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Item C2d LAND AUTHORITY GOVERNING BOARD AGENDA ITEM SUMMARY Meeting Date: October 19, 2000 Bulk Item: Yes No X Department: Land Authority Agenda Item Wording: Approval of contracts to purchase property - Cutthroat Harbor Estates. Item Background: These purchases are proposed to protect property rights and natural resources. Part of Cutthroat Harbor Estates on Cudjoe Key is zoned Native Area (NA) and designated Residential Conservation (RC) on the Future Land Use Map. Individual lots in this area are too small to meet the four-acre minimum necessary to build a single-family home. This area is located in the National Key Deer Refuge and provides habitat for the endangered silver rice rat. The vegetation in this subdivision consists of low hammock, freshwater wetlands, salt marsh and buttonwood wetlands, and mangrove wetlands. Any residential development in this area would be subject to ROGO. Funding for this purchase will come from the State's Preservation 2000 program, which will restrict future use of the property to conservation and public recreation. The. Land Authority's standard purchase contract will be used. The property's current assessed value is $50. The agenda packet spreadsheet lists the legal description, purchase price, and closing costs for these transactions. Advisory Committee Action: On 9/27/00 the Advisory Committee voted 5/0 to approve a purchase offer of 115% of the 1986 assessed value for any property in Blocks 1 through 6 of Cutthroat Harbor Estates. Previous Governing Board Action: The Governing Board has approved other purchases in this subdivision. Staff Recommendation: Approval. Total Cost: $ 7,260.00 Budgeted: Yes X No Cost to land Authority: $ 7,260.00. 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