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- M <br />putting ourselves out of funding the 12th Street/Indian River <br />Boulevard project, even though this $250,000 would be using a <br />significant amount of money generated by the optional 2� gas tax. <br />He noted that $300,000 is generated for every 14 of gas tax. <br />Director Davis explained the Equipment Grant Program, but <br />advised that the DOT won't have funding for this during the next <br />5 years. <br />Chairman Scurlock felt the bottom line is that the necessary <br />improvements to State roads are not going to get done unless the <br />County finds another way to fund the expense. <br />Commissioner Wodtke suggested that we track the previous <br />commitments made in the DOT's 5 -Year Program for Indian River <br />County projects so that in 5 years we will be able to get the <br />money. <br />Commissioner Bowman asked when we would begin receiving <br />monies through the 64 optional local gas tax, and Director Davis <br />understood that the first draw would be in December. <br />Administrator Wright noted that although the County did not <br />obligate any money from the existing 24 tax, the funds must be <br />spent on new projects. We just have been building up the account <br />and have not spent a nicke-I of those funds as yet. <br />Chairman Scurlock understood then that from a cash flow view <br />point, it is not going to hinder us if we go ahead and take <br />action today on these recommendations and that staff's <br />recommendation is to approve the projects as outlined and <br />withhold final approval of funding until after the workshops and <br />public hearing are held on the matter of increasing the local <br />optional gas tax to 44 or 64. <br />27 <br />Boa 63 PnEIM06 <br />