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DESCRIPTION AND CONDITIONS In November 2001, Indian River County, in coordination with the Indian River County Historical Society, was awarded a Florida Communities Trust (FCT) .15% cost -share grant for purchase of the Hallstrom Farmstead project on south Old Dixie Highway (see attached map). The —90 acre project was initially approved for "contingency funding," meaning that it would only be funded by the FCT if money became available due to adjusted funding needs of higher ranked projects. Recently, county staff was advised by the FCT that funding has in fact become available, and the Hallstrom Farmstead is now officially eligible for funding. Since November. FCT staff has visited the Hallstrom project site with county staff to verify site conditions as represented in the project application. The County is also in the process of obtaining two independent appraisals of the property. In accordance with State procedures, the next step is for the FCT Governing Body and the County to execute a "Conceptual Approval Agreement" (CAA) for the cost -share funding project. In accordance with FCT procedures, the County is also required to execute a Confidentiality Agreement, identifying individuals who will be privy to appraisal infouiiation and obligated to maintain confidentiality prior to the sellers' execution of purchase option agreements. Attached is the CAA and Confidentiality Agreement for the Board's approval consideration. ANALYSIS • Conceptual Approval Agreement the CAA consists of standard Language and conditions pursuant to Rule 9K-4. Florida Administrative Code, which is the rule that sets forth FCT program procedures. The Agreement consists of ten main sections, as follows: I. General Conditions II. Audit Requirements III. Requirements that Must be Met Prior to Initiation of Project Site Negotiation IV. Management Plan Approval V. Project Plan Approval VI. Project Site Acquisition Requirements Imposed by Chapter 259 and Chapter 330, Part III, F.S. VII. Obligations of the FCT Recipient as a Condition of Project Funding VIII. Obligations of the Recipient Relating to the Use of Bond Proceeds IX. Disallowable Activities/Remedies X. Conditions Particular to the Project Site Plan that Must be Addressed in the Management Plan The General Conditions section of the agreement contains standard language pertaining to timing and coordination of steps between the County and FCT, and among other things identifies the key contact from the County for purposes of coordinating project activities. The Audit Requirements section specifies audit requirements under Section 215.97, F.S., the Florida Single Audit Act. Requirements that Must be Met Prior to Initiation of Project Site Negotiation: this section identifies the representative of the County authorized to execute documents associated with the project. (Consistent with past FCT projects, the Board Chairman is proposed as the County's representative, subject to full Board authorization). Additionally, this section identifies the County's acquisition agent (FloridAffinity, Inc.) and also specifies FCT acquisition and negotiation procedures, identifying infoiniation that the County is April 9, 2002 16 n urn rt