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RESOLUTION 95-25 <br />The Chairman thereupon declared the resolution duly passed and adopted <br />this 14 day of February, 1995. <br />BOARD OF COUNTY COMMISSIONERS <br />INDIAN RIVER COUNTY, FLORIDA <br />ATTEST: By <br />FRAN B. ADAMS <br />VICE CH-A-IRMAN <br />Jeffr Barton clOrk <br />�CC <br />v <br />INDIAN RIVER BOULEVARD PHASE IV/FUNDING ALLOCATION <br />The Board reviewed a Memorandum of February 6, 1995: <br />TO: James It. Chandler, <br />County Administrator = <br />FROM: James W. Davis, P.E., _ <br />Public Works Director <br />l�' <br />SUBJECT: Indian River Boulevard Phase 1V - Funding Allocation <br />DATE: February 6, 1995 FILE: IRBFUND.AGN <br />DESCRIPTION AND CONDITIONS <br />Indian River Boulevard Phase IV is now complete. The project cost including right-of- <br />way acquisition was approximately $5.8 million. During construction, funds were <br />transferred from Fund 109 Local Option Gas Tax Revenue, and District IV Traffic Impact <br />Fees to provide seed money for the project. At this time, Traffic Impact Fee Fund 101- <br />155(District 5) funding should be properly charged for the project as follows: <br />Traffic Impact Fee District Roadway <br />District 5 IRB <br />District 4 IRB <br />District 4 53rd St <br />ALTERNATIVES AND ANALYSIS <br />From To Length % <br />37th St. 41st St. .6 mile 23 <br />41st St. 53rd St. 1.6 mile 62 <br />IRB USI .4 mile 15 <br />2.6 mile 00% <br />On Sept. 30, 1995, the District 5 Traffic Impact Fee Fund Balance was $2,055,648.04. <br />District 5's share of the project funding is 23% or $1,334,000. There is an adequate <br />balance in the fund, however, additional projects are programmed in the fund. <br />RECOMMENDATIONS AND FUNDING <br />At this time, staff recommends transferring $1,000,000 from Fund 101-155 (District 5 <br />Traffic Impact Fee) to Fund 109 (Local Option Gas Tax) as per the attached budget <br />amendment, to allocate appropriate funding. <br />800K 94 Fpic.+J <br />FEBRUARY 14, 1995 23 <br />