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which she has been diligent . He has established contact with Mr . Charles Bayer, the <br /> executive director of the Lost Tree corporation and he has had four or five very cordial <br /> sessions with him , constructive to a point . He did not have authorization to make an offer <br /> or negotiate . He made proposals to Mr . Bayer in the hope that a deal could be reached which <br /> would obviate the need and continuation of the appeal process . If any of these proposals had <br /> fallen upon receptive ears he would have brought it to the Board . The proposals included the <br /> possible naming of the islands and the " friendly condemnation " idea ; Mr . Bayer declined <br /> within the scheduled time limit for a response after each of the first four sessions . When <br /> asked what he considered the value of the islands , Mr . Bayer said he would have to know <br /> what the property was worth based on what the municipalities would allow him to do . He <br /> closed the sessions by saying he was 95 % sure that he would prevail at the 4 " District Court <br /> of Appeals , which seemed to be optimistic to Commissioner Macht . Their last conversation <br /> occurred at the close of business the previous day . There was nothing further to report . <br /> Commissioner Macht continued that in his talks with the Mayors , one of the <br /> components of purchase money was a contribution from the municipalities to the tune of <br /> about a million dollars . They did not reject that proposal but will have to go to their councils <br /> for permission . He thought it might be productive to have both mayors and a designee , <br /> himself or Vice Chairman Stanbridge , from the County meet face - to- face with Mr . Bayer . <br /> Regarding setting aside a sum from the $ 11 million bond issue , when and if authorized by <br /> the Board , he thought that the bond proceeds would be available for a longer length of time <br /> than requested as a result of the way business is done . As to prioritization , he stated that <br /> priorities are driven by pragmatic sanctions , availability and the willingness of a seller, at <br /> the time of due diligence and the decision of LAAC . Whoever is there first with a deal has <br /> de facto the top priority . therefore he did not know what difference it would make to <br /> artificially elevate the priority of the islands . Presently LAAC is , as part of its annual <br /> April 17 , 2001 <br /> 48 09 1 $ 9 FG 9 3 6 <br />