Laserfiche WebLink
V- <br />F <br />9.C. PUBLIC NOTICE ITEM - SCHEDULED FOR PUBLIC HEARING <br />JULY 16, 2002 - CONSIDERATION OF OPTION AGREEMENTS FOR <br />SALE AND PURCHASE OF THE HALLSTROM PROPERTIES, INC., <br />AND ST. LUCIE DEVELOPMENT CORPORATION PARCELS OF THE <br />HALLSTROM FARMSTEAD SITE (Legislative) <br />Chairman Stanbridge announced the hearing as above. <br />11.G.1. COUNTY ROAD 512 - PHASE III - DENTON RIGHT-OF- <br />WAY ACQUISITION (INITIATION OF EMINENT DOMAIN) <br />Public Works Director James Davis reviewed a Memorandum of June 10, 2002 <br />showing a site drawing on the overhead (similar to page 111 of the backup). <br />TO: <br />THROUGH: <br />James E. Chandler, County Administrator <br />James W. Davis, P.E., Public Works Directs <br />AND <br />Christopher J. Kafer, Jr , P E , County Engine <br />FROM: Ronald L Callahan, Right -of -Way Agent / 4 C_. <br />SUBJECT: County Road 512/Phase III/Denton Right -of -Way Acquisition <br />DATE: <br />June 10, 2002 <br />DESCRIPTION: <br />In February, 2000, Indian River County began the acquisition process on the Robert Denton, Jr. <br />parcel, which comprises 15.01 acres abutting south prong of the St. Sebastian River, south of CR <br />512 and east of the south prong of the St. Sebastian River bridge. The purpose of the acquisition <br />is to provide a water retention pond and mitigation sufficient to meet current requirements based <br />on the design of CR 512. The acquisition of the Denton parcel has been determined to be <br />essential to the implementation of Phase 111 of the CR 512 widening project. Several alternatives <br />were presented and researched by Masteller and Moler, Inc., the design -engineering firm, and the <br />County engineering staff. None were considered feasible. <br />BACKGROUND: <br />Mr. Denton purchased the subject property in 1996 for $275,000.00. Mr. Denton bought the <br />property with a ten-year holding period in mind. He is of the opinion that the value of this <br />property in 2006 will far exceed anyone's expectations. In February of 2000, the County made <br />the initial written offer of $299,545.00. This figure was not acceptable to Mr. Denton who <br />countered the offer in March, 2000, at $593,290.00. Subsequently in July, 2000, Boyle and <br />Drake, Inc. a local appraisal fine, which Mr. Denton selected, but contracted by the County <br />July 9, 2002 <br />50 <br />