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C1091", ` 01 PAGE <br />DESCRIPTION AND CONDITIONS <br />Staff requests that the Board of County Commissioners authorize the Board <br />Chairman to execute the attached "Addendum alto Conceptual Approval Agreement" <br />for the Lost Tree Islands (FCT Project #93-001-P3A). <br />This Addendum extends the FCT grant award expiration date for the Lost Tree <br />Islands project to December 4, 1997, to allow for further negotiations. The <br />document formalizes the FCT Governing Body's approval of county staff's request <br />for an extension, which approval occurred at the FCT Governing Body's meeting on <br />April 17, 1997. <br />Acquisition Status <br />On February 4, 1997, the Board of County Commissioners voted to formally <br />requested that the FCT re -appraise the Lost Tree Islands, based on pending land <br />use amendments by the Town of Indian River Shores and the City of Vero Beach <br />proposed as a settlement of ongoing litigation by Lost Tree Village Corporation. <br />FCT has heeded the Board's request, and two new appraisals are expected to be <br />completed by the end of this month. Once the appraisals are completed, the <br />appraisals will be reviewed for sufficiency by a third independent review <br />appraiser. <br />Given the time frames for completion of the re -appraisals, county staff expects <br />that negotiations will be completed prior to the extended December 4, 1997 grant <br />expiration date. <br />RECO14ME NDATION <br />Staff recommends that the Board of County Commissioners authorize the Board <br />Chairman to execute the attached agreement addendum, and authorize staff to <br />coordinate with the Town of Indian River Shores and the City of Vero Beach for <br />approval of the addendum by those municipalities. <br />ATTACHMENTS <br />1. Addendum VI to the Conceptual Approval Agreement relating to <br />County/State acquisition of the Lost Tree Islands. <br />ON MOTION by Commissioner Adams, SECONDED BY Commissioner <br />Ginn, the Board unanimously approved the extension of the Florida <br />Communities Trust Cost -Share Acquisition Agreement for Purchase of the <br />Lost Tree Islands; authorized the Chairman to execute the addendum <br />submitted; and authorized staff to coordinate with the Town of Indian <br />River Shores and the City of Vero Beach for approval of the addendum by <br />those municipalities, as recommended in the Memorandum. <br />COPY OF PARTIALLY EXECUTED ADDENDUM VI IS ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />7.G. FloodDlain Cut and Fill Balance Waiver — Durrance Place Lot 1 <br />The Board reviewed a Memorandum dated June 9, 1997: <br />14 <br />JUNE 249 1997 <br />