBER 19, 1996 <br />23 <br />BOOK 99 PAGE 880 <br />