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• <br />RACKGROTTND & ANALYSTS <br />Inlet at Sebastian, LLC is proposing a residential development located from Indian River Drive to just west of <br />Old Dixie Highway, south of Roseland Road. A master planned water main had previously been scheduled for <br />construction along Roseland Road and Old Dixie Highway on an as -needed basis driven by development. <br />Funding of master planned water mains enables developers to extend an over -sized water main, as proposed in the <br />Water and Wastewater Mater Plan, to their property. As future development continues adjacent to the proposed <br />water main and developers connect, the required line extension fees will be applied such that a certain portion of <br />the subject water main's costs will be reimbursed to the County. <br />Attached is a proposed Developer's Agreement with Inlet at Sebastian, LLC for reimbursement of a portion of <br />the subject water main. Upon payment of capacity charges, the Developer's Agreement is stipulated to reimburse <br />the Developer for the County's share of the water main based on itemized invoices of installed materials on a <br />percentage complete basis -less 10% retainage, monthly, with final payment and release of retainage at the time <br />said facilities are dedicated to the County (S C — I .A of attached agreement). Capacity charges for the subject site <br />total $335,872.00. <br />As shown in Exhibit - B of the attached Agreement, the County's share and Developer's share for <br />installing the recommended improvements are tabulated below and included in the attached Developer's <br />Agreement as follows: <br />RFC OMMFNDATTON• <br />The staff of the Department of Utility Services recommends that the Board of County Commissioners <br />approve the attached Developer's agreement as presented & authorizes the Chairman to execute the same. <br />T,TST CDF ATTACHMENTS• <br />Attachment -A. Proposed Developer's Agreement <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Commissioner Ginn, the Board unanimously approved the <br />proposed Developer's Agreement with The Inlet at Sebastian, <br />LLC, and authorized the Chairman to execute the same, as <br />recommended in the memorandum. <br />Chairman Stanbridge specified that, although this development had been referred to <br />the Historic Resources Committee, this has not come before the Committee yet. <br />AGREEMENT IS ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />• <br />September 3, 2002 <br />119 <br />(ji1 l 2 <br />Description <br />Water <br />Distribution <br />System':' <br />Developer's Share <br />$11,925.00 <br />County's Share <br />$472,714.50 <br />Total <br />Project Cost <br />5484,639.50 <br />Less Capacity Charges <br />$335,872.00 <br />Total County Output <br />$136,842.50 <br />RFC OMMFNDATTON• <br />The staff of the Department of Utility Services recommends that the Board of County Commissioners <br />approve the attached Developer's agreement as presented & authorizes the Chairman to execute the same. <br />T,TST CDF ATTACHMENTS• <br />Attachment -A. Proposed Developer's Agreement <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Commissioner Ginn, the Board unanimously approved the <br />proposed Developer's Agreement with The Inlet at Sebastian, <br />LLC, and authorized the Chairman to execute the same, as <br />recommended in the memorandum. <br />Chairman Stanbridge specified that, although this development had been referred to <br />the Historic Resources Committee, this has not come before the Committee yet. <br />AGREEMENT IS ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />• <br />September 3, 2002 <br />119 <br />(ji1 l 2 <br />