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BOR. <br />ALTERNATIVE NO. 1 - Funding by Acreage - Special Assessment Only: <br />Total Cost of Project $744,615.21 <br />Total Cost to City of Fellsmere Property Owners $ 9,540.57 <br />_ Total Cost to Indian River County Property Owners $735,074.64 <br />Total Cost per Acre (100% Special Assessment Fund) $326.62 <br />Total Acres: <br />City of Fellsmere - 29.21 <br />Indian River County - 2250.55 <br />2279.76 Acres <br />95 �,A,,F 953 <br />If the County were to share in these costs for the unincorporated area only ($735,074.64): <br />25% by County- Local Option Gas Tax (L.O.G.T.) <br />or Local Option Sales Tax (L.O.S.T.) $183,768.66 <br />75% by Property Owners $551,305.98 <br />Cost per Acre (Unincorporated Area Only) $ 244.965 <br />ALTERNATIVE NO. 2 - A $2.00 Front Footage Special Assessment and an Acreage <br />Assessment for benefited area: <br />Total Cost of Project <br />$744,615.21 <br />Total Front Footage ( F.F.) = 21,093 <br />Assessed Cost per F.F. = $2.00 - Front Footage Special Assessment $ 42,186.00 <br />Total Acres 2,334.76(l) <br />Cost per Acre $300.86 - Acreage Special Assessment <br />$702,429.21 <br />City of Fellsmere Cost <br />F.F. = $2.00/F.F. x 6466 = <br />$12,932.00 <br />Acreage = $300.86/Acre x 29.21 = <br />8,788.12 <br />Total Cost in City of Fellsmere <br />$21,720.12 <br />Indian River County Cost <br />F.F. = $2.00/F.F. x 14,627 = - <br />$ 29,254.00 <br />Acreage = $300.86/Acre x 2305.55(l) <br />$693.641.09(2) <br />Total Cost to Unincorporated Area <br />$722,895.09 <br />If the County were to share in these costs ($693,641.09) <br />25% by County (L.O.G.T. or L.O.S.T.) <br />$173,410.27 <br />75% by Property Owners _ <br />$520,230.81(') <br />Cost per Acre <br />$ 225.642 <br />ALTERNATIVE NO 3 - A $6.00 Front Footage Assessment and an Acreage Assessment <br />for benefited area. <br />Total Cost of Project $744,615.21 <br />Total F.F. = 21,093 <br />Cost per F.F. = $6.00 - Front Footage Assessment $126,558.00 <br />Total Acres 2,334.760) <br />Cost per Acre $264.72 - Acreage Assessment $618,057.210) <br />18 <br />August 22, 1995 <br />M M M <br />