HomeMy WebLinkAbout2003-191A k
Vero Beach
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City Town of Indian River Shores and Ciy oer
Local Government Name: Indian River County,
Project Name: Lost Tree Island
FCT Project M 01454-FF1
Date:
GRANT AWARD CALCULATION
TOTAL PROJECT COSTS
Land Purchase Price
Lost Tree Parcel 15, 105,000.00 (1 )
Total Land Purchase Price $ 15, 105,000.00
Acquisition Expenses
Survey $ 65,000.00
Appraisals 359500.00
Title Insurance 363935.00
Appraisal Review 2,500.00
Environmental Audit 4,068.00
Real Estate Consulting Fees 75,000.00
Total Acquisition Expenses 219,003.00
$ 15,3241003.00
Total Project Costs
COMPUTATION OF GRANT AWARD AND LOCAL MATCH AMOUNT
FCT Award Computation
Share of Purchase Price $ 51130 ,000.00
Share of Acquisition Expenses 164,252.25
Total Share of Project Costs $ 5,294,252.24 (2)
Indian River County
Share of Purchase Price $ 90975,000 .00
Share of Acquisition Expenses 54,750.75
Total Share of Project Costs 10 ,029 ,750 .76
$ 15,324,003.00
Total Project Costs
COMPUTATION OF PREPAIDSo REIMBURSEMENTS AND ADDITIONAL COSTS
FLORIDA COMMUNITIES TRUST
FCT Prepaid Project Costs
Appraisal Review $ 2 ,500.00
Total Prepaid Costs 21500 .00
FCT Amount Due at Closing $ 5,294,252.24
Share of Total Project Costs
Less Total Prepaid Costs 2'500'00
Total Amount Due From FCT $ 5,291 ,752.24
4
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Indian River County, Town of Indian Rarer Shores and City of Vero Beach
Lost Tree Island
FCT Project * 01454-FF1
Date:
Page 2
INDIAN RIVER COUNTY
County Prepaid Costs
Land Purchase Price $ 15, 1050000.00
Survey 65,000.00
Title Insurance 36,935.00
Appraisals 359500.00
Environmental Audit 41068.00
Real Estate Consulting Fees 75,000.00
Total Prepaid Costs $ 15,321 ,503.00
County Amount Due
Share of Total Project Costs $ 10,0290750.76
Less Prepaids 151321 ,503.00
Total Amount Due to County $ 5,291 ,752 . 24
County Additional Costs
Record Grant Award Agreement $ 64.50 (3)
Total Additional Costs 64.50
Notes :
( 1 ) The Property was purchased on February 5, 2003, at a purchase price of $ 15, 105,000.00. Pursuant to a memorandum dated June
from Caroline Sutton to C. Erica White, the Maximum Approved Purchase Price is $6,840,000 .00. The FCT Reimbursement is ba
Maximum Approved Purchase Price as it is less than the Purchase Price.
(2) Pursuant to the terms of the Conceptual Approval Agreement, as amended, the amount of the grant shall not exceed the lesser of
$5,500 ,000 .00 or 75% of the total project cost.
(3) Payable to Clerk of Court, Indian River County, at closing.
INDIAN RIVE OUNTY
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