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Board that she had been instrumental in getting the bridge permits denied and her only involvement at this point is in keeping track of the permitting process and the progress of the lawsuits. Commissioner Macht emphasized that the project is on schedule and we now have the funding available. All we need to do at this point is get the appraisals. Chairman Ginn questioned whether the appraisers have been contacted, and Mr. DeBlois responded that they have been contacted and alternate appraisals have been requested to better support the funding using several development scenarios. City of Vero Beach Attorney Julie Schutta reminded the Board that the County has already approved $8,000,000; the Town of Indian River Shores $1,000,000; and the City of Vero Beach $1,000,000 toward the purchase of Lost Tree Islands. Itis very important to the Town and the City that an offer be made as expeditiously as possible because of pending litigation. Lost Tree has now made application to the City for a construction permit to tie in a bridgehead and the City cannot delay that without giving them a reason for new litigation. She asked the Board to authorize staff to make a valid binding offer to purchase for $15,000,000 or the appraised value of the islands. If the appraisals are less than that, then it would not be a valid binding offer. She feared that unless the City moves on the application or Lost Tree receives a binding written offer, they will go forward with the litigation. Commissioner Stanbridge reminded everyone that there is another lawsuit pending with the Trustees of the Internal Improvement Fund and, until that is settled, Lost Tree cannot construct a bridge. A rehearing is expected in January or February. Commissioner Adams emphasized that this is a matter for staff to handle. Attorney Schutta felt she could not wait until that litigation is decided. DECEMBER 4, 2001 O,, F. p UA i I k:. I -121-