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DESCRIPTION AND CONDITIONS On November 19, 1996, the Board of County Commissioners approved County purchase of 34 clustered Atlantic Gulf Communities (AGC) scrub lots in Sebastian Highlands (at the appraised value of $86,000), and authorized the Board Chairman to coordinate with county staff and execute documents necessary for closing and Florida Communities Trust (FCT) cost -share funding. Attached are documents required by the FCT for closing, entitled "FCT Grant Award Agreement" and "Reconciliation of Total Project Costs." Since these documents require the Board Chairman's signature, they are herein presented for the Board's consideration. ANALYSIS The FCT Grant Award Agreement is a document that the FCT requires be executed and recorded in the public records at the time of closing. The Grant Award Agreement reflects the obligations the County made in accepting the State grant, and largely relates to property management commitments. Since the County will obtain full title to the property, this document is a way to ensure that FCT's grant award conditions will be fulfilled. The conditions within the Grant Award Agreement are consistent with the property management plan approved by the Board of County Commissioners. The Purchaser's Reconciliation of Total Project Costs Statement is a closing document that breaks down specific costs to be paid by the County and the FCT at closing as cost -share partners in the acquisition. Even though the County is buying and will principally manage the 34 AGC scrub lots, FCT requires that the City of Sebastian execute these closing documents as well because the property is located within Sebastian city limits. County staff is coordinating with City staff to expedite the City's execution of the documents, which will be forthcoming. RECONMENDATION: Staff recommends that the Board authorize the Board Chairman to execute the attached closing documents relating to County Purchase of the 34 AGC Sebastian Highlands scrub lots. MOTION WAS MADE by Commissioner Adams, SECONDED BY Commissioner Ginn, to approve staff's recommendation as set forth in the memorandum. Under discussion, Commissioner Ginn asked if there are any plans for the management of this property, and Community Development Director Bob Keating responded that there is a management plan which was required under Florida Communities Trust required project plan and staff hopes to have the City of Sebastian participate in the management plan. Jim Granse, 36 Pine Arbor Land, stated that it seemed to him there is a cloud floating over this issue. He also thought it was interesting that the original plan of purchasing 50 lots ended up as 34 lots. THE CHAIRMAN CALLED THE QUESTION and the motion carried unanimously. 58 £? January 21, 1997