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side of 43'd Avenue south of SR60, along the abandoned Union 76 Gas Station site. This property is currently under contract for sale by the owner, Oquilla Robertson Trust, to H. Yong Kim (buyer), who proposes to construct a retail produce business on the site. The contracted purchase price of the 100'x 150' parent tract is $185,000 or $12.36/sf. An appraisal of the 10' x 150' proposed additional right of way parcel needed by the County, as prepared by Armfreld-Wagner Appraisal and Research, Inc. dated Oct. 29, 1996, established a value for the additional right of way of $35,000 ($18,540 for land at $12.36/sf and $16,460 for site improvement taken and severance damages). The County staff, working with the City of Vero Beach Planning Department, which is currently reviewing the proposed site plan for the produce building and related improvement, has indicated to the buyer and seller the desire of the County to purchase the 10' x 150' right of way parcel. Louis L. Schutt and Paul Domico, SIS Realty, are representing the buyer on the right of way negotiations. County staff reviewed the Amrfreld and Wagner Appraisal for the additional 10' of right of way (which was prepared for the buyer, H. Yong Kim), and agrees with the $35,000 value. The staff offered to purchase the parcel for that amount subject to Board approval. Initially, in November, 1996, the buyer's agent, Louis Schutt, offered to sell the 10' parcel to the County at a cost of $65,300. The County staff has, in good faith, negotiated the price downward. On Dec. 10, 1996, staff presented our last recommended offer of $38,500 (10% above the appraised value). The buyer's representative, Louis Schutt presented the last counter-offer of $46,800 plus $500 appraisal fee on Dec. 19, 1996. ALTERNATIVES AND ANALYSIS The appraised value for the 10' right or way parcel is $23.34/sf. The final counter offer from the seller is $47,300 or $31.53/sf. Staff is of the opinion that the value of the right of way parcel is $35,000, and the County should offer no more than $38,500, or 10% above the appraised value. The alternatives presented are as follows: Alternative No. 1 Reject the seller's last counter-offer of $47,300 and proceed to acquire the 10' right of way parcel by eminent domain proceedings. It would take approximately three months for appraisals and court filing. Prior to the court filing, the City of Vero Beach could approve the site plan to allow improvements in the parcel, which could lead to additional damages. Alternative No. 2 Delete the northbound right -tum lane from the project. There are currently 220 vehicles in the peak hour demanding a right tum along northbound 43rd Avenue at SR60. Alternative No. 3 Accept the seller's last counter-offer of $47,300. RECOMMENDATIONS AND FUNDING Staff recommends Alternative No. I whereby the County proceed with Eminent domain proceedings to acquire the 10' right of way parcel. Funding to be from I ¢ Local Option Sales Tax Revenue designated for right of way acquisition. Commissioner Adams felt we are paying the owner too much for this property. Director Davis stated that when the appraiser looks at the property, even though it is abandoned, he looks at all the improvements including any paved parking. This is a very small parcel and the appraiser has to take into consideration portions which cannot be utilized because of setbacks, etc. BOOK a FAG€ 37 JANUARY 149 1997 36 -