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BOOKo, 9fAGt Z ,A Total Prim; $260,000 (±$134,715 per acre) - Other Cods. ±$10,000 (appraisals, environ. audit, title insurance) stimatW County Bonds Fanenditn— ±$135,000 (approximate, not including initial management costs) A r aoe: + 1.93 acres The County Land Acquisition Advisory Committee (LAAC) is scheduled to consider this matter at its May 26, 1999 meeting, after the BCC agenda packet deadline for this item. LAAC's recommendation will be orally presented to the Board by staff at the June 1, 1999 Board meeting. Closing of the property, in the event the County does not reach agreement with prospective buyer Tom Collins, will be subject to Board of County Commissioners and FCT Governing Body approval of purchase contract and project plan, including an overall project management plan. The Blue Goose project was approved in 1998 as a Florida Communities Trust (FCT) 50/50 cost -share project The property is currently ranked 9th out of 13 projects on the LAAC site acquisition list The ±1.93 acre "Preuss parcel" is one of three separate ownerships in the overall ±25 acre Blue Goose project. In its application for state cost -share funding, the County chose to be the lead agency for pre-acquisition tasks and negotiations. During the past year, the county's acquisition consultant, in coordination with county staff, has conducted pre-acquisition tasks and negotiations. Since the seller recently accepted and executed a purchase contract Option Agreement for the project, appraisal results and other confidential information can now be released. The County Land Acquisition Advisory Committee (LAAO is scheduled to consider this matter at its May 26, 1999 meeting, after the writing of this agenda item. LAAC's recommendation will be orally presented to the Board by staff at the June 1, 1999 Board meeting. This public hearing has been advertised 30 days in advance to fulfill a State statute requirement that the County hold a public meeting after having provided at least 30 days advertised public notice to formally consider approving and exercising its purchase option for the Preuss property. The State requirement that the Board hold a public meeting to consider exercising its option after having provided 30 days advertised notice of the meeting applies because the County chose to keep its appraisal of the subject property confidential until the seller executed a binding option contract. Once that option contract had been signed, the appraisal was released and has been available to the public during the 30 day period prior to the advertised public meeting. Besides meeting State statute requirements, the hearing on the Preuss property will serve to meet a Land Acquisition Guide requirement that the County hold a public hearing prior to purchasing any property with land acquisition bond funds. The subject Preuss parcel is located south of Earring Point Road, approximately 1/4 mile south of S.R. 510, west of Jungle Trail. Earring Point Road is a one -lane unpaved ingress/egress easement that is the sole land access to the Preuss parcel. The parcel is zoned RS -1, single-family residential, up to one unit per acre, with a Comprehensive Plan Land Use designation of L-2, low density residential, up to 6 units per acre. The property supports mangrove fringe along over 700 feet of Indian River Lagoon frontage. Approximately 0.80 acres of the property is under a conservation easement held by the State Department of Environmental Protection (DEP), as mitigation for fill placement allowed on the property in 1989. A septic tank exists on the eastern portion of the property that was installed in that approximate time period. Although the property is irregularly shape and is partially restricted by an existing conservation easement, county planning staff has confirmed that the parcel has sufficient development area for one single-family residence, including an accessory boat dock. Currently, the subject property is owned by Daniel I. Preuss, Trustee, Barbara B. Lynch, Trustee, and Wayne C. Sommers. The current tax assessed value of the property is $98,430. JUNE 19 1999