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feasible, Indian River County's CIP is financially feasible. Overall, the CIP includes a summary of revenues and expenditures. The revenue and expenditure summary is included to demonstrate the financial feasibility of the CIP. That summary is included on page 20 of Appendix A of the CIP (see Attachment 4) and shows that, in fact, the County's Capital Improvements Program is financially feasible over the 5 year period by balancing revenues and expenditures. Indian River Lagoon Proiects At the August 16, 2016 Board of County Commissioners meeting, the Board directed staff to commit to spending 20% of the proceeds of the first five years of the extended one -cent local option sales tax on lagoon -related projects, if the tax was renewed by the voters in November 2016. On November 8, 2016, Indian River County residents voted to extend the one -cent local option sales tax effective January 1, 2020 through December 31, 2034. Consequently, the County has a goal of spending 20% of the one cent optional sales tax proceeds on lagoon -related projects for the first five years of the extension, starting with January 1, 2020 and ending with December 31, 2024 (FY 2019/20 — 2024/25). With the approval of the extension of the one -cent local option sales tax, the proposed 5 year Capital Improvements Program schedule allocates at least 20% of projected one -cent local option sales tax revenue to lagoon related projects during the portion of the FY 2019/20 —2023/24 period covered by the proposed plan. As proposed, the CIP directly allocates $19,051,603 out of a total of approximately $96 million (adjusted for start of sales tax extension) in projected one -cent local option sales tax revenue to lagoon related projects from Fiscal Years 2019/20 through 2023/24. For this CIE, the 20% applies to 60% of Fiscal Year 2019/20 one -cent local option sales tax revenue (Fiscal year starts on October I st 2019, sales tax reservation starts January 1' 2020) and 100% of the one -cent local option sales tax revenue for Fiscal Years 2019/20-2023/24. The 20% allocation is within the Stormwater Management, Conservation, Parks and Recreation, and Sanitary Sewer and Potable Water sections of the CIP. The lagoon benefiting projects listed in those sections of the proposed Capital Improvements Element include the following: • Hallstrom Farmstead water, sewer, restrooms • North Sebastian Sewer Phase 2A design, engineering and CEI • North Sebastian Sewer Phase 2B design, engineering and CEI • Floravan Shores Septic to Sewer, engineering • Sebastian Highlands Septic to Sewer Unit 2 and Unit 5 design and engineering • Miscellaneous lagoon projects • Lost Tree Islands restoration, replanting • Captain Forester Hammock Preserve wetland restoration, dock replacement • Indian River Lagoon Greenway wetland restoration/water quality improvement project 147