HomeMy WebLinkAbout2000-094•
C7
• Indian River County
Oslo Riverfront South
FCT Project #99-055-P9A
Purchase from Emerson Estate
Contract #00 -CT -C7 -99 -9A -K2-055
Date
PURCHASER'S RECONCILIATION OF TOTAL PROJECT COSTS
TOTAL PR=QT COSTS
Land Purchase Price
Total Land Purchase Price $ 310,000.00(1)
Acquisition Expenses
Wetlands delineation $1,960.00
Survey 2-O00.00(2)
Total Acquisition Expenses $ x,960.00(3)
Total Project Costs $ 'Z13.960.00
COMPUTATION OF GRANT
FCT Award Computation
Share of Purchase Price $ 155,000.00(1)
Share of Acquisition Expenses 1,980.m
Total Share of Project Costs $ 156,980.00(4)
Local Match Computation
Share of Purchase Price $ 155,000.00
Share of Acquisition Expenses 1 980.00
Total Share of Project Costs $ 156 980.00
Total Project Costa $ 111-960.00
COMPIITAh OF PRE_PA rnS RFTMBIIRSFT.TFh S ADDTTTONAT COSTS Al AMODN'PS DIIE AT CLOSING
FLORIDA COMMUNITIES TRUST
FCT Amount Due At Closing
Share of Total Project Costs
Total Amount Due From FCT At Closing
INDIAN RIVER COUNTY
County Prepaid Project Coats
Option Payment $ 100.00
Wetlands delineation 1,960.00
Survey 2,000.00
Total Prepaid Costs $ 4,060.00
County Amount Due At Closing
Share of Total Project Costs
Less Total Prepaid Costs
Total Amount Due From County
TOTAL AMOUNT DDE FROM PURCHASERS AT CLOSING
S 1156 980.00
$ 156,980.00
$ 156,980.00
4 060.00
9 152,_320.0 0
$ 109.900.00
40
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IIndian River County
Oslo Riverfront South
FCT Project #99-055-P9A
Purchase from Emerson Estate
Contract #00 -CT -C7 -99 -9A -K2-055
Date
®
Page 2
Notes:
(1) Pursuant to memorandum from Henry Entreken to Caroline Sutton dated February 11, 2000,
the Maximum Approved Purchase Price is $310,000.00.
(2) The County paid the cost of the survey update up to a maximum of $2,000.00 and the
Seller paid the balance of the survey cost.
(3) Cost for appraisal, appraisal review, real estate fee, and environmental site assessment
recognized on Salama Development closing. Pursuant to the terms of the option agreement, the
Seller paid the cost of title insurance.
(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 Name Closed Total Project Costs
Salama Development $ 598,496.15
Emerson Estate 156,980.00
Diamond
Total to Date
$ 755,476.15
The foregoing reconciliation of Purchasers' costs is hereby approved by the undersigned.
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY
Fran B. Adams, Chairman
Date: April 4, 2000
( i l
AoS I • V.+'JI•: 17 r.I I J�(�•. L:i
FLORIDA COMMUNITIES TRUST
Ralph Cantral
Acting Executive Director
Date: