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I <br />The —90 acre Harmony Oaks property, located adjacent to the Indian River Lagoon south of Vero Shores <br />Subdivision at the south county line, was acquired by the County in May 1998. The FCT grant award is for <br />50% cost -share reimbursement. The FCT has recently approved a "project plan" for the property, and a <br />wetland survey that is near completion is the final item needed for reimbursement to proceed. Completion <br />of the reimbursement is expected to occur in the next month. <br />The --163 acre Oyster Bar Salt Marsh project is located along the Indian River Lagoon on the barrier island, <br />north of Round Island Park (riverside). Appraisals have been completed, and negotiations are underway with <br />twelve owners in the project. The extension is necessary to allow for negotiations to progress. <br />Blue(' oc <br />If the County is to continue the Blue Goose acquisition project, it must make a determination on whether the <br />remaining Ilett parcels meet the County's environmental lands program objectives as a "standalone" <br />Purchase. It is unlikely that the land will be privately developed due to its environmentally sensitive <br />characteristics, the Ilett parcels' value is in its potential use as mitigation for off-site development projects, <br />VS. actual on-site development. <br />If the County chooses to terminate the Blue Goose project, the FCT will release its matching funds reserved <br />for the project to fund other projects on FCT's "contingency list." Coincidently, the highest ranked project <br />on FCT's contingency list for this year's funding cycle is Indian River County's own "Wabasso Scrub <br />Addition" project. Therefore, by terminating the Blue Goose project, the County will be releasing FCT funds <br />to the benefit of another County LAAC project. <br />Staff recommends that the Board of County Commissioners authorize the Board Chairman to execute the <br />attached agreement addenda for the Harmony Oaks and Oyster Bar Salt Marsh LAAC projects. Regarding <br />the Blue Goose LAAC site, staff recommends that the Board formally terminate the Blue Goose acquisition <br />project, and that the Board direct staff to notify the FCT of the action. <br />1 • Maps of the Blue Goose. Harmony Oaks, and Oyster Bar Salt Marsh acquisition projects. <br />2• "Addendum 2 to Conceptual Approval Agreement" documents relating to the Harmony Oaks. Oyster <br />Bar Salt Marsh, and Blue Goose projects. <br />February 15, 2000 <br />58 <br />