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(USPAP), used the sales comparison approach. In the opinion of A&W, the market value of the fee simple real estate of the 83.14 acres +/- is $1,400,000. CDM Smith's final report, included with this agenda as Attachment 1, is broken down into the following categories: 1) Background and Purpose 2) County land use, zoning & off site improvement requirements 3) Environmental considerations 4) Geotechnical investigation 5) Permitting evaluation 6) Conceptual design 7) Engineer's opinion of probable cost 8) Recommendation Background and Purpose The Indian River County Department of Utility Services (IRCDUS) currently operates two water treatment plants that use raw water from the Upper Floridan Aquifer. IRCDUS uses 15 wells (a 16th well is pending construction to provide redundancy) to supply the plants. Based on various studies from the St Johns River Water Management District (SJRWMD) and from County sponsored investigative reports, other alternative sources have been explored for its drinking water supply. Various studies and evaluations completed to date have resulted in the recommendation that should an alternative supply be needed, the County pursue development of a surface water source. When the 83 acre site next to the Osprey Marsh came on the market, it opened up the possibility of using the site to store surface water due to its close proximity to existing infrastructure. CDM Smith was hired to evaluate the environmental considerations, permitting requirements, geotechnical conditions, access, land use and other technical requirements to assist the county in determining if the site would be a good candidate for such a project. In addition to the project requirements, CDM Smith put together an opinion of probable cost (OPC), based on a conceptual/ planning level design, to determine if the project could be financially feasible. The short time duration for the report/ agenda did not allow for any pre -applications meetings with the regulatory agencies. Staff did undergo an Indian River County Technical Review Committee Pre - Application process that is the basis for much of the following local requirements. It is strongly suggested that should the process move forwa.rd, to meet with the regulatory agencies to better identify and solidify their requirements for such a project. County land use, zoning & off site improvement requirements The 83 acre site is zoned RS -6 (single family residential), RM -6 (multi -family residential) and CL (limited commercial), all with an L-2 land use classification (low density residential). The L-2 land use designation allows for up to 6 residential units per acre, which is why the two previous developers were looking to put up to 178 single family homes on the subject property. Under both the RS -6 and RM -6 zoning districts, "limited public and private utilities" are considered a Special Exception use. As such, no land re -designation is anticipated for the site, but a special exemption would be F•\Utilities\UTILITY - Engineering\WATER\Alternative Water Supply\Portofino Preserve aka Blackstone 83 acre site\Due Diligence Report for BCC 02_16_2016\Agenda - Due Diligence Report and OPC for 83 acre site for BCC meeting 02_16_2016.docx Page 2 of 14 100