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Long Term Financial Planning and Major Initiatives Chapter 163 Florida Statutes and Florida Administrative Code Rule 9J-5 requires each local government to have a Comprehensive Land Use Plan. An important part of this plan is the Capital Improvements Program (CIP) which evaluates the need for public facilities in support of the Future Land Use Element, to estimate the costs of improvements for which local government has fiscal responsibility, to analyze the fiscal capacity of the local government to finance and construct improvements, and to adopt financial policies to guide the funding and construction of the improvements. The CIP is updated annually and encompasses a period of five years. Listed below are six major capital projects included in the current CIP along with the source of funding and capital costs: • Fire/EMS Station 13 - Construction of an additional station is necessary to serve the expanding south county population. The Emergency Services District reserves will provide $1.7 million with the remaining $850,000 being funded by impact fees. The operating expense will be approximately $2.1 million. • Osprey Marsh - The County is constructing the second algal turf scrubber (ATS) system called the "Osprey Marsh" for the south relief canal. The ATS will remove dissolved nitrogen and phosphorous from the water and return the treated water back to the Indian River lagoon where it will enhance water quality and thereby support the resurgence of sea grasses in the lagoon. This project is a collaborative effort between the Utilities Department and the Stormwater Division. It is being funded through a combination of capacity charges, one cent sales tax and grants at an estimated cost of $8.6 million. • South County Park — Phase III Improvements - The expansion of this park is necessary to provide recreation facilities and programs to the growing population in the southern part of the County. A multi-purpose intergenerational facility will be constructed at a cost of $6.9 million with impact fees and one cent sales tax providing the funding. Ad valorem tax proceeds and user fees as well as partnering agency contributions will fund increased operating costs which are estimated to be about $118,000 per year. • 66th Avenue Widening — The widening of 66th Avenue from State Road 60 in Vero Beach to 49th Street is currently underway. This is one of the few main arterials connecting the north and south county areas and traffic has increased substantially on this road. Construction costs are over $20 million. Funding is from traffic impact fees, gas taxes and grants. In the future, the County plans to expand 66th Avenue from 49th Street to the Sebastian City limits. • CR 510 - 70th Avenue to Indian River — This roadway is scheduled for widening at an estimated cost of $7.1 million for right of way and $21 million for construction. Traffic impact fees, optional sales tax and gas taxes will provide the funding. • Segment II Landfill Closure - Segment II of the landfill will reach capacity in FY 14-15. The County has been accruing the cash on an annual basis to cover the estimated $4.5 million closure costs. State and Federal regulations required that the Solid Waste Disposal District (SWDD) provide funding for the closure and long-term maintenance costs of each segment of the landfill as capacity is used. The SWDD user fees provide the funding source. Operating costs for the new cell should remain about the same as for the current segment. iv