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ANALYSIS: <br />Attached for your review and approval are five copies of the subject <br />Developers Agreement, outlining the allowable reimbursement for <br />oversizing of utilities amounting to ,$64,313.00. As outlined in the <br />Agreement, the Developer shall be reimbursed with 500 of all impact <br />fees collected from the subject project and any surrounding properties <br />who connect within five years of acceptance of the improvements by the <br />Division of Utility Services, not to exceed the $64,313.00 allowable <br />reimbursement. <br />RECOMMENDATION: <br />The Division of Utility Services recommends that the Board of County <br />Commissioners approve and execute the accompanying Developers <br />Agreement with Wedgewood Park Development, Inc. for the Lake in the <br />Woods at Vero project. <br />ON MOTION by Commissioner Eggert, SECONDED by Com- <br />missioner Wheeler, the Board unanimously approved <br />Developers Agreement with Wedgewood Park Development, <br />Inc., for the Lake in the Woods project and author- <br />ized signature of the Chairman. <br />AN AGREEMENT BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA <br />AND - - <br />WEDGEWOOD PARK DEVELOPMENT, INC. <br />Granting reimbursements for oversizing certain <br />offsite utilities required by the County. <br />THIS AGREEMENT made this 20th day of January , 198 7, <br />by and between INDIAN RIVER COUNTY, a political subdivision of the <br />State of Florida, 1840 25th Street, Vero Beach, Florida 32960, <br />(County), and WEDGEWOOD PARK DEVELOPMENT, INC., P. 0. Box 278, Palm <br />Bay, Florida 32906-0278, (Developer); <br />W I T N E S S E T H: <br />WHEREAS, the Developer, in conjunction with the construction <br />of Lake in the Woods - at Vero Beach, is extending offsite water <br />and wastewater facilities to serve the subject project; and <br />WHEREAS, the County has required the Developer to oversize the <br />offsite utility improvements to serve the regional area and has <br />J <br />