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Site Characteristics <br />The following table summarizes the characteristics of the two ownerships within the Hallstrom Fat instead <br />project. <br />Property <br />Size (Acres) <br />Zoning <br />Tax Assessed Value <br />Environmental <br />Characteristics <br />Hallstrom Properties, <br />Inc. (portions of two tax <br />parcels) <br />60.37 <br />46.73 acres: RS -6 <br />Single -Family <br />Residential (6 units/ac) <br />13.64 acres: CH Heavy <br />Commercial (east of Old <br />Dixie) <br />$954,440 (includes <br />portions of tax parcels <br />east of railroad tracks <br />that are not part of the <br />I,AAC project) <br />West of Old Dixie: "old <br />field" and old grove with <br />exotics and some native <br />scrub vegetation. <br />East of Old Dixie: <br />Upland hammock w/ <br />some exotics, —8 acre <br />forested wetland along <br />east boundary (near <br />railroad tracks). Also <br />contains historic <br />structures of the <br />Hallstrom Farmstead. <br />St. Lucie Development <br />Corporation (one tax <br />parcel) <br />32.81 <br />RS -6 Single -Family <br />Residential (6 units/ac) <br />$128,290 <br />Sand pine scrub adjacent <br />to canal, open sand area, <br />some off-road vehicle <br />disturbance. <br />TOTAL <br />93.18 acres <br />N/A <br />$1,082,730 <br />N/A <br />Acquisition Cost -Share & Property Management <br />Two issues that are important to staff with respect to all proposed purchases are obtaining cost -share <br />assistance in property acquisition and addressing management costs. <br />• Cost -Share <br />Indian River County has been awarded a grant from the Florida Communities Trust for 75% cost -share <br />funding, including 75% of pre-acquisition expenditures (e.g survey, environmental audit, appraisals) <br />• Management <br />A Conceptual Management Plan has been drafted in fulfillment of FCT requirements (see attached). The <br />proposed use of the property is resource enhancement and management by means of exotic species removal <br />and native plant community restoration, with compatible passive recreation facilities in the form of nature <br />trails and informational displays. .Another main aspect of the plan, relating to the historic/cultural resources <br />of the property, is coordinated management between the County and the Indian River County Historical <br />Society. As presented in the management plan, the County will work in partnership with the Historical <br />Society to combine natural resource enhancement with cultural resource preservation and educational <br />programs. Table 1 on Page 24 of the draft management plan summaries estimated costs and funding relating <br />to management of the property (see Attachment # 2). <br />Appraisals <br />In accordance with the County Land Acquisition Guide and FCT procedures, two independent appraisals <br />were obtained to determine an "approved appraised value" for each of the two ownerships in the project. <br />Armfield-Wagner Appraisal & Research, Inc. and Wmgo & Associates, Inc. conducted the appraisals. The <br />appraised values and negotiated purchase prices for the parcels are summarized as follows. <br />JULY 16, 2002 <br />-22- <br />