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charge. The special assessment funds are placed in the <br />MSBU Trust fund for payment of costs. Alternatively, the <br />existing Indian River County Special Assessment program <br />can be used by extending the 2 -year payback period to 5 <br />or 10 years. In this case, MSBU's would not be <br />necessary. An interest charge would be applied to unpaid <br />balances. Currently, the County pays 25% of the costs <br />for local road paving and 50% of the cost for Collector <br />or Arterial Road Paving. This percentage could remain. <br />An MSBU currently exists in the Vero Lakes Estates <br />Subdivision to fund a portion of the costs of paving, <br />drainage, and street light improvements. A small front <br />footage assessment is charged to fund a portion of the <br />costs. At one time, the MSBU assessment in Vero Lake <br />Estates for two years was $50/year/parcel acre. This <br />generated funds to pave four roads (approx 6 miles). A <br />similar program could be used for the Fellsmere area, <br />Oslo Park Subdivision, and other large rural areas. This <br />option results in a smaller cost over a large area for a <br />reasonable time frame. Due to low interest costs, funds <br />could possibly be borrowed from the State Infrastructure <br />Bank. <br />Option #2 - REDUCE ASSESSMENT COSTS BY CONSTRUCTING ALTERNATIVE <br />PAVEMENT (OPEN GRADED ASPHALTIC CONCRETE, <br />TYPES <br />SHELL/MARL BASE, ETC) This alternative can reduce costs <br />by as much as 5Q%, however, a higher maintenance paved <br />road may result in greater future costs for some roads. <br />For very low volume local roads serving less than 50 <br />lots, the option should be highly considered. <br />Option #3 - LEVY A 1C GAS TAX KNOWN AS "THE 9TH CENT FUEL <br />TAX" <br />DINGEach lfi of gas fax levied generates <br />approximately $475,000 (Local Option Gas Tax) - $582,000 <br />(9C gas tax)in annual revenue. If the paving program <br />becomes more aggressive, the County's obligation will <br />increase and more funds will be needed. The current low <br />price of fuel makes timing of this option favorable. St. <br />Lucie County currently levies the 9C gas tax and 11C of <br />Local Option Gas Tax whereas Indian River County only <br />levies 6t of Local Option Gas Tax. Martin County levies <br />8C of Local Option Gas Tax. Brevard County levies 6C of <br />Local Option Gas Tax. <br />INCREASE THE LOCAL OPTION GAS TAX BY 1C TO 5 TOPROVIDE <br />FUN - <br />DE <br />Option #4 - CHARGE ONLY DIRECT MATERIAL EXPENSE TO BENEFITED OWLNt,Kb <br />FOR SPECIAL ASSESSMENT PAVING AND DRAINAGE IMPROVEMENTS <br />BUILT BY IN-HOUSE CREWS - Currently the County charges <br />all applicable costs to a Special Assessment Project <br />(including surveying, engineering, administration, Road <br />January 15, 2002 <br />66 <br />