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pr <br />BOOK ! ['AGE 71 <br />9.A. PUBLIC HEARING - PURCHASE OF THE SALAMA AND <br />EMERSON PARCELS OF THE OSLO RIVERFRONT SOUTH LAAC <br />SITE -APPROVED (Deferred from 12/14/1999 Meeting) <br />PROOF OF PUBLICATION OF ADVERTISE&= FOR BEARING <br />IS ON FILE IN TBE OFFICE OF TBE CLERK TO THE BOARD <br />The Board reviewed a Memorandum of December 7,,1999: <br />TO: James E. Chandler <br />County Administrator <br />D TMENT HEAD CONCURRENCE: <br />ert M. Keating, AICP <br />Community DevelopmentD ec <br />tor 7 <br />open <br />FROM: Roland M. DeBiois;4QCP <br />Chief, Environmental Planning <br />DATE: December 7, 1999 <br />SUBJECT: APPROVAL OF PURCHASE OF THE SALAMA AND EMERSON PARCELS <br />OF THE OSLO RIVERFRONT SOUTH LAAC SITE <br />It is requested that the information herein presented be given formal consideration by the Board of County <br />Commissioners at its regular meeting of December 14, 1999. <br />SUMMARY <br />Staff recommends that the Board of County Commissioners purchase the Salama Development Corporation and <br />Estate of Stanley A. Emerson parcels of the "Oslo Riverfront South" LAAC Site with land acquisition bond <br />funds. The proposed purchase option contracts (already executed by the sellers) are summarized as follows: <br />Porchacer. Indian River County Board of County Commissioners / Florida Communities Trust <br />(County will hold title) <br />Seller. Salama Development Corporation (Pradip Manek, President) <br />Estate of Stanley A. Emerson (do Thomas L. Newman, Attorney for the Estate) <br />Cost Share; Florida Communities Trust (50%) <br />(includes share of acquisition costs) <br />Total Price Salama: $1.265,000 (38.48 acres; $32,875 per acre overall, —$51,845 per developable upland acre) <br />Finers n C 350-W (77 5 acres C1� 7`70 }„ per are n 1 S43 317 r_= deypipl+ahle upland acre) <br />Total: $1,615,000 (66.03 acres; $24.459 per acre overall, —$47,581 per developable upland acre) <br />Other Cods: ±$50,000 (appraisals, survey, environ. audit, other acquisition costs) <br />Cgunty Son s <br />Rynenditnree ±$890,000 (not including initial management costs) <br />Aacc ase: ±66 acres (± 36 upland acres, 30 wetland acres) <br />LAAO Recommendation! The County Land Acquisition Advisory Committee, at its meetings on November 17, 1999 <br />voted to recommend that the Board of County Commissioners purchase the subject parcels. <br />PrinelnaI Conditinnr'a„i: Closing subject to County Corrunission approval; County will purchase tracts in <br />coordination with the FCT. <br />December 21, 1999 <br />kn- <br />