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6/9/1998
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6/9/1998
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
06/09/1998
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Board of Trustees <br />Agenda - June 9, 1998 <br />Page Three <br />Item 4 Carson Platt Estate Acquisition/South Florida Water Management District/ <br />Sebastian Creek CARL Project <br />REQUEST: Authorization to jointly acquire with the South Florida Water Management <br />District 5,361 acres within the Sebastian Creek CARL Project from the Carson Platt Estate. <br />COUNTIES: Brevard and Indian River <br />LOCATION: Section 00, Township 30 South, Range 38 East; Section 00, Township 31 <br />South, Range 37 East; and Sections 06 through 08 and 17 through 20, Township 31 South, <br />Range 38 East <br />CONSIDERATION: $5,013,805.86 (The Board of Trustees' 50 percent share of the total <br />purchase price of $10,027,611.72, to be adjusted upward or downward at the rate of $1,800 <br />per acre for parcel 1 and $1,930.22 per acre for parcel 2, in accordance with the final surveyed <br />acreage) <br />STAFF. REMARKS: The Sebastian Creek CARL project is ranked number 7 on the CARL <br />Bargain/Shared Project List approved by the Board of Trustees on February 11, 1997, and <br />qualifies for purchase under the Division of State Lands' Land Acquisition Workplan. The <br />project contains 22,493 acres, of which 16,625 acres have been acquired. After the Board of <br />Trustees approves this agreement, 507 acres or 2 percent of this project will remain to be <br />acquired. <br />On October 25, 1994, the Board of Trustees authorized staff to enter into an acquisition <br />agreement with the St. Johns River Water Management District (District) to acquire the <br />Sebastian Creek CARL project in accordance with section 259.041(16), F.S. (1994) utilizing <br />the procedures set out in section 373.139, F.S., with some technical survey modifications that <br />have been incorporated into the agreement. On November 10. 1994, the Governing Board of <br />the District approved and executed the acquisition agreement and it has been executed by the <br />Director of the Division of State Lands on behalf of the Board of Trustees. On Julv 14. 1995, <br />the Land Acquisition Advisory Council approved the addition of the Carson Platt Estate <br />property to the project boundary. <br />The terms of the acquisition agreement between the District and the Board of Trustees <br />provided for equal participation in the acquisition and ownership of the subject property; <br />however, Indian River County (County) expressed an interest to the District in participating in <br />funding the acquisition. Staff recommends pursuing this purchase as a combination <br />bargain/shared acquisition. Under the current policy on bargain purchases, the Board of <br />Trustees will partner on half of the transaction with the County, with the County contributing <br />25 percent of the purchase price but not holding any title interest. The other half of the <br />transaction will have the Board of Trustees partnering with the District under the shared <br />criteria, which will have the District contributing 25 percent of the purchase price and holding <br />a 25 percent title interest. Pursuant to the terms of the acquisition agreement, the District <br />contracted to purchase the property at 82 percent of the approved value. The Board of <br />Trustees' purchase price will be 50 percent of the contract price negotiated by the District plus <br />June 9, 1998 <br />87 <br />BOOK '95 <br />
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