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BOOK hi PAGE 53 <br />7. F. "HARMONY OAKS" - ENVIRONMENTAL LAND PURCHASE WITH FLORIDA <br />COMMUNITIES TRUST (FCTI -AMENDED GRANT AWARD CALCULATION <br />STATE COST -SHARE REIMBURSEMENT, <br />The Board reviewed a Memorandum of May 16, 2000: <br />TO: James E. Chandler <br />County Administrator <br />DWMENT HEAD CONCURRENCE: <br />Robert M. Keating, AICP <br />Community Development D' ector <br />FROM: Roland M. DeBloi <br />Chief, Environmental Planning <br />DATE: May 16, 2000 <br />SUBJECT: Board Approval of Amended Grant Award Calculation: State Cost -Share <br />Reimbursement for the "Harmony Oaks" Environmental Land Purchase <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 May 23, 2000. <br />Staff is requesting that the Board of County Commissioners consider approving the attached "Amended <br />Grant Award Calculation" statement for the Harmony Oaks environmental land purchase, to finalize cost - <br />share reimbursement from the Florida Communities Trust (FCT). <br />Background <br />At a public hearing on April 21, 1998, the Board approved county purchase of the ±90 acre "Harmony Oaks" <br />property using environmental land bond finds. The property is at the south county line east of U.S. #1, south <br />of Vero Shores Subdivision. <br />The County closed the purchase of the Harmony Oaks property in May 1998 at a purchase price of $299,500 <br />(83% of the appraised value). In the meantime, the County applied for an after -the -fact 50% cost -share <br />reimbursement grant from the Florida Communities Trust (FCT). The FCT subsequently approved the grant, <br />and on October 5, 1999, the Board approved documents required by the FCT for finalization of cost -share <br />reimbursement, including a Grant Award Calculation Statement. The Grant Award Calculation at that time <br />estimated a cost -share reimbursement from the FCT of $154,017.60. <br />Now, based on a detailed survey of wetland and upland acreage at the property, as required by the FCT, it <br />has been determined that there is less upland acreage than was originally estimated when the property was <br />appraised (in 1998). Consequently, the FCT has drafted the attached Amended Grant Award Calculation <br />statement that reduces the FCT reimbursement from the original estimate of $154,017.60 to $145,867.60 (a <br />difference of $8,150.00). <br />MAY 239 2000 <br />-20- <br />-I <br />