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The new site was necessary because: <br />(A) The land where the plant presently exists is not <br />ours and we are contractually obligated to remove said plant. <br />(B) Even if we could acquire or have title where our <br />present plant exists, it is our judgement based upon studies <br />we have made that the land upon which the present plant is <br />situated is not of a large -enough size to allow necessary plant <br />expansion and meet D.E.R. Regulations. <br />The project which we propose to undertake and which we <br />believe to be in the public interest will cost approximately <br />$900,000.00. The details of those costs will be presented by <br />our engineer. <br />The Indian River county Utility Department has made several <br />inspections of our facilities in the past few months. Their <br />reports presented to me verifies and concurs with the statements <br />I have made concerning deficiencies in meeting D.E.R. Requirements. <br />In order to implement our proposed construction program, <br />it is necessary for our company to seek external financing. We <br />can obtain financing through Industrial Revenue Bond financing. <br />On September 7,1983, the B oard of Indian River County <br />adopted a Inducement -Resolution as a first step towards <br />assisting us in obtaining Industrial Revenue Bond financing. <br />35 <br />