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BOOK 107 PAGE b,3 DATE: November 3, 1998 SUBJECT: Approval of County Purchase of the North Sebastian C.A. Addition (Anstalt) Property under the County Environmental Lands Program It is requested that the information herein presented be given formal consideration by the Board of County Commissioners at its regular meeting of November 10, 1998. SUAMABY Staff recommends that the Board of County Commissioners purchase the "North Sebastian Conservation Area (CA) Addition" (Anstalt) property with land acquisition bond funds. The proposed purchase option contract (already executed by the seller) is summarized as follows: Por hater Indian River County Board of County Commissioners / Florida Communities Trust (County will hold title) Roller Amistad Anstalt (a Liechtenstein Corporation) c/o R. Mason Blake Cost chars; Florida Communities Trust (50016) (includes share of acquisition costs) Total Price $76,000 (±$4,000 per acre) other Costa: ±$15,000 (appraisal, survey, environ. audit, management plan update, consultant hours) County Bonda F.:penditure• ±$45,500 Arreao : ±19 acres (±18 acres xeric sand pine scrub, ±1 acre wetland) LAAC Recommend2flon: The Land Acquisition Advisory Committee (LAAO), at its meeting of September 30, 1998, voted unanimously (11 to 0) to recommend that the Board of County Commissioners approve purchase of the subject Anstalt property- Closing reppy Closing subject to County Commission approval; County will purchase tract and apply for cost -share reimbursement from the FCT as a boundary amendment to the St. Sebastian PUD FCT cost -share agreement. The subject ±19 acre North Sebastian C.A. Addition is the last remaining parcel proposed for acquisition in the North Sebastian Conservation Area, north of Sebastian City Hall. The subject property is bordered on three sides by public conservation land (the St. Sebastian PUD and AGC Industrial tracts). The North Sebastian C.A. Addition is currently ranked 8th on the LAAC site acquisition list. The proposed addition would expand the existing ±388 acre North Sebastian Conservation Area to ±407 acres. The subject property is listed under "anticipated activity" on the "LAAC Projects Costs/Revenues Report" presented to the Board on May 12, 1998, and county bond fimds are available for the purchase under the first series $15 million bond issuance. The County Land Acquisition Advisory Committee (LAAC), at its meeting on September 30, 1998, voted unanimously to recommend that the Board approve the purchase contract, subject to the County applying for after -the -fact 50% cost -share reimbursement through the Florida Communities Trust program (see attached LAAC meeting minutes excerpt). November 10, 1998 34