1/29/1991 - Laserfiche WebLink

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r JAN 2 1991 BOOK P.1GE Frangipani Drive from CR 510 to Magnolia Drive Chairman Bird announced the Public Hearing and requested speakers approach a microphone and state their name and address and speak. Peter Gasparini, 9535 Frangipani Drive, wanted to know if the estimates he had received were fixed prices or whether this is an adjustable figure. - .His second question was whether the County was assuming part of the cost and the third question dealt with the two-year payment plan, why couldn't it be like the water item where we had five years to pay. Engineer Gentile said these projects are coming in at. approximately fifty dollars a lineal foot with.the property owner paying 75% and the County picking up' 25%. The assessment was estimated a year or two ago and the actual cost of the project will be known at its completion. Commissioner Scurlock asked if it is true that the assessment Cannot be exceeded but can be less. Engineer Gentile responded, yes, this is a preliminary estimate; the actual cost will not exceed the estimate and may be less. As far as the payment the property owners have two years in which to pay this assessment, with the first payment one year after completion and the second payment one year after that, which could actually be three years. Mr. Gasparini said he was looking for a longer term than that and was requesting a longer term. Public Works Director James Davis explained seed money, cash flow, and the problems caused by not knowing when property owners will pay their assessments. There have been cases of hardship presented to the Commission where an extension was requested. Commissioner Scurlock discussed special assessment bonds as a way to reestablish cash flow for Public Works and further noted - that would also serve to accelerate the paving program. _ .:'%'._ Public Works Director Davis indicated there is no problem now but if the policy is changed it could present a potential problem. 12 � JI