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Item F2e LAND AUTHORITY GOVERNING BOARD AGENDA ITEM SUMMARY Meeting Date: March 19, 2014 Division: Land Authority Bulk Item: Yes No X Contact/ Phone #: Mark Rosch /295-5180 Agenda Item Wording: Approval of contracts to purchase property for conservation - Block 7, Lot 1, Port Pine Heights, Big Pine Key. Item Background: This acquisition is proposed to protect property rights and the natural environment and to provide mitigation land in support of the Big Pine Key Habitat Conservation Plan. Port Pine Heights is one of the northernmost subdivisions on Big Pine Key. Each vehicular round-trip from this subdivision to the US 1 commercial district involves driving eight miles through Key Deer habitat. The subject property consists of a 7,963 square foot canal lot at the corner of Kyle Boulevard and Joyce Road on the bay side of Big Pine Key near mile marker 30. The property has a tier designation of Tier 1 — Natural Area and a zoning designation of Improved Subdivision with an overlay of Area of Critical County Concern. The property is mowed with some tropical hardwood hammock trees present. The Southeast Florida Regional Climate Change Compact 50-year sea level rise projection is 9 to 24 inches by the year 2060. In the event of a 24-inch increase in sea level, estimates provided by the South Florida Water Management District indicate approximately three-quarters of this property will have a 25.1% to 74.9% probability of being inundated. The stewardship requirements for this property may include periodic trimming of vegetation to maintain navigation along the canal. The owner has agreed to sell the property for $31,183. The estimated closing costs for this transaction are listed in the agenda documentation. Advisory Committee Action: On February 26, 2014 the Committee voted 4/0 to approve purchasing this property for the price of$31,183. Previous Governing Board Action: The Board has approved the purchase of other conservation properties in this subdivision. Contract/Agreement Changes: N/A Staff Recommendation: Approval Total Cost: $ 32,135.50 Indirect Cost: $ Budgeted: Yes X No Cost to Land Authority: $ 32,135.50 Source of Funds: Land Authority (Tourist Impact Tax and State Park Surcharge) Approved By: Attorney X County Land Steward X . Documentation: Included: X To Follow: Not Required: Disposition: Agenda Item PURCHASE CONTRACT 03/19/14 Purchase Title Fees& Attorney Recording Total Property Price Survey Insurance Fee Fee Costs Port Pine Heights $31,183.00 N/A $559.00 $375.00 $18.50 $32,135.50 Block 7, Lot 1 Seller: Terry Sengelmann