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the offer has been on the table for the last year; Mr. Bayer has made it clear there will be no <br />negotiations until he is brought an offer signed by each local government. This will let the <br />talking begin, but $15,000,000 is what has been on the table for the past year. Either he will <br />take it or not. <br />Mr. Sexton explained the benefits that will accrue to Lost Tree Village Corporation <br />resulting from the involuntary conversion. <br />There was discussion as to the veracity of the language. <br />Assistant Administrator Baird specified that the offer to purchase just says we have <br />the power; it does not say we will do it. <br />Mr. Sexton commented that the ultimate burden will be on Lost Tree Village <br />Corporation to prove any tax consequences to the IRS. <br />Mr. Lee advised that the language read by Deputy County Attorney Collins is <br />virtually ubiquitous and is used in every land acquisition contract from the State Department <br />of Environmental Protection and other agencies to buy land. The I.R.S. Code allows the <br />asset to be rolled over and the funds re -invested. It is used throughout the State in land <br />acquisition processes and is very close to "boiler plate." It has been used from Key West to <br />Pensacola in acquiring property since the early 1980's. <br />Discussion ensued on the issues and a language change suggested by County <br />Attorney Bangel which was not made. <br />Commissioner Macht called the question. <br />Vice Chairman Tippin commented they cannot predict what a future Board of County <br />Commissioners will do. The County does have the condemnation power and he thought the <br />Board should proceed. <br />September 3, 2002 <br />