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COST -SHARE AGENCY Conservation and Recreation Lands Program (CARL) Florida Communities Trust (FCT) J.AAC PROJECT Archie Carr (overall) Disney Property (Archie Carr boundary amend.) Winter Beach Marsh (IRL Blueway) Hoffman property (IRL Blueway) Morgan's Impoundment (IRL Blueway) Padgett Branch ("Kissimmee - St. Johns River Connector") Wabasso Scrub Addition (inactive) Oslo Riverfront South (Diamond) (inactive) Oyster Bar Salt Marsh (Lee Addition) COST -SHARE AGENCY J 4 %C PROJECT FCT (continued from previous page) Simonye NSCA Addition ORCA South Link Indian River Farms (Cann') Lost Tree Islands Hallstrom Farmstead Other PINWR Buffer (Conservation Fund' USFWS) )f the projects listed as having FCT as their anticipated funding source, the inactive "Wabasso Scrub Addition" and Oslo Riverfront South (Diamond)" properties already have approved FCT cost -share grants. although those grants are bout to expire. The Lost Tree Islands project had a previously approved FCT grant, but that grant has expired. Although he Lost Tree Island grant has expired, the County has the opportunity to resubmit the project under a new FCT tpplication. The remainder of the County LAAC sites listed under FCT are eligible for applications under the current 1001 FCT cycle. .AAC Recommendation Jn July 25, 2001, the LAAC voted to recommend that the Board authorize applications under the FCT current cycle hr the following projects: • Oyster Bar Lee Addition • ORCA South Link • Hallstrom Farmstead • Indian River Farms (Canty) This list of projects, with the exception of the Indian River Farms (Canty ) project, reflects staffs recommendation to the LAAC at the July 25 LAAC meeting. It is important to note, however, that at the July LAAC meeting a new acquisition proposal for the Lost Tree Islands was also discussed (see attached unapproved nunutes ). The new Lost Tree acquisition proposal contemplates County application to the State for S4 million (or more) toward the project. At the July LAAC meeting, it was undetermined as to which state funding program would be the most appropriate for the County to pursue to obtain cost share funding for the Lost Tree Islands proposal. County staff has since concluded that FCT is the most appropriate state program for such funds. This conclusion affects and changes staff recommendation as to which projects should be submitted for cost -share funding under the current FCT cycle, as further explained herein. Lost Tree Islands The Lost Tree Islands proposal, as reported to the LAAC, entails a payment of S15 million to Lost Tree Village Corporation (LTVC) for what is known as the Lost Trees Islands, but also including "McCuller's Point." "South Sister Island." "Hole -in -the -Wall Island," and LTVC ownership on south "Pine Island." The combined land area is estimated to be —950 acres (-350 acres of upland, -600 acres of wetlands and submerged lands). Under the proposal. the County would commit to expending 58 million of county bond funds toward the acquisition and would apply for S4 million or more in state funding. The remaining funding needs toward the 515 million would come from the City of Vero Beach and the Town of Indian River Shores. As expressed at the LAAC meeting, there were indications that LT\ C would "carefully consider' the proposal. Other than what was presented at the LAAC meeting, however, county staff has not confirmed LT% C acceptance of the proposal in concept or otherwise. With that m mind. the LAAC voted to support the proposal and to recommend that the Board reserve S8 million in bond funds for the project, but conditioned that SS million reservation upon a purchase agreement being reached between LTVC and the County within 90 days (bv October 25, 2001). AUGUST 7, 2001 -61- NI\ IISP 075