Laserfiche WebLink
IV <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 CERTIFY THAT THIS IS <br />A TRITE AND CORRECT COPY OF <br />'rs.IE ORIGINAL ON FILE IN THIS <br />0FFICE <br />S FFREY K. BARTON, CLERK <br />BY <br />