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MEMORANDUM OF UNDERSTANDING Between Indian River County And The Vero Lakes Estates Property Owners Association Regarding North County Elementary School And County Road 510 Indian River County, a political subdivision of the State of Florida, hereafter referred to as "COUNTY", has ownership and maintenance jurisdiction of an arterial roadway known as County Road 510 (CR 510) (aka Wabasso Road, aka 85th Street) between County Road 512 and U.S. Highway 1 in north Indian River County. The School District of Indian River County, hereafter referred to as "SCHOOL DISTRICT", recently purchased an approximate 30 acre site located just southeast of an existing small radius horizontal circular curve along the COUNTY'S CR 510 for the purpose of constructing and operating a North County Elementary School. Construction of the school must begin as soon as possible so it can open in the Fall of 2002. The school site has frontage on CR 510 only, and a safe access plan to CR 510 must be developed. West of the school site is a large residential subdivision named Vero Lakes Estates Subdivision that contains over 9,000 platted lots. Many property owners of Vero Lakes Estates Subdivision have joined a Property Owners Association called the "Vero Lakes Estates Property Owners Association", hereafter referred to as "VLEPOA". Some students who reside in Vero Lakes Estates will attend the new school and need safe access to the school. For many years, the COUNTY, SCHOOL DISTRICT, and the VLEPOA have been concerned with the presence of the small radius horizontal curve along CR 510 located in close proximity to the proposed school and Vero Lakes Estates Subdivision. At the current time, the VLEPOA is opposed to the proposed school connecting a vehicular driveway to local roads in Vero Lakes Estates Subdivision. Connecting the school driveways to CR 510 within only 700 feet of the CR 510 curve will complicate increasing the radius of the CR 510 curve in the future. Increasing the radius will also complicate the design and construction of a major signalized intersection at CR 510 and the main Vero Lakes Estates access road, 87th Street. One alternative solution to increasing the radius of the curve is to design and construct a signalized intersection at CR 510 and 90th Avenue, thereby eliminating the curve. At the present time, this alternative is not acceptable to the VLEPOA. This Memorandum of Understanding between the COUNTY and the VLEPOA establishes technical criteria and a time schedule for resolving the CR 510 curve hazard, provides for a safe access plan for the proposed North County Elementary School, and provides for a future signalized intersection for Vero Lakes Subdivision property owners to access CR 510.