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Cost -Share Over the past two years, staff has worked with the SJRWMD and FIND to develop an acquisition partnership. In We 1994, the County executed a "Joint Acquisition Agreement" with the SJRWMD to acquire properties in the "Oslo Riverfront Corridor" under a 50/50 cost -share partnership. However, as coordination with SJRWMD staff progressed concerning acquisition of the Flinn Tract, it became apparent that the SJRWMD was reluctant to commit to a full 50% cost -share, largely because of the expense of the uplands relative to wetlands that the SJRWMD typically buys. The SJRWMD eventually agreed to a 21% cost -share of the final negotiated price. To make up the difference of the reduced SJRWMD cost -share, county staff approached the Florida Inland Navigation District (FIND) to determine if that agency was interested in participating in cost - share of the Flinn Tract. FIND recently finished a long term study that will result in FIND acquiring three permanent spoil management sites in Indian River County, one of which is located directly north of the Flinn Tract within the Indian River Boulevard South LAAC site project area. For that reason, FIND has expressed a willingness to participate as a 25 % cost -share partner in the Flinn Tract purchase, largely because public ownership of the Flinn Tract will complement FIND's anticipated purchase to the north by providing a green -space buffer. • Management Costs Similar to the Oslo Riverfront Conservation Area north of Oslo Road, the wetlands portion of the Flinn Tract will be managed by the Indian River Mosquito Control District in cooperation with the SJRWMD and the County. Management of the Flinn Tract uplands will be the responsibility of the County. However, because the Flinn Tract uplands are mostly native oak hammock, costs such as exotic plant removal will be minimized. Also, County staff anticipates cooperative management from FIND regarding management of the Flinn Tract as it complements the FIND spoil management site expected to be acquired immediately to the north. Contract In coming to terms with county staff on the negotiated purchase price (subject to County Commission and SJRWMD approval), the seller has executed a standard purchase contract Option Agreement with modifications to address certain issues explained herein. A copy of that contract is attached to this staff report. ANALYSIS Multiple Benefits • River Buffer/Wetlands Restoration The Flinn Tract purchase as proposed will, in addition to preserving a 21 acre native oak hammock in an area under significant development pressure, allow for improved impounded salt marsh management that will benefit the resources of the Indian River Lagoon. Specifically, acquisition of the Flinn Tract wetlands will allow connection of the impoundment to the lagoon via culverts with flap gates, which will benefit both mosquito control and lagoon habitat. • Comprehensive Plan Acquisition Commitment Conservation Policy 6.3 of the County Comprehensive Plan commits the County to acquire a minimum of 100 acres of coastal tropical hammock, and Policy 6 calls for acquisition of at least an overall total of 750 acres of native upland plant community. Although the County has already acquired more than 100 acres of coastal hammock, the Flinn Tract will contribute 21 acres toward the overall total native uplands acquisition commitment. The project also fiuthers objectives in the County comprehensive plan relating to floodplain protection, open space, and endangered species habitat protection. OCTOBER 14, 1997 49 BOOK 103 PAGE 55,