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Limit of Indian River Drive connection to US Highway 1, and the Southern Limit as Main Street. Also included in the study is an area known as Ercildoune Heights located north of Roseland Road west of US Hwy 1 primarily consisting of residential parcels. Since, the corridor along US Hwy 1 contained commercial developed and undeveloped parcels the analysis evaluated the cost of each alternative based upon an Equivalent Residential Unit or ERU versus per parcel cost. The subject study estimated a potential of 720 ERU's for the study area The following table summarizes the findings for each alternative: Alternative Project Cost Per ERU Cost Gravity $ 5,000,000.00 $ 6,944.44 Vacuum (Gravity along US 1) $ 6,600,000.00 $ 9,166.67 Low Pressure (Gravity along US1) $ 8,600,000.00 $ 11,947.44 STEP $ 7,100,000.00 $ 9,861.11 The subject study recommended the gravity alternative as the preferred method for a centralized sewer system. The construction of the centralized sewer in the north Sebastian area will be accomplished on a phased approached. The area east of US Hwy 1 will be designed and constructed in the first phase. Ercildoune Heights and the area to the west of US Hwy 1 will be part of phase two. There are numerous benefits to be gained by construction of a sanitary sewer collection and conveyance system in the study area. One primary benefit of the sanitary sewer collection and conveyance system construction in the study area is the ability for many commercial areas to be developed without the need for considering the limitations caused by the use of septic systems which can ultimately serve as an economic benefit to the area and a TMDL reduction to the Lagoon. 111 FINANCING/FUNDING: Currently there are no funding programs/mechanisms available to assist homeowners replacing failing systems or installing new systems other than financing the impact fee. The impact fee can be financed for a 5 -year period. Currently projects constructed as part of an assessment can be financed for a 10 -year period. Although, the County has not financed any capital cost beyond a 10 - year period in the past other jurisdictions in Florida have financed capital projects for a. 20 -year period. Therefore staff included a 20 -year option in the table below. Staff has also explored grant prospects as a funding mechanism to offset some of the project cost. One such grant the staff is evaluating is the Cooperative Funding for FY 2014-2015 administered by St. Johns River Water Management District. Obtaining grant funds to help reduce the Targe capital costs will be critical to ensure project success. Note: The cost per ERU is based on $ 6,944.44 These cost do not include the impact fee charge of $ 2,796/ERU • • 86 Financing Mechanisms Parcels Connecting- Share 5 -Yr Plan - Avg Monthly Payment Plan Avg 20 -Yr Plan- Avg Monthly Payment 10 -Yr — Monthly Payment Study Area -Customers 100% $ 133.45 $ 76.23 $ 48.76 Note: The cost per ERU is based on $ 6,944.44 These cost do not include the impact fee charge of $ 2,796/ERU • • 86