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11 . G . 5 . 41 ST STREET/GIFFORD AREA STORMWATER <br /> IMPROVEMENTS - INDIAN RIVER BUSINESS PARK ., <br /> INC . - STORMWATER TRACT AND RIGHT - OF - WAY <br /> ACQUISITION <br /> The Board reviewed a Memorandum of April 16 , 2001 : <br /> TO : James Chandler <br /> County Administrator <br /> THROUGH : James W . Davis , P . E . <br /> Public Works Director <br /> Keith McCully , P . E . <br /> County Stormwater Engineerdy�, <br /> l/"` / <br /> FROM : William M . Napier, SRPA , SRA / 1A <br /> Right-of-Way Agent <br /> SUBJECT : Stormwater Tract and Right -of-Way Acquisition <br /> 41 " Street / Gifford Area Stormwater Improvements <br /> Indian River Business Park , Inc . , Owner <br /> DATE : April 16 2001 <br /> DESCRIPTION AND CONDITIONS <br /> In conjunction with the Gifford Area Stormwater Improvements Project , 8 . 86 acres of land <br /> is needed for a stormwater site and additional right-of-way for swales and future road <br /> widening . Negotiations for acquiring this parcel have taken place since October, 1998 . The <br /> owner has executed a contract at a purchase price of $ 154 , 000 , or an average of <br /> $ 17 , 381 . 49 per acre for the I -L zoned parcel . This negotiated price is based upon $25 , 000 <br /> per acre for upland areas , and $ 10 , 000 per acre for wetland/environmentally- sensitive <br /> areas . An appraisal performed for the County placed the value at $ 140 , 500 (the County' s <br /> offer amount ) , or an average of $ 15 , 857 . 79 per acre . <br /> While the negotiated price for the land is within 10 percent of the County' s offer, the Seller <br /> conditioned the counter-offer on the further condition that the County agrees to clear <br /> Seller' s remainder property (except for a 20 foot buffer along the east side ) . This would <br /> consist of 13 . 37 acres to be cleared at a cost of approximately $ 3 , 000 per acre , or an <br /> additional $40 , 110 in addition to land cost. This work would be performed by the Road and <br /> Bridge Division . The Property Owner has agreed to allow the County to use the cleared <br /> remainder for staging the drainage system construction , temporary fill stockpile , and <br /> related uses . There are no further appraisal or attorney fees . <br /> MAY 19 2001 BK I 16S <br /> - 73 - <br />