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11.G.2. ALLOCATION OF DISTRICT 3 TRAFFIC IMPACT FEES <br />FOR BARBER STREET IMPROVEMENTS - INTERLOCAL <br />AGREEMENT WITH CITY OF SEBASTIAN <br />The Board reviewed a Memorandum of March 14, 2000: <br />TO: James E. Chandler, <br />County Administrator <br />FROM: James W. Davis, P.E. <br />Public Works Directo <br />il <br />SUBJECT: Request from City of Sebastian <br />Traffic Impact Fees for Barber <br />for Allocation of District 3 <br />Street Improvements <br />REF. LETTER: Terrence Moore, City Manager, to James Davis dated March 3, 2000 <br />DATE: March 14, 2000 <br />The City of Sebastian is experiencing rapid growth. As a result, <br />the level of service on Barber Street west of US 1 is <br />deteriorating, particularly at the intersection of Barber Street <br />and Schumann Drive. To resolve the congestion, the City has <br />identified the need for improvements estimated to cost $400,000. To <br />fund the project, the City Manager is requesting a $200,000 <br />allocation from District 3 Traffic Impact Fee Fund(as established <br />prior to Sept. 1999). The City will match the funding from other <br />revenue sources. <br />As of 12/31/99, there exists $903,741.68 in the old District 3 <br />Traffic Impact Fee fund. The funds were to be used as follows: <br />Barber Street bridge widening - City of Sebastian $ 135,000 <br />CR 512 Widening, Phase III S 660,000 <br />(Total project cost est. $2,815,400 + R/W) $ 795,000 <br />Remaining unencumbered funds available - $ 108,741.68 <br />APRIL 4, 2000 <br />