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• <br /> than 120 days but not beyond the end of the year ; 3 ) to formally endorse direct negotiations <br /> with Lost Tree Village with written offers taken to the seller in order to determine whether <br /> there is a reluctant seller or an unwilling seller . He thought there might be a road map for <br /> success contained in the previous negotiations for the islands . <br /> Indian River Shores Vice Mayor John Klein advised he would like to make A <br /> couple of points regarding the islands since he had no idea what Mayor White and Mayor <br /> Cadden were going to say . He gave three conditions on the previous contract with Lost Tree <br /> Village as follows : 1 ) a reversion clause which the Commission rejected because there was <br /> no way of titling it properly ; 2 ) a "friendly condemnation " for a capital gains benefit to Lost <br /> Tree Village , about which the County had reservations and Deputy County Attorney Will <br /> Collins wrote a memorandum , and 3 ) the naming of the islands which is an emotional <br /> inducement . He pointed out the risks for both sides of the lawsuit ' s appeal and suggested <br /> the proper time to negotiate is before the Appellate Court rules . He thanked the Board for <br /> hearing him and for any help they give in the effort . <br /> Vice Chairman Stanbridge clarified that the " friendly condemnation " was the deal - <br /> killer in 1998 and the Cabinet ' s staff, especially the Comptroller ' s Office and the Treasurer ' s <br /> Office , considered it fraud . She believed votes from those two offices ( at the February <br /> meeting in Tallahassee) were in the County ' s favor because of the friendly condemnation . <br /> She understood it works in the real world, but , unfortunately , in 1998 that could not work <br /> in county government . It can work now if done properly , but she was unsure if it could be <br /> allowed under the bond ' s requirements . <br /> Commissioner Macht advised he would give his update now ( item 13 . D . ) rather than <br /> waiting until later in the agenda . As Chairman of the LAAC , he decided to become pro - <br /> active in this matter . He asked the Board to recall that they had asked Vice Chairman <br /> Stanbridge to begin looking for sources of funds outside of the County ' s bond funds about <br /> April 17, 2001 <br /> 47 _ <br /> B I 17 if) GO 935 <br />