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• <br />In April 1998, the Board approved purchase of the Harmony Oaks property prior to securing matching funds <br />from the FCT or from another cost -share partner. At that time, the seller had indicated a willingness to sell <br />only if the County was able to close in a short time frame, quicker than the normal process of first obtaining <br />a cost -share partner and closing in accordance with state procedures and time frames. Due to the property <br />having significant environmental characteristics, the Board voted to proceed with the purchase at 83% of the <br />appraised value, despite not having secured cost -share fiords at the time, as recommended by the Land <br />Acquisition Advisory Committee (LAAC) and by staff. <br />The 1998 appraisal, on which the County based its offer, was done by Armfield-Wagner Appraisal, Inc. The <br />appraised value was based on --15 upland acres and —75 wetland acres, estimated by an environmental <br />consultant for the seller and checked by county environmental planning staff via aerial photo review, short <br />of the County obtaining a formal wetland delineation survey. <br />The upland/wetland survey now completed reveals a total of 10.1 upland acres, and a 3.1 acre area composed <br />of a mixture of environmentally degraded uplands and wetlands. Based on this revised acreage, the FCT <br />recalculated its cost -share contribution. <br />Since the County has already purchased the property, and did so under risk of not qualifying for cost -share <br />funds, it is staffs position that the Board should approve the attached amended calculation statement, and <br />proceed to obtain the $145,867.60 reimbursement from the FCT. <br />Staff recommends that the Board of County Commissioners approve the attached Amended Grant Award <br />Calculation statement, and authorize the Board Chairman to execute the document. Moreover, staff <br />recommends that the Board authorize county staff to transmit the executed document to the FCT to finalize <br />FCT cost -share reimbursement. <br />MAY 239 2000 <br />ON MOTION by Commissioner Ginn, SECONDED <br />by Commissioner Stanbridge, the Board <br />unanimously approved the Amended Grant Award <br />Calculation statement; authorized the Chairman to <br />execute same; and authorized staff to transmit the <br />executed document to Florida Communities Trust to <br />finalize the cost -share reimbursement, as <br />recommended by staff. <br />DOCUMENTS ARE ON FILE IN THE OFFICE <br />OF THE CLERK TO THE BOARD <br />-21- <br />0 <br />s ,� A <br />EOOK iLtJ PAGE vo-� <br />