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Construction Costs <br />Of the $1.97M construction cost, the grant funding, optional sales tax assistance and utility fund contribution <br />reduce the remaining costs to $531,197. The other funding sources represent approximately 73% of the <br />construction costs. Dividing the remaining owner portion number by the potential ERUs to be served <br />equates to a per-ERU cost estimate of $2,330 to all properties (inside and outside the COS). <br />Construction Cost <br />$1,967,394:70 <br />Percentage <br />Amount <br />Cost Share Grant <br />33% <br />$649,240.00 <br />Utility Assessment Fund (473) <br />20% <br />$393,479.00 <br />Sales Tax Contribution <br />20% <br />$393,479.00 <br />Total Other Sources <br />73% <br />$1,436,198.00 <br />Assessment- (Owner) Portion <br />$531,197.00 <br />Impact Fee Costs <br />An estimated 228 ERUs are to be connected from existing structures and future growth. Of that number, it <br />is estimated that 78 ERUs are inside the COS and 150 are in unincorporated county. Assuming a full impact <br />fee demand of $637,488, these costs will affect property owners, depending on their location. <br />As noted prior, the city council is meeting as of the writing of this agenda to allocate CRA funds, COS funds <br />and IRLC grants to qualified property owners in assist with connection costs. It is feasible that a qualified <br />property owner could have their sewer impact fee cost covered by the COS's funding sources so that their <br />only obligation would be the estimated reduced capital recovery costs of $2,330/ERU. County residents <br />would be required to pay a portion of the impact fee as shown below: <br />Impact Fee (228 ERU x $2,796/ERU) <br />$637,488 <br />Percentage <br />Amount <br />IRC Properties -150 ERUs <br />Sales Tax Contribution ($2,076/ERU) <br />75% <br />$314,550* <br />Qualified Owners. ($699/ERU) <br />25% <br />$104,850 <br />City of Sebastian -78 ERUs <br />City Funds (CRA, IRLC, COS match) <br />100% <br />$218,088 <br />Qualified Owner <br />0% <br />$ 0 <br />* Illustration is for 75% subsidy but other options exist. <br />SCHEDULEMMELINE: <br />On October 4, 2016, the Board approved the SJRWMD cost share funding agreement for the septic to sewer <br />project for a maximum reimbursement of up to $649,020.35, or 33% of the construction cost of the project. <br />There are some key dates/milestones to remember: <br />Page 4 of 8 <br />P137 <br />