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• PREPARED JAMES D. CHAST AND STAFFED MANAGER OF BY: DEPARTME SUBJECT: ENT PROJECTS ITY SERVICES DIXIE HEIGHTS, A PORTION OF DIXIE GARDENS ANT) PINEY OAKS SUBDIVISIONS WATER ASSESSMENT PROJECT INDIAN RIVER COUNT\ PROJECT NO. UW -93 -34 -DS RESOLUTION IV — FINAL ASSESSMENT BACKGROUND On May 16, 2000 at a public hearing the Indian River County Board of County Commissioners approved Resolution III No. 2000-061 for the preliminary assessment roll for the above described protect Construction of the project has been completed. The Florida Department of Environmental Protection issued clearance letters and on February 16. 2001 property owners. South of 15th Street SW were mailed notification that the water lines were available and that connections may begin. On March 12 2001 similar notices were mailed to the remainder of the projects owners. Through May 22 2001, 112 applications for connections have been received. This represents 28% of the 405 homes. "Fourteen (14) of these applications were marked, "no water, .. ell going dry, please rush ASAP." 50 of the $1.300.00 capacity charges were paid, (S65 000.00) and 62 were financed. (580,600.00) over 5 years in monthly principal and interest installments of S26.67. Total paid and financed capacity charges of $145,600. Staff is requesting the Board's approval of the final assessment roll. (See attached minutes - ATTACHMENT 1) of the above meeting. ANALYSIS The preliminary assessment was for an estimated amount of 51.379,997.35. which equated to 50.260709 (rounded) per square foot of property assessed. The competitive bid process along with the Utilities Department funding of a master planned 12 -inch water main through the community resulted in a 36.9% reduction in the preliminary assessment costs. The portion of the final project cost to be assessed (see attached Resolution IV and the accompanying assessment roll — ATTACHMENT 2). is 5903.5 71.77 which equates to a cost of $0.186547 (rounded) per square foot and is a project cost reduction of S476.425.58 (34.5%). The final assessment is 50.0742 per square foot (28.46 %) less than the preliminary assessment. Equalization reductions have reduced the onginal assessment square footage from 5,293 258 in the preliminary assessment to 4 843.684 square feet in the final assessment- therefore these two percentages are different. The assessment of a typical 50 -foot lot will be reduced from the preliminary assessment of S 1,303.54 to a final assessment of 5 932.73 for a reduction of S 370.81 Equalization adjustments have been made as staff was instructed at the May 16th, 2000 public hearing and staff proposes further reductions in the assessments for the Helseth Estate and the Florence Sabonjohn properties. which are the two (2) largest parcels in the proiect. The 150 -foot depth rule was applied to these properties and staff recommends reducing this to a maximum of 100 -foot in depth to coincide with the standard single family residential lots in the area. These parcels would still be assessed for 157.534 and 97,000 square feet respectfully. RECOMMENDATION The staff of the Department of Utility Services recommends that the Board of County Commissioners approve adoption of Resolution I\ , which is anacned and authorize the chairman to execute same. LIST OF ATTACHMENTS: July 10, 2001 Attachment .1) Minutes of May 16, 2000 BCC meeting Attachment .2) Final assessment summary Attachment .3) Map of the project area 29 BK II8PG830 •