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AUG 2 0 911 BOOK 84 PAGE The Board reviewed the following memo dated 7/24/91: TO: James E. Chandler, County Administrator FROM: James W. Davis, P.E. Public Works Directo , i�r SUBJECT: Continuance of Six Cent Local Option Gas Tax DATE: July 24, 1991 DESCRIPTION AND CONDITIONS The Transportation Planning Committee, the five (5) municipalities within the County and the Public Works Department Staff concur that continuance of the six cent Local Option Gas Tax (LOGT) Program is needed for the next five year period (September 1, 1991 to August 31, 1996). The attached ordinance and sample Interlocal Agreement have been prepared to effect the continuance. The LOGT distribution formula will remain the same as previously applied and is as follows: Percentage of total revenue allocated to each eligible entity = 1/3 of the entity's percentage of total equivalent lane miles of road + 1/3 of the entity's percentage of transportation expenditures over the previous five year + 1/3 of the entity's total percentage of population residing in the area based upon the 1990 census. For example, from the attached chart, Indian River County's share should be computed as follows: Percentage of total revenue allocated to Indian River County = 1/3 (69.900) + 1/3 (66.93%) + 1/3 (64.50) = 67.1100% In applying the above formula to all eligible entity's, the following percentages, rounded to the nearest tenth, are derived: Indian River City of City of City of Town of Indian Town of County Vero Beach Fellsmere Sebastian River Shores Orchid 67.1100% 19.0267% 1.9800% 10.8267% 1.0533% 0.0033% The annual funds proposed for distribution to each entity for the six cent of local option gas tax, would amount to the following: Proceeds from the Six Cent Local Option Gas Tax Indian River City of City of City.of Town of Indian Town of County Vero Beach Fellsmere Sebastian River Shores Orchid $2,010,121 $569,999 $59,306 $324,387 $31,451 $99 . 20 _I