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RECOMMENDATION: <br />Open the public hearing. <br />After receiving input, consider adopting Scenario No.3 with any revisions based on that public input. <br />Staff feels that Option No.3 satisfies the super majority requirement outlined in the County Ordinance <br />No. 81-27 and further does not set a precedence for any future assessment projects. <br />Staff recommends that the Board of County Commissioners consider only one of the following three <br />options: <br />1) Do Nothing and Terminate the project <br />2) Adopt Resolution No.3 with Scenario 2 with the following Items: <br />a. Cost per parcel $5,845.74 <br />b. Seventeen (17) benefitting parcels part of the special assessment lien <br />c. Two (2) parcels as part of a voluntary connection/capital recovery mechanism <br />d. For benefitting parcels above in 2b. and voluntary connections in 2c., allow property <br />owners to finance the capital cost of $5,845.74 for up to 10 -years payable in ten <br />equal yearly installments at an annual interest rate as set by the Board each January <br />(currently at 5.75%) <br />3) Adopt Resolution No.3 with Scenario 3 with the following Items: <br />a. Cost per parcel $5,845.74 <br />b. Ten (10) benefitting parcels part of the special assessment lien <br />c. Nine (9) parcels as part of a voluntary connection/capital recovery mechanism <br />d. For benefitting parcels above in 3b. and voluntary connections in 3c., allow property <br />owners to finance the capital cost of $5,845.74 for up to 10 -years payable in ten <br />equal yearly installments at an annual interest rate as set by the Board each January <br />(currently at 5.75%) <br />ATTACHMENT(s): <br />1. Scenario No.2 <br />2. Scenario No.3 <br />3. Confirming the Special Assessment Resolution No. III for Scenario No.2 <br />4. Assessment Roll and Assessment Area Map for Scenario No.2 <br />5. Confirming the Special Assessment Resolution No. 111 for Scenario No.3 <br />6. Assessment Roll and Assessment Area Map for Scenario No.3 <br />APPROVED FOR AGENDA: <br />By: <br />1 /1 <br />,;/ JosephfA. Baird, County Administrator <br />F/o// <br />cP(// <br />Date <br />Indian River Co. <br />Approve <br />Date <br />Administration <br />3)515 <br />Legal <br />D 11\A <br />1111!!!! <br />S <br />Budget <br />Air 15 <br />Utilities <br />� <br />• • 1 <br />Utilities -Finance <br />C enc- <br />3 " -15 <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 lll_cmc.doc Page 5 of 5 <br />138 <br />