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• Assuming that the new Lost Tree proposal is viable. staffs position is that the FCT program is the best opportunity for ,Late tundtnu for the prosect. Staffs position is that the Count should apply for S=.5 million to FCT funds. for the Lost 1 ree prosect. which would leave S1.1 million in potentially available FCT cost -share funds for other count protects (i.e.. the Hallstrom Farmsteadiunder the current cycle. Hallstrom Farmstead Last year. the Indian River Historical Society acquired I via a donanoni a historic house at 1723 Old Dixie Highway SE. including the five acres on which the house is located Isee attached map). The house built by Axel Hallstrom in the early 1900s. has been nominated for listing on the Nanonal Historic Register. The original Hallstrom farmstead included land extending beyond the five acres that the Historical Society now owns. The extended land area is still undeveloped and is up for sale. The Histoncal Society is seekmg to preserve the extended area by sponsonng an application to the Florida Communines Trust (FCT) for a cost -share grant to acquire the property. New this year. the FCT now allows non-profit organizanons. in addition to local governments. to apply for FCT grants. The Histoncal Society has a certam amount of funds available to use as a match for an FCT application. However, m order to strengthen the application. the Histoncal Society has requested that the County be a cosponsor of the application. including contributing toward the match. To that end. the Hallstrom farmstead acquisition proposal was considered by the LAAC at its meenng on July 25. 2001. The proposed acquisinon consists of three parcels (see attached map) totaling —94 acres. Of the three parcels "Parcel Three" (-32.81 acres) consists of environmentally significant sand pine scrub adjacent to Lateral J Canal. On July 25, the LAAC voted to add Parcel Three to the LAAC site acquisition list as an "emergency acquisition." in accordance with procedures in the County Land Acquisition Guide. Moreover. the LAAC voted to recommend that the Board agree to cosponsor the Indian River Histoncal Society's FCT application for the Hallstrom Farmstead acquisition project, with the County's contribution toward cost -share of the project tieing purchase of Parcel Three (ballpark—S200.000). The total cost estimate for the total —94 acres is 31.45 million. including acquisition costs (i.e., survey. appraisals. etc.). FCT requires that applicant(s) provide at least 25% match. unless the local government has a populanon of Tess than 10,000, which is not the case here. As such. the Hallstrom Farmstead proposal is for the County and Historical Society to jointly provide a 25% match and seek 75% funding from the FCT (—$1.1 million). Other Projects As previously indicated, the LAAC voted on July 25 to recommend that the County apply for FCT funding for other LAAC sites: "Oyster Bar Lee Addition" (-15 acres); "ORCA South Link" (-7 acres); and " Indian River Farms/Canty" (-200 acres). That recommendation, however, was without consideranon that state funding for the Lost Tree proposal would come from this FCT cycle. Staffs position is that, if the Lost Tree proposal is submitted for FCT funding, then the number of projects be limited to the Lost Tree and Hallstrom Farmstead projects. for the following reasons: the Lost Tree Islands proposal is relatively complicated and an application to FCT takes substantial staff time. so much so that staff does not have time to prepare five applications by the August 13 application deadline. The Historical Society is assist -mg with preparanon of the Hallstrom Farmstead application, so that application is near completion. • The Lost Tree proposal and Hallstrom Farmstead applications will effectively use up the potentially available funds under the current cycle. • The Oyster Bar Lee Addition and the ORCA South Link are relatively small projects. and the County has the opportunity to apply for reimbursement funds under a future FCT cycle if a purchase agreement is ionhcomine in the meantime. Staff does not support subm:rtai of the in itan River Farms, Canty project under the current FCT cycle due to an ownership dispute that is currently in coup that will not likely be resolved within the time frames of this FCT grant cycle. RFCOMMENI) &TION Staff recommends that the Board of County Commissioners authonze staff to submit the Lost Tree Islands project ($5.5 million grant, $8 million county match) and the Hallstrom Farmstead project ($1.1 million grant. —$200.000 county match) for cost -share funding under the FCT 2001 grant cycle. ATTACHNTEN'TS • Maps of the Hallstrom Farmstead and the Lost Tree Village Corporation ownership proposed for FCT funding application AUGUST 7, 2001 BK I19FGO7G -62-