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Special Revenue and Capital Projects Funds <br />Five of the following streetlighting districts non -ad valorem rates have been reduced, primarily due to the <br />lower electric rates of Florida Power & Light. <br />Streetlighting <br />Districts <br />2020/2021 <br />Parcel/Acre <br />2021/2022 <br />Parcel/Acre <br />Variance <br />Gifford <br />$23.00 <br />$21.00 <br />($2.00) <br />Laurelwood <br />$36.00 <br />$35.00 <br />($1.00) <br />Rockrid e <br />$5.00 <br />$3.00 <br />($2.00) <br />Vero Highlands <br />$34.00 <br />$34.00 <br />$0.00 <br />Porpoise Point <br />$7.00 <br />$7.00 <br />$0.00 <br />Laurel Court <br />$39.00 <br />$39.00 <br />$0.00 <br />Tierra Linda <br />$39.00 <br />$39.00 <br />$0.00 <br />Vero Shores <br />$24.00 <br />$24.00 <br />$0.00 <br />Ixora Park <br />$20.00 <br />$20.00 <br />$0.00 <br />Royal Poinciana <br />$39.00 <br />$39.00 <br />$0.00 <br />Roseland Road <br />$1.00 <br />$1.00 <br />$0.00 <br />Whispering Pines <br />$16.00 <br />$16.00 <br />$0.00 <br />Moorings <br />$9.00 <br />$9.00 <br />$0.00 <br />Walker's Glen <br />$20.00 <br />$20.00 <br />$0.00 <br />Glendale Lakes <br />$40.00 <br />$40.00 <br />$0.00 <br />Floralton Beach <br />$46.00 <br />$45.00 <br />($1.00) <br />West Wabasso <br />$19.00 <br />$18.00 <br />($1.00) <br />Oceanside(per lot <br />$51.00 <br />$51.00 <br />$0.00 <br />Oslo Park (per lot) <br />$15.68 <br />$15.68 <br />$0.00 <br />Other M.S.B.U.'s <br />2020/2021 <br />Parcel/Acre <br />2021/2022 <br />Parcel/Acre <br />Variance <br />Vero Lake Estates <br />$50.00 <br />$50.00 <br />$0.00 <br />E. Gifford Stormwater <br />$10.00 <br />$10.00 <br />$0.00 <br />The proposed Beach Restoration Fund budget includes the renourishment of Sector 3, Phase 2 for a <br />total estimated cost of $15 million. Although the County has been awarded multiple grants and FEMA <br />project worksheets to cover a significant portion of these expenses, due to the length of time this <br />reimbursement process takes, an interfund loan will become necessary in the interim. Staff will keep the <br />Board informed as to when the interfund loan is needed. <br />Optional Sales Tax <br />The Optional Sales Tax (OST) Fund budget is $30,063,393 reflecting a decrease of $28,330,782 or <br />48.5% from the current year. This is due largely to the fluctuation in capital projects from year to year. <br />The annual revenue allocation for OST is anticipated to increase by $3,000,000 or 17.5% when <br />compared to last year. This increase is due to the positive revenue trends the fund is experiencing as <br />the recovery from COVID-19 continues. Also impacting the budget is the passage of SB 50 which <br />requires out-of-state retailers and marketplace providers with no physical presence in Florida to collect <br />Florida Sales Tax. Staff estimates the passage of this bill will generate an additional $1 M in revenue. <br />15 <br />