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availability is reduced by 20% for each and every year thereafter. If an owner does not connect within year <br />5, all the subsidized costs are no longer applicable. <br />Year <br />Subsidized <br />Cost <br />Impact fee paid by IRC <br />Impact fee/Property <br />Owner Responsibility <br />1 <br />100% <br />$2,796.00 <br />$ 0.00 <br />2 <br />80% <br />$2,236.80 <br />$ 559.20 <br />3 <br />60% <br />$1,677.60 <br />$1,118.40 <br />4 <br />40% <br />$1,118.40 <br />$1,677.60 <br />5 <br />20% <br />$ 559.20 <br />$2,236.80 <br />6 <br />0% <br />$ 0.00 <br />$2,796.00 <br />Funds for this project are derived from utility assessment funds and optional sales tax contributions. <br />Furthermore, new growth has created the need for the expansion or construction of the facilities, and that <br />new growth will benefit from the expansion or construction of the facilities. <br />RECOMMENDATION: <br />For the Commercial Area Phase 1 Septic to Sewer (S2S) project to move ahead, the following options should <br />be considered for review and approval: <br />1. Approve the county's funding mechanism. Allocate the necessary dollars to reduce the construction <br />and connection costs as much as possible for property owners. <br />Construction Cost Fundine <br />Description <br />Account Number <br />Amount <br />Utility Assessment Fund (473) (20%) <br />473-169000-15501 <br />$393,479 <br />Optional Sales Tax Contribution (20•1/o) <br />31526836-066510-15501 <br />$393,479 <br />Property Owner Assessment (27%) <br />Assessment <br />$531,197 <br />Choose one of the following: <br />Impact Fee Funding- Option A <br />Description Account Number Amount <br />Optional Sales Tax Contribution (75%) 31526836-066510-15501 $314,550 <br />Property Owner -IRC (25%) Assessment $104,850 <br />Or <br />Impact Fee Funding- Option B <br />Description Account Number Amount <br />Optional Sales Tax Contribution (100%) 31526836-066510-15501 $419,400 <br />Property Owner -IRC (0%) N/A $0 <br />2. Begin implementation of a Phase 1 septic to sewer assessment project for the construction costs for <br />all properties both inside the City of Sebastian and unincorporated county. <br />o Direct staff to follow assessment procedures for notifying benefitting property owners, <br />preparation of assessment roll and the necessary resolutions. <br />o Hold necessary public meetings for property owners and interested parties <br />Page 7 of 8 <br />P140 <br />