Item E2c
LAND AUTHORITY GOVERNING BOARD
AGENDA ITEM SUMMARY
Meeting Date: March 20, 2002
Bulk Item: Yes No X
Department: Land Authority
Agenda Item Wording: Approval to purchase property with Preservation 2000 funds - Upper
Matecumbe acreage (Teatable Hammock CARL site).
Item Background: This item is proposed to protect property rights and natural resources and to
acquire property in CARL projects in accordance with the Comprehensive Plan Work Program.
The Teatable Hammock CARL site consists of 125 acres of tropical hardwood hammock and
mangroves on the bays ide of Upper Matecumbe Key at MM 80. This property includes an
archeological site and is Islamorada's highest priority among those properties nominated by the Village.
The purchase of this property, together with the others made to date, will satisfy the County
Commission's commitment to spend $2,341,000 on the purchase of land in Islamorada. Following
acquisition, staff recommends conveying the property to the State for management under the CARL
program.
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. Under the proposed contract, the
Seller will retain an easement for access to his remaining property and will grant to the Land Authority
an easement over the canal. The agenda packet spreadsheet lists the legal description, purchase
price, and closing costs for this transaction.
Advisory Committee Action: On 2/19/02 the Advisory Committee voted 5/0 to approve this purchase,
which is less than 115% of the property's 1986 assessed value.
Previous Governing Board Action: None
Contract/Agreement Changes: NIA
Staff Recommendation: Approval
Total Cost: $ 2,123,431.00
Budgeted: Yes X
No
Cost to Land Authority: $ 2,123,431.00
Approved By: Attorney X OMB/Purc~
Executive Director Approval: ~. \
\ C&1ark J. Rosch
Risk Management
Documentation: Included: X
To Follow:
Not Required:
Disposition:
Agenda Item LA #2c
Purchase
Property Price
Upper Matecumbe Acreage
RE# 00096840, 00096850, $2,100,000.00
00096860, 00096870, 00096880,
00096890 and 00096910
(Choate)
PURCHASE CONTRACTS
03/20/02
Envr. Audit, Survey
or Clean-up
$5,000.00
1 of 1
Title
Insurance
$7,925.00
Attorney
Fee
$10,500.00
Recording
Fee
$6.00
Acquisition
Total
$2,123,431.00
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