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The proposed Beach Restoration Fund budget includes the renourishment of Sectors 3 & 7 for a total estimated cost of $24.7 million. Although the County has been awarded multiple grants and FEMA project worksheets to cover a significant portion of these expenses, due to the length of time this reimbursement process takes, an interfund loan may become necessary in the interim. Staff will keep the Board informed if an interfund loan is needed. The proposed FY 2020/21 SHIP budget contains no State Housing Initiative Program revenue allocation. While the Govenor vetoed the State's proposed SHIP funding which in turn removed the County's local SHIP allocation, $250 million in CARES Act funding was made available for rental and mortgage assistance to prioritize afforadable housing in the State. Due to the uncertainty of any SHIP allocation at this time, staff intends to adjust the budget at a later date when more guidance becomes available. Optional Sales Tax The Optional Sales Tax (OST) Fund budget is $25,161,674 reflecting a decrease of $30,184,422 or 54.57% from the current year. This is due largely to the fluctuation in capital projects from year to year. The annual revenue allocation for OST is anticipated to decrease by $1,900,000 or 10% when compared to last year. COVID-19 has impacted residents' discretionary income and thus reduced OST revenue the County has received since the pandemic arose. The largest component of budgeted projects is for road construction, totaling $14,001,331 for FY 2020/21. The 20% allocation of OST to fund Indian River Lagoon improvement projects is also budgeted totaling $5,107,779. Despite the anticipated decrease in OST revenues, the budget continues to prioritize projects that were already planned in the Capital Improvements Element for FY 2020/21. These projects include improvements at multiple Parks and Conservation areas for $2.0 million, construction of Moorhen Marsh Low Energy Aquatic Plant System for $3.0 million, road projects totaling $14.0 million as mentioned above, and various other capital improvements. Golf Course The proposed Golf Course budget totals $3,219,703, reflecting an increase of $106,731 or 3.4%. No change in rates is currently, proposed and the courses remain self-supporting. However, due to the increase between tee -times as a result of COVID-19 and adequate social distancing,a reevaluation of rates may become necessary to ensure the courses remain self-supporting. Due to the uncertainty regarding COVID-19, Staff intends to bring an agenda item before the Board sometime this fall to address any rate changes, if the need arises. • In