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Construction Costs: <br />Prior to the bids being opened, the funding was broken down based on the initial estimate of $1.97M as <br />follows: <br />Funding Allocations <br />Based Initial Estimate of $1.97M approved by BCC 12/20/16 <br />Percentage Amount <br />Cost Share Grant <br />33.00% <br />$649,240 <br />Utility Assessment Fund (473) <br />20.00% <br />$393,479 <br />Sales Tax Contribution 1 <br />20.00% <br />$393,479 <br />Assessment- (Owner) Portion <br />27.00% <br />$531,197 <br />��,. <br />OWNER�P�ORTION�P�ER�ERU� <br />$2T330' <br />Based on the $2.97M construction cost bid, staff presents three options for the BCC to consider: <br />Option I: The grant funding, optional sales tax assistance and utility fund contribution held the same. <br />An increase of 52% vs. 27% would be required by property owners. <br />Option II: Keep the percentage the same, which increases the assessment fund and sales tax amounts. <br />Owner percentages would increase to 38.2% vs. 27%. <br />Option III: Transfer the balance of the Impact Fee Funding dollars that cannot be allocated for new <br />construction (vacant parcels) as directed by BCC on December 20, 2016, with the utility fund percentage <br />remaining as presented in Option I. The costs to the owner would be 40.51%. <br />Funding <br />Option I- Hold $$ the same <br />Option II- Hold % the same <br />Option III -Re -allocate impact <br />Allocations <br />as 12/20/16 <br />as 12/20/16 <br />$$ from vacant parcels <br />% <br />Amount <br />% <br />Amount <br />% <br />Amount <br />Cost Share Grant <br />21.80% <br />$649,240 <br />21.80% <br />$649,240 <br />21.80% <br />$649,240 <br />Utility Assessment <br />13.21% <br />$393,479 <br />20.00% <br />$595,586 <br />13.21% <br />$393,479 <br />Fund (473) <br />Sales Tax <br />Contribution <br />13.21% <br />$393,479 <br />20.00% <br />$595,586 <br />24.48% <br />$728,999 <br />Assessment - <br />(Owner) Portion <br />51.77% <br />$1,541,734 <br />38.20% <br />$1,137,519 <br />40.51% <br />$1,206,214 <br />OWNER PORTION <br />$6,762 <br />$4,989 <br />$5,290 <br />PER ERU = <br />Notes: <br />Cost Share: Maximum allowed is $649,240. <br />Option I, II & III: SJRWMD cost -share allocation amount cannot change. <br />SCHEDULE/TIMELINE: <br />On October 4, 2016, the BCC approved the SJRWMD cost share funding agreement for the septic to sewer <br />projectfor a maximum reimbursement of up to $649,240, or 33% of the construction cost of the project based <br />on the Engineers Opinion of Probable Cost. There are some key dates/milestones to remember (subject to <br />change): <br />C:\Users\GRAN IC",1\AppData\Local\Temp\BCL Tech no logies\easyPDF 7\@BCL@C0054BOA\@BCL@C0054BOA.docx <br />P174 <br />