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Indian River County
Oslo Riverfront South
FCT Project #99-055-P9A
Purchase from Salama Development Corp.
Contract #00 -CT -C7 -99 -9A -K1-055
Date
PURCHASER'S RECONCILIATION OF TOTAL PROJECT COSTS
TOTAi• CT—CD =
Land Purchase Price
Total Land Purchase Price $1,265,000.00(1)
Acquisition Expenses
Survey $ 2,800.00
Appraisals 16,565.00(2)
Appraisal Review 2,489.80(2)
Real Estate Fee 17,000.00(3)
Title Insurance 5,737.50
Environmental Audit 2.400.00(3L
Total Acquisition Expenses $ 46.992.30
Total Project Costs
r Tnh ^fl GRANT AWARD A2IIZ r nCLi. MATCH AMOIIIdT
FCT Award Computation
Share of Purchase Price $ 575,000.00(1)
Share of Acquisition Expenses 23 496.15
Total Share of Project Costs $ 598,496.15(4)
Local Match Computation
Share of Purchase Price $ 690,000.00
Share of Acquisition Expenses 73 496.15
Total Share of Project Costs ,S 773 496.15
Total Project Costs $1.311.992.30
�OhiPIITATTOh OF PRFPATDG RFTMBIIRGFME*TT'i ADDTTTOI.AL COSTS A2.'D AMOT7NTG DII8 AT CLQGI115
FLORIDA COMMUNITIES TRUST
FCT Prepaid Project Costs
Appraisal Review S 2,489.80
Total Prepaid Costs $ 2,489.80
FCT Amount Due At Closing
Share of Total Project Costs $ 598,496.15
Less Total Prepaid Costs 2,489.80
Total Amount Due From FCT At Closing $ 596,006.35
INDIAN RIVER COUNTY
County Prepaid Project Costs
Option Payment $ 100.00
Survey 2,800.00
Appraisals 16,565.00
Real Estate Fee 17,000.00
Title Insurance 5,737.50
Environmental Audit
Total Prepaid Costs $ 44,602.50
Indian River County
Oslo Riverfront South
FCV Project #99-055-P9A
Purchase from Salama Development Corp.
Contract #00 -CT -C7 -99 -9A -K1-055
Date
Page 2
Additional Costa
Record Grant Award Agreement $ 55.,;o
Total Additional Costs $ 55.50(5)
County Amount Due At Closing
Share of Total Project Costs $ 713,496.15
Plus Total Additional Costs 55.50
Less Total Prepaid Project Costs 44.602.50
Total Amount Due From County 4 668.949.15
TOTAL AMOUNT DUE FROM PURCHASERS AT CLOSING $1.264.955.50
Notes:
(1) Pursuant to memorandum from Henry Entreken to Caroline Sutton dated February 11, 2000,
the Maximum Approved Purchase Price is $1,150,000.00. FCT's share of the purchase price is
50% of the Maximum Approved Purchase Price. The County's share is the balance of the
purchase price.
(2) Cost for all parcels in project site.
(3) Cost includes both Salama and Emerson parcels.
(4) Pursuant to the terms of the Conceptual Approval Agreement, as approved by Board action
of the Florida Communities Trust, the amount of the grant shall not exceed the lesser of
$872,500.00 or 50% of the total project cost. Total FCT share of project costs to date are
as follows:
Parcel Seller Date FCT Share of
Number Nmp Closed Total Project Costs
Salama Development $ 598,496.15
Emerson Estate 156,980.00
Diamond
Total to Date $ 755,476.15
(5) Payable to Clerk of Court, Indian River County, at closing.
The foregoing reconciliation of Purchasers' costs is hereby approved by the undersigned.
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVERCOUNTY FLORIDA COMMUNITIES TRUST
��By:n'L 8 l &n'_K_ )
Fran B. Adams, Chairman Ralph Cantral
Acting Executive Director
Date: --April 4- 2000 Date: