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FINANCING/FUNDING: <br />The estimated construction cost is $1,967,395.00, of which 33% will be reimbursed by the SJRWMD Cost - <br />Share Grant. Please note that the SIRWMD Cost -Share funding amount will be based on 33% of the actual <br />construction cost for a maximum grant funding of $649,240.35. Staff will bring forth a separate item at a <br />later date to address funding sources for the remainder of the construction cost. <br />RECOMMENDATION: <br />Staff recommends approval of the attached Cost -Share agreement and request the Board to authorize the <br />Chairman to execute the same on their behalf. Please note that if, during the procurement process, bids are <br />much higher than the engineer's opinion of probable cost, the County has the option to close the agreement <br />early without addressing any construction. The early closeout of the agreement would be brought as a new <br />item to the board at that time. <br />ATTACHMENT(s): <br />1. FY 16/17 Cost Share Agreement for North Sebastian Phase I Septic to Sewer <br />By: <br />Jason f. Briwn, County Administrator <br />For <br />Indian River Co. <br />Appr d <br />Date <br />Administration <br />Legal <br />Budget <br />Utilities <br />(j <br />G(-27-11, <br />Utilities -Finance <br />Page 2 of 2 <br />F:\Utilities\UTILITY - Engineering\Projects - Utility Construction Permits\IRC - Sewer Feasibility Studies UCP it 4101\3. North Sebastian <br />(M&M)\Admin\Agenda - North Sebastian Septic to Sewer Cost Share Funding -Phase Lcloc 69 <br />