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oK .103 PAIn It is requested that the information herein presented be given formal consideration by the Board of County Commissioners at its regular meeting of October 7, 1997. SUMMARY Staff recommends that the Board of County Commissioners purchase the Flinn Tract - Indian River Boulevard site with land acquisition bond fiords. The purchase option contract (already executed by the seller) is summarized as follows: 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 (21%. 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; 25% paid by SJRWMD)) County Bonds Expenditure: +$764,667 Acreage: + 37.6 acres (±21.10 ac. uplands; ±0.80 ac. non -estuarine wetlands; 15.70 estuarine wetlands identified by SJRWMD as potentially sovereignty 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 interest, County will be responsible for management of uplands, Indian River Mosquito Control District responsible for wetlands management in coordination with the SJRWMD. DE9CREMON 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. OCTOBER 14, 1997 46