10/03/2006 (2) - Laserfiche WebLink

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Budget Director Jason Brown continued the presentation explaining in detail the recommendations regarding funding options. He presented advanced funding options, looking at four different alternatives, as well as a Cash-Flow scenario analysis looking at all County roadways including revenue and expenses. He also recommended that the Board not enter into the advanced funding agreements based on funding constraints and cash flow forecast. MOTION WAS MADE by Commissioner Wheeler, SECONDED by Commissioner Bowden for discussion, to approve staff’s recommendation. Commissioner Bowden asked if FDOT ever paid back loans with interest. Director Brown was not aware of that or that it has even happened in the past. Ralph Poppell, Florida State Representative (District 29), said it was really State Representative Mayfield who worked in the beginning on securing the money for this project and acknowledged that Mr. Mayfield had done a great job. He, too, felt that the $67 million (to be advanced for the project) was way out of line and he discussed it with the Department of Transportation Secretary Denver Stutler, Jr., and they all agreed that the cost was too high. He felt the County would be missing a “golden opportunity” to complete the road if they denied the request. He informed the Board of a letter he got from Secretary Jim Wolfe (District 4) showing considerable less dollars involved: instead of the $37 million it is now $32.3 million, instead of $30 million its now $22.7 million, so they were now looking at $55 million versus the $67 million. He recommended that this be kept alive and the Board not deny the project. Stan Mayfield, Florida State Representative (District 80) impressed upon the Board not to make decisions today to withdraw from this proposal because there was no urgency or requirement. He, however, promised to support the Board in whatever they decided. October 3, 2006 50