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RESOLUTION N0. 2007- 02 - <br /> A RESOLUTION OF THE BOARD OF COUNTY <br /> CONMSSIONERS OF INDIAN RIVER COUNTY, <br /> FLORIDA, AUTHORIZING THE CHAIRMAN TO <br /> EXECUTE JOINT PARTICIPATION AGREEMENTS WITH <br /> THE FLORIDA DEPARTMENT OF TRANSPORTATION <br /> TO ADVANCE CONSTRUCTION OF SEGMENTS OF <br /> STATE ROAD 60 <br /> AREAS, the anticipated transportation demands on State Road 60 from 66th Avenue <br /> to 82nd Avenue and from 82nd Avenue to I-95 the Se ue <br /> established in the Comprehensive Plan; and Segments) will exceed the level of service <br /> WHEREAS, if improvements are not made to the Se <br /> of service, applications for New Development would be denied theyand awould not <br /> the Level <br /> requirements of.the Concurrency Management System; and meet the <br /> WHEREAS, improvement to the Segments will eliminate existin <br /> create new capacity on the Segments ; and g deficiencies and <br /> WHEREAS, in order for the Segments to meet the requirements of th <br /> Management System, the improvements must appear e Concurrency <br /> Department of Tr PPear in the first three years of the Florida <br /> Transportation' s work plan; and <br /> WHEREAS, in order for the improvements to the Segments . to a <br /> years of the FDOT work plan, the County must supply Pl? Y 1 the funding to FDOTpear in: me t three <br /> �'�REAS, the County, by resolution, has determined to agree with the Florida <br /> Department of Transportation to enter into Advance Construction A <br /> advance construction of the Se Agreements providing for the <br /> cost of construction by the County; and provements conditioned upon the advancement of their <br /> WHEREAS, the Advance Construction Agreements will provide for reimbursement <br /> the County from available State and Federal Funds of the principal amount advanced but do not <br /> provide or allow for any reimbursement to the County for the Interest Component; and <br /> WHEREAS, the County and FDOT have agreed to enter into a Joint Participation <br /> Agreement for advancing construction of SR 60, whereby construction funding P <br /> $38 Million will be advanced by Indian River Cour g of approximately <br /> will be advanced by Indian River CountyCounty in 2007/08, and an additional $30 million <br /> in 2008/09; <br /> STATE OF FLORIDA E <br /> ' INDIAN RIVER COUNTY <br /> THIS IS TO CERTIFY THAT THIS 18 <br /> ATRUE AND CORRECT COPY OF <br /> THE ORIGINAL ON FILE IN THIS <br /> OFFICE . <br /> JEFFREY K. BARTON, CLERK <br /> By f !SC4_�n) .C. <br /> DATE , - Ct g <br />