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'v <br /> RESOLUTION NO , 2007- 025 <br /> A RESOLUTION OF THE BOARD OF CONY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY, <br /> FLORIDA, AUTHORIZING THE CHAIRMAN TO <br /> EXECUTE JOINT PARTICIPATION AGREEMENTS WITH <br /> THE FLORIDA DEPARTMENT OF TRANSPORTATION <br /> TO ADVANCE CONSTRUCTION OF SEGMENTS OF <br /> STATE ROAD 60 <br /> WHEREAS , the anticipated transportation demands on State Road 60 from 66th Avenue <br /> to 82nd Avenue and from 82nd Avenue to I- 95 (the Segments) will exceed the level of service <br /> established in the Comprehensive Plan ; and <br /> WHEREAS , if improvements are not made to the Segments , and traffic exceeds the level <br /> of service , applications for New Development would be denied as they would not meet the <br /> requirements of the Concurrency Management System ; and <br /> WHEREAS , improvement to the Segments will eliminate existing deficiencies and <br /> create new capacity on the Segments ; and <br /> WHEREAS, in order for the Segments to meet the requirements of the Concurrency <br /> Management System, the improvements must appear in the first three years of the Florida <br /> Department of Transportation ' s work plan; and <br /> WHEREAS, in order for the improvements to the Segments to appear in the first three <br /> years of the FDOT work plan, the County must supply the funding to FDOT; and <br /> WHEREAS , the County, by resolution, has determined to agree with the Florida <br /> Department of Transportation to enter into Advance Construction Agreements providing for the <br /> advance construction of the Segment Improvements conditioned upon the advancement of their <br /> cost of construction by the County ; and <br /> WHEREAS , the Advance Construction Agreements will provide for reimbursement to <br /> the County from available State and Federal Funds of the principal amount advanced but do not <br /> provide or allow for any reimbursement to the County for the Interest Component; and <br /> WHEREAS , the County and FDOT have agreed to enter into a Joint Participation <br /> Agreement for advancing construction of SR 60 , whereby construction funding of approximately <br /> $ 38 Million will be advanced by Indian River County in 2007/08 , and an additional $ 30 million <br /> will be advanced by Indian River County in 2008/09 ; <br /> STATE OF FLORIDA <br /> INDIAN RIVER COUNTY <br /> THIS IS g0 CER14IFY THAT THIS IS <br /> A TRITE AND CORRECT COPY OF <br /> Ti-Ir. ORIGINAL ON FILE IN THIS <br /> OFFICE 4 <br /> S FFREY K . BARTON , CLERK <br /> BY <br /> - <br /> DATE <br />