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Constructing the watermain to Roseland Road to complete a looped system will benefit the <br />residents and utilities for system redundancy, improved water quality and allow for future growth. <br />As shown above from both scenarios, the Department of Utilities commitment is thirty two percent <br />(32%) of the total project cost. However, the Department of Utilities will be obligated to carry <br />between 39% to 64% ($62,837.50 to $103,757.68) of the total project cost depending on the <br />scenario and the timeliness of the voluntary connections. As with each this scenario, the board will <br />be asked to consider a capital recovery mechanism for the voluntary parcels that would obligate <br />them to pay a fair share portion of the project if and when they chose to connect to County water. <br />This capital recovery mechanism is similar to what the Board approved for the residents along 66th <br />avenue between 4th street and 16th street. <br />Staff has secured the FDEP permit and the Indian River County Right -of -Way permit for the project. <br />If the BCC authorizes staff to move forward with the project after the Public Hearing then staff <br />anticipates the following schedule (please note that these dates are estimations and could be <br />subject to change): <br />➢ Advertise for bids — May, 2015 <br />➢ Award Contract —July, 2015 <br />➢ Notice to Proceed — August, 2015 <br />➢ Substantial Completion — November, 2015 or 90 calendar days from NTP <br />➢ Final Completion — December, 2015 or 120 calendar days from NTP <br />➢ Final As -Built Resolution (Resolution IV) to BCC—January, 2016 <br />FUNDING: <br />Funds for this project are derived from a combination of assessment funds and the capital fund. <br />Capital fund revenues are generated from impact fees. Furthermore, new growth has created the <br />need for expansion or construction of the facilities and that new growth will benefit from the <br />expansion or construction of the facilities. <br />SCENARIO NO.2 <br />DESCRIPTION <br />ACCOUNT NUMBER <br />AMOUNT <br />Indian River Drive Water <br />Assessment -Scenario No. 2 <br />473-169000-06510 <br />$ 99,377.58 <br />Indian River Drive Water Line <br />Extension to Roseland Road <br />472-169000-06510 <br />$ 62,837.50 <br />SCENARIO NO.3 <br />DESCRIPTION <br />ACCOUNT NUMBER <br />AMOUNT <br />Indian River Drive Water <br />Assessment -Scenario No. 3 <br />473-169000-06510 <br />$ 58,457.40 <br />Indian River Drive Water Line <br />Extension to Roseland Road <br />472-169000-06510 <br />$ 103,757.68 <br />J:\Utilities\UTILITY - Engineering\Projects - Assessment Projects\000Assessments - 2012 Proposed\IR Drive - Roseland Rd to Inlet at Sebastian <br />Condos\BCC Agenda Items\Agenda Indian River Drive Res III_cmc.doc Page 4 of 5 <br />137 <br />