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Two separate Assessment Rolls have been prepared, one assessment roll was prepared for property <br />owners who own land located in the benefited area within the city limits of Fellsmere, the other <br />assessment roll is for property owners who own land located in the benefited area of the <br />unincorporated portion of Indian River County. Staff has prepared the assessment roll in a manner <br />that the property owners will be assessed for 100% of the total costs being the maximum assessment <br />possible. These costs include costs for right-of-way acquisition and construction. <br />A separate resolution will need to be adopted to hold a Public Hearing to discuss the advisability, <br />cost and amount of the assessment against each property owner. <br />An assessment roll and plat has been prepared and filed with the Clerk to the Board of County <br />Commissioners. <br />RECOMMENDATION AND FUNDING <br />It is recommended that the Board: <br />1) Adopt the resolution providing for the paving and drainage improvements for this project <br />subject to the terms outlined in the resolution. The applicable interest rate shall be <br />established by the Board of County Commissioners at the time the final assessment roll is <br />approved. <br />2) A Budget Amendment in the amount of $845,348:65 ' will be brought before the Board at a <br />future date if the project is approved <br />3) Adopt a resolution setting the time and place of the Public Hearing. <br />Public Works Director Jim Davis advised that staff has done a <br />lot of work on this project since the public hearing that was held <br />in Fellsmere last year. <br />Civil Engineer Michelle Gentile displayed a map of the <br />Fellsmere area while Director Davis explained that this $900,000 <br />project has a lengthy assessment roll. The roll has been prepared <br />for the property owners to pay 100% of the assessment, but the <br />County or the City has the ability to pick up a portion of the <br />assessment. That will be decided at the public hearing on January <br />24, 1995. <br />Commissioner Adams emphasized that the January 24 date <br />maximizes the time when a great many of the property owners will be <br />in town. <br />Commissioner Bird asked Director Davis to recalculate the <br />figures because it seemed to him that it doesn't come close to $.50 <br />a linear foot. <br />17 <br />December 20, 1994 <br />Boos Ft�UF �9 <br />