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TO: James E. Chandler, <br />County Administrator <br />FROM: James W. Davis, P.E., <br />Public Works Director <br />SUBJECT: Request for Additional Road Paving in <br />Vero Lakes Estates Subdivision and <br />Corresponding Increase in the Vero Lakes Estates <br />M.S.T.U. Assessment <br />DATE: July 8, 1991 <br />DESCRIPTION AND CONDITIONS <br />During the June 4, 1991, meeting of the Board of County <br />Commissioners, staff was requested to advertise for a public <br />hearing to be held on July 16, 1991, for the purpose of <br />receiving public comments regarding a petition submitted by <br />approximately 80 property owners requesting an increase in <br />the Vero Lakes Estates M.S.T.U. Assessment from $15.00 per <br />parcel acre to $50.00 per parcel acre. This requested <br />increase is for a two year period commencing October 1, <br />1991. The purpose of the increase is to fund paving of the <br />following roadways: <br />91st Avenue from 79th Street to 87th Street - 1 mile <br />101st Avenue fom 79th Street to 87th Street - 1 mile <br />79th Street from 91st Avenue to 101st Avenue - 1.25 mile <br />Total 3.25 mile <br />Financial Data - Since its inception in -1985, the Vero Lakes <br />Estates M.S.T.U. Revenues and Expenditures are as follows: <br />Revenues <br />1985-86 - 1990/91 (6 years) M.S.T.U. Assessment $345,779.00 <br />Interest Revenue 45,702.00 <br />Miscellaneous Income 514.00 <br />Total Revenue $391,995.00 <br />Expenditures <br />Vero Lakes Estates Drainage Study $ 94,652.00 <br />(including Aerial Photogrammentry, Soils <br />Testing, etc total project $107,625.00) <br />Construction of paving & drainage improvements 57,155.00 <br />(87th Street) <br />Miscellaneous Expense 6,261.00 <br />Total Expenditures $158,068.00 <br />Revenue -Expenditure (Fund Balance) $233,927.00 <br />Approximately $150,000.00 of this existing fund balance has <br />been set aside to 'fund the paving of 101st Avenue, a <br />collector road between CR 512 and 87th Street (1 mile). <br />:�� <br />BOOK ' '' a <br />3 �.� F'a� <br />J U L 16 199 r''t' <br />