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➢ The Florida legislature adopted Senate Bill 2100 making significant changes to the Florida Retirement System. Beginning July 2011, employees were required to contribute 3% of their salary toward the pension fund. Passage of this bill results in a savings of about $4.1 million. ➢ In February 2011, the Board of County Commissioners approved separating the Housing Authority from Indian River County effective July 1, 2011. Previously, the County provided financial assistance to and maintained some limited control over the Housing Authority and reported the Housing Authority as a discretely presented component unit of the County. ➢ Due to the decline in impact fee revenue, as well as sales tax and fuel tax revenues, the Board of County Commissioners authorized staff to create a priority list of road projects known as the "Super 8" using the following three criteria: ■ Roadway plans @ 60% (or greater) design ■ Road construction fully funded within the initial three years of County five year capital improvement plan ■ Right-of-way acquisition completed or substantially underway The road projects chosen, in priority order, are as follows: 1. Oslo Road between 43rd Avenue and 27th Avenue 2. 53rd Street between 58th Avenue and Indian River Boulevard 3. 26th Street between 82nd Avenue and 74th Avenue 4. Oslo Road between 58th Avenue and 43rd Avenue 5. 26th Street between 43rd Avenue and US Highway 1 6. 66th Avenue between 4th Street and 16th Street 7. 43rd Avenue between 18th Street and 26th Street 8. 66th Avenue between State Road 60 and 41 st Street • On January 15, 2008, the County entered into a locally funded agreement with the Florida Department of Transportation (FDOT) to advance the 6-laning of State Road 60 from 82nd Avenue to 66th Avenue (Segment One) at a cost of $23,833,362, funded by gas taxes and optional one -cent sales tax. On November 18, 2008 a second agreement was established with the FDOT to advance the widening of State Road 60 from Interstate 95 to 82nd Avenue (Segment Two) at a cost of $14,429,754. Segment One has been repaid in full and the first payment for Segment Two was received in July 2011 and will be repaid over a four and one half year period. The project was completed in April 2011. • The Utilities Department completed the Spoonbill Marsh Brine Project during FY 2011. This $2.1 million system is designed to accomplish a means of disposing brine while simultaneously achieving a "net environmental benefit". This benefit is a net reduction of nitrogen and phosphorous going back into the Indian River Lagoon. This environment also provides a flourishing habitat for plants, fish and animal life throughout the Marsh. Oysters have begun populating the ponds and wetlands. This colonization, along with the use of a floating mat system that utilizes marine vegetation, facilitates the uptake of the nutrients. iii