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Parcel <br />Approx. Acres <br />Appraised Values <br />Approved <br />Negotiated Price <br />Upland I Wetland <br />Appraised Value <br />(% of Approved <br />Appraised Value) <br />Swedroe <br />1.7 1 4.1 <br />Baker: 85,000 <br />85,000 <br />80,000 (94%) <br />Wingo: 81,600 <br />Gilman (3 parcels) <br />6.3 j 16.2 <br />Baker. 306,400 <br />306,400 <br />334,000 (109%) <br />Wingo: 289,500 <br />deGuzman <br />2.1 j 4.9 <br />Baker: 105,000 <br />105,000 <br />102,900 (98%) <br />Wingo: 100,800 <br />Padden <br />2.0 1 7.1 <br />Baker: 100,000 <br />100,000 <br />85,000 (85%) <br />Wingo: 96,000 <br />Total: <br />12.1 ac. 1 323 ac. <br />(NIA) <br />S596A00_1 <br />S601,900(101%) <br />The combined negotiated purchase price of $601,900 is ±101% of the overall approved appraised <br />value for the subject parcels. <br />In coming to terms with FCT and county staff on the negotiated purchase prices (subject to County <br />Commission and FCT approval), the sellers have executed standard FCT purchase contract Option <br />Agreements with minor modifications. A copy of the Padden contract, which represents the typical <br />option contract, is attached to this staff report. Copies of the Swedroe, Gilman, and deGuzman <br />contracts are on file in the County Commission Office. <br />With the exception of the three Gilman parcels, the negotiated purchase prices are below the <br />approved appraised values. As with all LAAC site purchase negotiations, staffs objective was to <br />negotiate a purchase price at or below the approved appraised value. In the case of the Gilman <br />parcels, however, staffs two plus years of negotiations failed to obtain a purchase price at or below <br />the appraised value. Staffs position is that the negotiated purchase price is the best that could be <br />obtained under the circumstances. Staffs acceptance of the negotiated purchase price of the Gilman <br />parcels (9% above appraised value) is based on the key nature of the parcels to the overall <br />project, and also on the fact that the purchase price of the overall Round Island South project will <br />as a whole remain within 1 % of the overall approved appraised value. Notwithstanding, because the <br />negotiated purchase price for the Gilman parcels is higher than the average of the appraised values, <br />the Gilman parcels purchase will require a "super -majority" (4 out of 5) vote of the County <br />Commission. <br />• Environmental Education <br />As with most of the County's proposed acquisitions, the purchase will enhance <br />education in the County. With this property, the educational function will consist of nature trails and <br />educational displays for the site. <br />September 8, 1998 <br />29 <br />BOOK �� FaL) <br />• <br />