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PUBLIC DISCUSSION ITEM - REQUEST BY LOST TREE VILLAGE <br />CORP. THAT THE COUNTY REQUEST THE FLORIDA CO S <br />TRUST TO RE -APPRAISE THE LOST TREE ISLANDS BASED ON <br />LAND USE CHANGE PROPOSALS <br />The Board reviewed a Memorandum of January 29, 1997: <br />TO: James E. Chandler <br />County Administrator <br />DEPARTMENT HEAD CONCURRENCE: <br />Robert M. Keating, A CP <br />Community Development Director <br />FROM: Roland M. DeBlois: ICP <br />Chief, Environmental Planning <br />DATE: January 29, 1997 <br />SUBJECT: REQUEST BY LOST TREE VILLAGE CORPORATION THAT THE COUNTY <br />REQUEST THE FLORIDA COMMUNITIES TRUST TO RE -APPRAISE THE <br />LOST TREE ISLANDS BASED ON LAND USE CHANGE PROPOSALS <br />It is requested that the information <br />formal consideration by the Board of <br />regular meeting of February 4, 1997. <br />DESCRIPTION AND CONDITIONS <br />herein presented be given <br />County Commissioners at its <br />Attached is a letter from Charles Bayer, Jr., President of Lost <br />Tree Village Corporation, requesting that the Board of County <br />Commissioners authorize a County letter to the Florida Communities <br />Trust (FCT) requesting a re -appraisal of the Lost Tree Islands. <br />The County's 40% cost -share grant from the FCT to purchase the Lost <br />Tree Islands has been extended to June 4, 1997. When the County was <br />originally awarded the grant in 1994, the County chose to have the <br />FCT negotiate the purchase. <br />Recently, Lost Tree Village Corporation appeared before the <br />Councils of the City of Vero Beach and the Town of Indian River <br />Shores and requested that the City and Town increase development <br />density allowances on the islands and release local bridgehead <br />restrictions. As a result, both the City and the Town Councils have <br />agreed to initiate comprehensive plan amendments and rezoning <br />processes that would increase the islands '.development density from <br />1 unit per 5 acres to 1 unit per 2 acres. The Councils also <br />conceptually agreed to release local bridgehead restrictions. <br />The City and Town agreed to initiate the land use changes based on <br />Lost Tree Village Corporation's position that the changes are <br />necessary to facilitate settlement of existing and potential <br />litigation, and also to facilitate a coming to terms between the <br />FCT and Lost Tree Village concerning the islands' value. <br />50 BOOK 10J MUE 533 <br />February 4, 1997 <br />L <br />