7/14/1998 - Laserfiche WebLink

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BOOK 1.00' '`'AuE3 - ANALYSIS The LAAC properties listed under "anticipated activity" on the May 12' Costs/Revenues matrix are as follows: • Round Island South • Wabasso Scrub CA Addition • North Sebastian CA Addition • Spallone/Archie Carr Tract • Oyster Bar Salt Marsh At the LAAC meeting, staff indicated that other properties, such as the Salama property of the Oslo Riverfront South project may soon become "active," as may other properties that have been appraised. LAAC member Talmage Rogers, who made the motion to limit bond funds expenditure, clarified that his recommendation was to allow for negotiations of various projects to continue, including possibly those listed as "other projects," so long as the overall commitment of county funds at this time does not exceed funds available under the first bond issuance. LAAC Discussion Issues A number of issues were discussed by LAAC relating to expenditure of bond funds. Those issues included: status of the Lost Tree Islands purchase; fulfillment of County Comprehensive Plan land acquisition minimum acreage commitments; and whether or not the County should continue to purchase lands beyond the minimum acreage commitments. Lost Tree Islands It was explained to LAAC that there are currently no negotiations occurring to purchase the Lost Tree Islands. However, settlements of law suits affecting the islands are being considered, which could affect property value and result in re -appraisals. Moreover, it was reported to the Committee that a channel between the "inner" islands and the barrier island may result in State prohibited bridging and utilities access to those islands, even though Lost Tree Village Corporation (LTVC) claims ownership of the submerged bottom - lands. That issue, because of its complexity, could take years to resolve. One train of thought in the LAAC discussion was for the County to hold off on issuing the second bond series (§+10.5 million, after bond issuance costs) in the event that negotiations to purchase the Lost Tree Islands resume, whereby funds would then be available for purchase of the islands. The opposing view on reserving funds for the islands was that the County and LTVC may never come to terms, and in the meantime opportunities to purchase other environmental lands under the program would be lost. Comprehensive Plan Commitments It was discussed at the LAAC meeting that, once the Carson Platt Estate property is purchased, the minimum requirements of the 2020 County Comprehensive Plan concerning acquisition of conservation lands will be fulfilled, and therefore there is no need to issue the second bond series and unnecessarily expend more taxpayers' dollars. The other viewpoint expressed at the LAAC meeting was that the County should go beyond the minimum purchase commitments, spend the full $26 million as approved by county voters, and continue to buy conservation land to preserve "quality of life" and dwindling natural resources for present and future generations. The motion approved by LAAC relates to the County holding off on committing second series bond funds at this time. If an opportunity arises to purchase the Lost Tree Islands or other properties that would entail expending funds beyond the first bond series, then LAAC and the Board could reconsider the matter at that time. July 14, 1998