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Board of County Commissioners Meeting Minutes - Final February 6, 2018 BCC consider the following options: 1) Adopt Resolution No. III with the following items: a. Cost per parcel of $5,200.00; b. Nine (9) benefitting parcels as part of the special assessment lien; c. For benefitting parcels in point b, allow property owners to finance the capital cost of $5,200.00 for up to 10 years, payable in ten equal yearly installments at an annual interest rate of 5.00% (set by the BCC each January); and, 2) Allow property owners to connect once the new water main has been placed into service prior to Resolution IV. Attachments: Staff Report Map of Assessment Area Estimated Monthly Expenses for Water Assessment Confirming Resolution (Resolution No. III) Assessment Roll (Exhibit A to Resolution No. III) Director of Utility Services Vincent Burke provided background information and analysis of the proposed water main extension along 103rd Court in Vero Lake Estates Subdivision. Through the use of a PowerPoint Presentation, he explained that an equal per parcel cost of $5,200.00 would be levied against all nine (9) benefiting parcels, and that the property owners would be allowed to finance the costs for up to ten (10) years at an annual rate of 5.00%. Director Burke explained that he had recently learned that several property owners were no longer in favor of the project because of the cost, and he wished to afford them the opportunity to voice their concerns. The Board sought and received information regarding the water connection of two properties that were not included in the assessment and whether there would be a fire hydrant installed on the south end of the project. The Chairman opened the Public Hearing for comments. Dierdre Parker, 8856 103rd Court, opposed the project because of the cost involved and provided a list of signatures from several other residents who were also against the project, but could not be present to speak. There being no further comments, the Chairman closed the Public Hearing. The Chairman felt that even though the benefits of the project were significant, he could not be in favor of moving the project forward because there was not enough support from the property owners. Commissioner Zorc recalled the lower per unit costs associated with the Pinson Subdivision Project, and asked Director Burke about the factors that were contributing to the high costs for the water main extension along 103rd Court. Indian River County Florida Page 10