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TO: James E. Chandler County Administrator 7ftI7 HEA CONC(TRRENCE: � 0/. =A 4f R er M. Kdalftn4l, AIC Community Development irector_ FROM: Roland M. DeBlois,r"AICP Chief, Environmental Planning DATE: February 5, 1997 RE: Approval of Option Agreement for Sale of the Eastern Portion of the Korangy Tract to the State for Cost -Share Reimbursement Under the State CARL Program It is requested that the data herein presented be given formal consideration by the Board of County Commissioners at its regular meeting of February 11, 1997. DESCRIPTION AND CONDITIONS On April 18, 1995, the Board of County Commissioners approved County purchase of the +132 acre Korangy Tract on north Jungle Trail at a purchase price of $672,000. Prior to County closing on the property, which occurred in June, 1995, the County executed a "Multi -Party Acquisition Agreement" with the Division of State Lands for the State to buy the eastern upland acreage of the property for inclusion in the State's Archie Carr Sea Turtle Refuge project under the Conservation and Recreational lands (CARL) program. The State has completed its review and acceptance of appraisals and surveys of the portion of the Korangy Tract the State is agreeing to buy. As a result, the State's approved appraised value is $440,000, which translates to 65% reimbursement of the County's purchase price of the overall property. Attached is an Option Agreement for Sale and Purchase of the eastern 9.17 acres of the Korangy Tract from the County to the State, for the Board's approval consideration. ANALYSIS The attached Option Agreement is comparable to other Option Agreements that the County has executed as part of cost -share agreements with the State for the purchase of environmental lands. As proposed, the County will retain title to +122.5 acres of the Korangy Tract. When the County purchased the Korangy Tract, the U.S. Fish and Wildlife Service (FWS) agreed to manage the property as part of the Pelican Island National Wildlife Refuge. County and FWS staff are in the process of finalizing a draft of a management agreement document for that purpose. Although the eastern 9.17 acres is proposed to be sold and titled to the State, it is expected that the FWS will continue to be the managing agency. RECOZOEMATION Staff recommends that the Board of County Commissioners approve the attached Option Agreement for County sale of the eastern 9.17 acres of the Korangy Tract to the Board of Trustees of the Internal Improvement Trust Fund at the price of $440,000, and authorize the Board Chairman to execute the document and other documents as necessary to facilitate the sale closing. BOOK M EAGE c 7. FEBRUARY 11, 1997 17