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TO: James E. Chandler County Administrator DER TMENT MEAD CONCURRENCE: Rober M. Keating AICP Community Development WZector FROM: Roland M. DeBlois,ICP Chief, Environmental Planning DATE: November 25, 1996 SUBJECT: APPROVAL TO PROCEED WITH CLOSING ON THE FISCHER-SEBASTIAN RIVER LAAC SITE AND SEEK AFTER -THE -FACT REIMBURSEMENT FROM THE STATE It is requested that the information herein presented be given formal consideration by the Board of County Commissioners at its meeting of December 3, 1996. DESCRIPTION AND CONDITIONS On January 31, 1996, the County Land Acquisition Advisory Committee (LAAC) recommended that the Board of County Commissioners approve purchase of the +89 acre Fisher property bordering the St. Sebastian River. Subsequently, at a public hearing on March 19, 1996, the Board approved the purchase as a 50% cost -share project under the State Conservation and Recreation Lands (CARL) program. Since March, staff has been working with the seller and State staff to resolve issues relating to closing on the property. One issue in particular pertains to the area of jurisdictional wetlands on the subject property, and how that affects the appraised value and the negotiated purchase price of $1.49 million. Due to the expense of a detailed survey for this type of riverfront property, the State and the County had proceeded to negotiate a purchase price based on an "appraisal map," which falls short of a full boundary survey. Subsequent to the County's approval of the purchase, the County and the State obtained a more comprehensive survey. That survey indicated that there was more wetland acreage than previously determined. The matter at hand is that the County's option on the property expires January 1, 1997, and the wetland issue will not be resolved by that time if the County continues to work with the State for a joint closing. The seller, Dr. Henry Fischer, has indicated that he will not extend the option. Therefore, the County must consider proceeding on its own to closing on the property prior to January lst, and seek after -the -fact -reimbursement from the State CARL program, or not buy the property. Option Contract Purchase Price "Buffer" When the option contract was drafted and subsequently executed by the seller, County and state staff were aware that there might be a wetland acreage adjustment that could affect the appraised value of the property. For this reason, a "buffer" of $89,400 was written into the contract, so that the seller was aware that the purchase price would be reduced, up to that much, if warranted by a final survey of wetlands and overall acreage. 58 DECEMBER 3, 1996 BOOK 99 F'�4p34