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City of Fellsmere Cost <br />F.F. = $6.00/F.F. x 6466 = $38,796.00 <br />Acreage = $264.72/Acre x 29.21 = 7,732.24(2) <br />Total Cost in City of Fellsmere $46,528.24 <br />Indian River County Cost <br />F.F. = $6.00/F.F. x 14,627 = $ 87,762.00 <br />Acreage = $264.72/Acre x 2305.550) $610.324.970 <br />Total Cost to Unincorporated Area $698,086.97 <br />o)This includes 55 additional acres for Berry Groves (175 Acres Assessed instead of 120 <br />acres in Alternative No. 1 above.) <br />ONumber off by rounding factor. <br />If the County were to share in these costs ($610,324.97) <br />25% by County (L.O.G.T. or L.O.S.T.) $152,581.24 <br />75% by Property Owners _ $457,743.730 <br />Cost per Acre $ 198.54 <br />(')Number off by rounding factor. <br />A separate resolution will need to be adopted to hold a Public Hearing to discuss the <br />advisability, cost and amount of the assessment against each property owner. <br />An assessment roll and plat has been prepared and filed with the Clerk to the Board of <br />County Commissioners. <br />RECOMMENDATION AND FUNDING <br />It is recommended that the Board: <br />1) Staff recommends Alternative No. 3. The applicable interest rate shall be established <br />by the Board of County Commissioners at the time the final assessment roll is <br />approved. <br />2) A Budget Amendment in the amount of $735,074.64 will be brought before the <br />Board at a future date if the project is approved. <br />3) Adopt a resolution setting the time and place of the Public Hearing. <br />MOTION WAS MADE by Commissioner Eggert, <br />SECONDED BY Commissioner Adams, to approve <br />staff's recommendation as set forth in the <br />memorandum (Alternative 3) by adopting <br />Resolutions 95-96 and 95-97 as proposed. <br />Under discussion, Commissioner Adams inquired if it would be <br />necessary to re -advertise if anything is changed at the public <br />hearing, and Public Works Director Jim Davis explained that it <br />would only be necessary if the cost to the benefitted owners is <br />higher than what was in the letter sent to them prior to the public <br />hearing. <br />19 <br />August 22, 1995 <br />800f f" onf 954 <br />