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Item L5a LAND AUTHORITY GOVERNING BOARD AGENDA ITEM SUMMARY Meeting Date: June 18, 2003 Bulk Item: Yes No X Department: Land Authority Agenda Item Wording: Approval to purchase property - Silver Lake Park subdivision. Item Background: This agenda item is proposed to protect property rights and natural resources. Silver Lake Park is a sparsely developed subdivision located at MM 100 on the oceanside of Key Largo zoned Improved Subdivision (IS). The lots in this subdivision would score poorly in ROGO due to the presence of tropical hardwood hammock and threatened/endangered animal species habitat. In order to protect the area's natural resources, staff recommends offering to purchase the vacant lots (approximately 45) in this subdivision. Land stewardship needs for this property are anticipated to be low. The Land Authority's standard purchase contract will be used for these transactions. The agenda packet spreadsheet lists the maximum costs in the event all the vacant lot owners wish to sell. The actual costs will depend upon the number of willing sellers. Advisory Committee Action: On April 24, 2003 the Advisory Committee voted 4/0 to approve making purchase offers of 115% of the 1996 assessed value for all vacant lots in the subdivision. Previous Governing Board Action: To date the Land Authority has not acquired any property in this subdivision. Contract/Agreement Changes: N/A Staff Recommendation: Approval. Total Cost: $ 325,0000 Budgeted: Yes ~ No Cost to Land Authority: $ 325,000 Source of Funds: Land Authority (Tourist Impact Tax and State Park Surcharge) Approved By: Attorney ~ County Land Steward L. ~~rn\:: Executive Director Approval: Documentation: Included: X To Follow: Not Required: Disposition: Agenda Item LA #5a Property Purchase Price Silver Lake Park Subdivision (PB 4-95) 27 Ownerships / 45 Lots $305,584.00 PURCHASE CONTRACTS 06/18/03 Envr Audit, Survey or Clean-up Title Insurance $7,000.00 $5,504.00 1 of 1 Attorney Fee $6,750.00 Recording Fee $162.00 Acquisition Total $325,000.00 OO~ -~ <(~~ , 0.. <( ~ 00 ~5 O~ o <(z Q~ C::z 0- ...J<( u.~ D Oz ~<( ~o <(0 ~ ~ J . ~ o:~ Oal it W al C::~ w:::> 0..0 ~~() ~ Q '~ I .. " · ,,,'. "~~/"'J ~ ... " '.'. - .. ~ v ,~ l. "'. ' <"1'" '. '.'" .....,. _'~ r ..:,. .."" ~.,\'''' ,,,'~ ','. " .', ...... , Ir~ '. ~ ....-- · '. i) '" '. 17 ~ '. .'. . ~ ~4i ~... '. ~ ..- ..... · ~ ~, ,<<ll'll: J<..'. ..~ · ~'. ." ~ .... ~ .X~ 'l,., - .'...., ~'I! ,'\...~ ' I. "" ~.... ~. . 0I;.:&l '" --;..j~'" '.., ~ =... '" 'i:)' .... · 01;. "... , ~ '# ""~"" "... " ~O\" '.... ...... .. '\0"" ... -~~ ','. . #. .>. ~ " "" II~i':" '., '. .... ~. ., -= '" 1.,.#. .., .. ~ .. u "v. ... ... O' -'.. '#~ '......> +: ~Ib ,'...... ".... .. 0I;.~ 'II" 27 .....:,. ~ · ~-;; '. '. ,,,.... '. ~... I-- ... '-#. " I' ".,.:,. '\0 I-- ... '"'''' I. ~ ao '..... ,-" '" ~ ... ~ ,.," ., l-- f'" .., '- ... ~ .... .... .... sa ... '. .... l-- '- ~ M ".... ~ .... ". - ., .", ~ ~ ., ....., '.- ~ -- M l-- . .. #.,. ." .... ~ .... ~ . '. " '. '" '. '., ,~ '. / ...... ~... ~Oi ..'II ~ 'II" fill ~.. O' 0'" ~ ". ao v .. +0' ./ ~/"" : ~ c .. / ~sc - MAGNOLIA 8TR/l;IET I .~CUOO ~Cf<i E/At HIII18CU8 8TRlflET Vv. ~ I I @~~~~ - ,. " ~~~v ~~\\\17 t - 'E 'J!, 11 -=..J . - . - 7 . " ,l.!.. ~AIICI!I. A fI "Allea. . '" , . ~,\. I ~ . .. 4T. . t ~ , ~ '!!! ,_ ,..---."DI~A~E!!-~aYJL___ ,............ c-!- 11 ~ : ,...; 1J1r~ ~I I!: ~ ~ ~ . /!If-- I 1- 11 ,. I -. "~ ~-.-~~~ -;- 'a - 11- - 1 11- 11 . - 4 111-- -. '-- I I '-- ,. I 1. - 11 · -. 171-- -. f--. . 1- 17 - -. 17 - 17 ......!- -;;' ""8..~ M' . - 7 ,.1-- - 7 -- 7 -- ,. 7 " - ,. . -. 141-- -. r--- . 14- -. 14- ,.- 1. -. 1. - 1--- . f.-- . -- 1. r- -. I. - ,.- 11 ....- 1. 111-.. I-- Ie f.-- ,. -;;- '1:';; -; 10 11 -;; 1.-;; ....-/ '-......-' ,-l~ ,_ __ '--.....-' . 4 . . . 7 . ,. . 1 . . . ,. . " 14 ,. 11 17 ,. 11 .. .Jt GLIENDALE DIIlI ,~\~" . 7 . "'~~ 1 . 1 ~ --1--- .7. . . 11 1. '~ -#' ,: 11 17 11 ~""tIIL YIERLAC(IE DIlUYlE 11 .. 7 . - . I-- ,. I-- ~., 1. . - ~ ~ . I 1 . 1 ~"'l~ ~ 11 1. .1' 17 11 11 .. @C~&INI-I!)~DV Island Key Largo Mile Marker 100.1 1. .. 4 11 SR ~@ . . : . . I . 4 t 4 NANCY ~ . . ~ ~@ i\\~ -\$\\ ~ . - . , . 7 - . I ~/ ..!- -A' ~ I ~A ;:: : -r' 17/0 I~ 0 ( KEY LARGO Property Silver Lake Park (PH 4-95)