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citizens. He felt that Lost Tree has been the stumbling block in these negotiations, that if they had accepted the offer, it would have been over and done, and the islands would be the County's. He wanted the County to own those islands and have them undeveloped. He had hoped that Lost Tree Village would have been more responsible. He felt there was no basis for negotiations given the appraisal and Lost Tree's price of $12,200,000. He felt there was nothing else that could be applied to enhance the value of the islands over the appraised value. Chairman Tippin opened the floor for public comment and hoped there would not be a lot of repetition. City of Vero Beach Vice Mayor Sandra Bowden, represented the City, read from prepared remarks, and presented the City's Resolution 98-11 as follows: RESOLUTION 98- 11 A RESOLUTION OF THE CITY OF VERO BEACH, FLORIDA, ASKING THE CONSIDERATION OF THE INDIAN RIVER COUNTY COMMISSION FOR THE PURCHASE OF LOST TREE VILLAGE ISLANDS. WHEREAS, the purchase of the Lost Tree Village Islands is a county -wide priority; and WHEREAS, many Vero Beach citizens have contacted the County to ask that the County acquire the Islands; and WHEREAS, the City supported the County's initiative in creating a $26 -million dollar bond fund to acquire environmentally sensitive properties including the Lost Tree Village Islands. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VERO BEACH, FLORIDA, THAT: 1. The County should negotiate directly with the Lost Tree Village Corporation, to acquire the Islands. 2. The County should establish a moratorium on expenditures for any additional county conservation land until the issue of the purchase of the islands is settled. 3. The City of Vero Beach joins with the Town of Indian River Shores to encourage the County to work towards the purchase of the Lost Tree Village Islands in a prompt and prudent manner. May 12, 1998 35 EO:J" 1 05 F:1Cc 5. jof,