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land bonds, any future general obligation bonds would therefore require voter approval. The next general election will occur in November 2022. Staff would recommend that a bond referendum for this purpose be conducted during a general election rather than a special election to ensure a higher voter turnout with more participation from the public. POTENTIAL USE OF BOND FUNDS On October 6t', the Board discussed a desire to consider multi-purpose uses of land the County already owns, similar to the improvements made at the Osprey Acres Preserve. Osprey Acres is a stormwater park and nature preserve developed by the County on 83.7 acres of land that had previously been purchased by the County. This facility boasts a range of natural Florida ecosystems including uphill pine, mesic oak hammock, a small scrub area, and now manmade wetlands. Having these various habitats promotes a wealth of biodiversity within the property. Originally slated for more than 400 home parcels, Osprey Acres was bought by Indian River County, to not only preserve these fragile ecosystems, but to aide in further treatment of storm - water and reverse osmosis (R.O.) reject water before these waters enter the Indian River Lagoon. Waters for treatment come from both Osprey Marsh (which treats the demineralization concentrate (DC) from the South R.O. Water Plant next door) and untreated stormwater from the South Relief Canal. The facility has the capacity to treat up to 12 million gallons of water per day and removes approximately 5,000 lbs. of nitrogen and 1,000 lbs. of phosphorous per year from water heading to the Indian River Lagoon. Additionally, the park serves as an outdoor recreational amenity with 1.9 miles. of walking trails where County residents and visitors can experience the preserved natural habitats throughout the site. LARGE-SCALE STORMWATER PROJECTS The County could utilize proposed bond funds to construct projects that provide water treatment as well as recreational opportunities and natural habitat preservation on currently -owned County property or could consider new purchases of land that could be developed in a similar manner. For comparative purposes, the County purchased the Osprey Acres parcel for $1 million. Construction costs totaled $7.7 million, and the County was able to secure grant funding of $3.6 million for the project. This gives a basic indication of the cost of construction for such a facility. It should be noted that construction costs are currently running a bit higher than they were when this project was started in 2016, so these figures should be adjusted accordingly. 134