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adjusted approved appraised value) , as <br /> recommended by LAAC and staff. <br /> 9 . A. 3 . BOARD CONSIDERATION TO APPROVE PURCHASE OF THE <br /> SHADOWBROOK ESTATES , INC . PARCEL OF THE " SOUTH PRONG <br /> SLOUGH" SITE UNDER THE COUNTY ENVIRONMENTAL LANDS <br /> PROPGRAM (ADMINISTRATIVE) <br /> PROOF OF PUBLICATION OF ADVERTISEMENT FOR PUBLIC HEARING <br /> IS ON FILE IN THE OFFICE OF THE CLERK TO THE BOARD <br /> Environmental Planning & Code Enforcement Chief Roland DeBlois , using a <br /> PowerPoint presentation, (copy on file) reviewed the memorandum of May 30 , 2006 . <br /> He advised that a creek runs through the property and there is an historic stilt house <br /> built approximately 1915 - 1920 and known as the " Stough House " . He explained the <br /> basis for the appraisals , the involvement of the Indian River Land Trust, and how the <br /> purchase price of $ 2 . 2 million was arrived at. Because the purchase price is actually <br /> 110 % of the County ' s appraisal , a super- majority vote for approval is necessary . The <br /> Land Acquisition Advisory Committee (LAAC) reviewed this purchase and voted 16 - 0 <br /> to recommend moving forward with the purchase at $ 2 . 2 million . Florida Community <br /> Trust application for 45 % funding has been sent and we should know in September if <br /> we will get that funding . This property has both environmental and historic value and <br /> serves the County ' s objective to preserve both . The County will manage the property <br /> with volunteers and staff to maintain it . He concluded his presentation advising that <br /> staff recommended approval of the purchase . <br /> The Chairman opened the public hearing . <br /> s <br /> June 6 , 2006 <br />