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;a ) b01 f,AGE. Purchaser. Indian River County Board of County Commissioners, St. Johns River Water Management District (SJRWMD), and the Florida Inland Navigation District (FIND); each agency will hold undivided interest Seller. Robert A. Flinn & Richard M. Flinn Cost -Share: St. Johns River Water Management District (210/o: not exceeding $284,360.20) Florida Inland Navigation District (25%; ±$338,387) Indian River County (54%; ±$730,917) Total Price: $1,353.550 Other Costs: ±$45.000 (appraisals. survey, title insurance: 251/6 paid by SJRWMD)) County Bonds Ezuenditure: +$764.667 Acreane: + 37.6 acres (±21.10 ac. uplands: ±0.80 ac. non -estuarine wetlands. 15.70 estuarine wetlands identified by SJRWMD as potentially sovereigpty lands) LAAC Recommendation: The County Land Acquisition Advisory Committee (LAAC), at its meeting on August 27. 1997, voted 11 to 3 to recommend that the Board purchase the Flinn Tract conditioned upon finalization of cost -share participation by FIND and the SJRWMD (see attached unapproved LAAC meeting minutes). Principal Conditions: Closing subject to County Commission approval; cost -share agencies will hold undivided imerM County will be responsible for management of uplands. Indian River Mosquito Control District responsible for wedands management in codrdination with the SJRWMD. DESCRIPTION AND CONDITIONS The subject Flinn Tract is the "key" property of the Indian River Boulevard South project, which is currently ranked 14th out of 19 projects on the LAAC site acquisition list. During the past years, the county's acquisition consultant, in coordination with county staff and cost -share agencies, has overseen pre-acquisition tasks and conducted negotiations. Procedures adopted by the Board of County Commissioners for environmental land acquisition include confidentiality of appraisals. In accordance with the County's Land Acquisition Guide, and Section 125.355 of the Florida Statutes, appraisals can be released for public information once an option agreement is executed between a seller and the County. Regarding the Flinn property, an option agreement was executed (binding the seller to a negotiated purchase price), and subsequently the appraisals were released from confidentiality. When a county exercises its confidentiality right in purchasing real property, Section 125.355, F.S. requires that the county approve the purchase at a public meeting not less than 30 days after appraisals are released and public notice of the meeting is given. Since the Chairman of the Board of County Commissioners, pursuant to authority delegated by the Board, executed a purchase option for the Flint property, and since appraisals of the property were made public at that time, the Board must now consider whether to exercise its purchase option (contingent on the SJRWMD exercising its option). Consistent with Chapter 125, F.S. requirements, this decision will be made at the October 7, 1997 public meeting of the Board of County Commissioners (unless the Board agrees to continue the hearing at that time to another meeting). By having given 30 days public notice of this proposed action, the County will have complied with Chapter 125 requirements as well as LAAC Guide requirements to hold a public hearing before purchasing property with land acquisition bond funds. Site Characteristics The ±37.6 acre Flinn Tract is located on the east side of Indian River Boulevard, approximately across from the Boulevard's intersection with 86 Street. The property contains a +21 acre coastal oak hammock and approximately 161/2 acres of wetlands bordering the Indian River Lagoon. Approximately 15.70 acres of the wetlands are impounded estuarine salt marsh, which are part of a bigger +3 5 acre impoundment known as "Schlitt's Impoundment" (#21). The Flinn Tract acquisition is the culmination of acquisition efforts within the overall Indian River Boulevard South project, which is made up of 7 ownerships and extends from the city limits of Vero Beach to Vista Gardists on the east side of Indian River Boulevard. The Flinn Tract is the only tract in the project containing a significant natural upland community. Through the efforts of the County, OCTOBER 7, 1997