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LAAC Recommendation As indicated in the summary section of this memorandum, the County Land Acquisition Advisory Committee (LAAC), at its meeting on February 27, 2002, voted 13 to 1 to recommend that the Board approve the purchase contract (see attached unapproved minutes). Site Characteristics The parcel consists of pine flatwoods and is zoned Rose -4, Residential, up to four units per acre. Ownership Characteristics Louis Simonye owns the subject parcel. The current tax assessed value of the parcel is $33,150. Acquisition Cost & Property Management This acquisition is proposed as a "stand-alone" county purchase with no cost -share. Staffs position is that, due to the relative low cost of the parcel compared to other environmental land acquisitions, it is not cost- effective to expend county staff time and other resources in applying for a cost -share grant. Moreover, by not having to meet cost -share agency criteria, the County has the opportunity to save on certain costs (i.e., professional services for an environmental assessment). • Management Costs Addition of the Simonye parcel will have minimal effect on management commitments already made by the County in acquiring the North Sebastian Conservation Area. Appraisal In accordance with County Land Acquisition Guide procedures, an independent appraisal was obtained to determine an approved appraised value. Since the property's value is less than $500,000, only one appraisal was obtained. The appraisal fiiul selected was Armfield-Wagner Appraisal & Research, Inc. The appraised value for the property is summarized as follows. SIMONYE PARCEL ADDITION TO THE NSCA Ownership Approx. Acres Upland j Wetland Approved Appraised Value Louis Simonye 6.36 (includes 1.36 acre 60' wide access 0.00 s65,000 Negotiated Price (% of Approved Appraised Value) $58,000 (89%) MARCH 12, 2002 -40-