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for the utility to first identify the capital requirements and associated timetable through engineering <br />studies, including a capital program funding study. The capital program funding feasibility study <br />identifies appropriate funding sources for each project, availability of existing funds, and, if required, <br />rate adjustments. In setting rates, it is important to understand the type of capital improvement to be <br />funded (i.e. water, wastewater, reclaimed water, expansion, upgrade, replacement and renewal (R&R) <br />or a combination) along with its impact on operations and operating and maintenance (O&M) expenses. <br />Therefore, funds for such a study can be derived from capital funding if a project were to come to <br />fruition. Capital fund revenues are generated from impact fees. Furthermore, new growth has created <br />the need for the expansion or construction of the facilities, and that new growth will benefit from the <br />expansion or construction of the facilities. If this project does not come to fruition, then consultant <br />expenses will be derived from operating funds. <br />RECOMMENDATION: <br />Staff recommends the Board of County Commissioners consider the following: <br />• Authorize staff to complete the Consumptive Use Permit modification process. Once that <br />process has been completed, authorize staff to explore additional locations to handle surface <br />water supply reservoir/treatment needs at the time it is forecast that additional water capacity <br />will be needed. <br />ATTACHMENT(s): <br />Staff Report for the 83 -Acre Due Diligence Report & Opinion of Probable Cost from the February 16, <br />2016 BCC meeting. <br />122 <br />Page 4 of 4 <br />C:\Users\legistar\AppData\Local\Temp\BCL Technologies\easyPDF 8\@BCL@68233F7B\@BCL@68233F7B.docx <br />