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calculated, the total amount of the FCT grant award that the County will receive for the Hallstrom Properties, Inc. and St. Lucie Development Corporation parcels is $1,232,373.00 Indian River County's total share of purchase costs is calculated to be $410,791.00, to be paid with county environmental land bond funds. Addendum I to Conceptual Approval Agreement The attached "Addendum I to Conceptual Approval Agreement" adjusts (increases) the dollar amount of the FCT grant award to reflect 75% of actual costs vs. 75% of estimated costs that v ere submitted with the original grant application. The original estimate of total costs in the grant application ($1,453,000.00) turned out to b e lower than actual total costs ($1,643,164.00). The FCT has agreed to increase its match to 75% of actual costs, to the benefit of the County. The Addendum formalizes FCT's agreement to increase its match. Summary The County's obligations under the FCT cost -share grant are consistent with the objectives of the County's environmental lands program. Since the County has committed, under its own objectives, to managing the properties for conservation with limited public access, it is staffs position that the Board should approve the herein described documents and proceed to obtain $1,232,373.00 from the FCT for the purchases. RECOMMENDATION: Staff recommends that the Board of County Commissioners approve the attached documents, and authorize the Board Chairman to execute the Grant Award Agreement, Purchaser's Reconciliation of Total Project Costs statements, and Addendum I to Conceptual Approval Agreement for purchase of the Hallstrom Farmstead parcels. Moreover staff recommends that the Board authorize county staff to take actions as necessary to finalize closing of the purchases in coordination with the FCT. ATTACHMENTS: 1. Maps of the Hallstrom Farmstead 2. Purchaser's Reconciliation of Total Project Costs statements 3. Grant Award Agreement 4. Addendum I to Conceptual Approval Agreement ON MOTION by Commissioner Adams, SECONDED BY Commissioner Ginn, the Board unanimously approved the proposed documents and authorized the Chairman to execute the Grant Award Agreement, Purchaser's Reconciliation of Total Project Costs statements, and Addendum I to Conceptual Approval Agreement for purchase of the Hallstrom Farmstead parcels, and further authorized staff to take actions as necessary to finalize the closing of the purchases in coordination with the FCT, as recommended in the memorandum. September 17, 2002 44