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!ot iaTO 2 -7o � Q _ 7o INTERLOCAL AGREEMENT DAVIS STREET SEWER MAIN AND LIFT STATION THIS INTERLOCAL AGREEMENT entered into on this 2nd day of nrt- nhor , 2012 between Indian River County , a political subdivision of the State of Florida , whose address is 1801 27th Street , Vero Beach , Florida 32960 ( " County") , and the City of Sebastian , a municipal corporation , whose address is 1225 Main Street , Sebastian , Florida 32958 ( " City" ) do hereby agree as follows : WITNESSETH : WHEREAS , the County is the water and wastewater provider to homes and businesses within the city limits of the City of Sebastian ; and WHEREAS , the County with the City ' s consent , expands its water and wastewater services in order to serve more residents and businesses within the city limits ; and WHEREAS , the County and City jointly agree that expansion of infrastructure is a form of economic development because private costs to develop infrastructure can be lowered , thereby leading to potential new business investment ; and WHEREAS , in order to lower the public cost of providing economic development incentives , the County and City will partner in order to expand infrastructure on Davis Street , which is located in the Riverfront Business District of Sebastian , Florida ; and WHEREAS , the County will extend a wastewater gravity sewer main along Davis Street between U . S . Highway 1 and Indian River Drive ; and WHEREAS , the County will also construct a wastewater lift station at the northwest corner of Davis Street and Indian River Drive ; and WHEREAS , the parties recognize the mutual benefits that will be provided to each other pursuant to this agreement . NOW, THEREFORE , in consideration of the mutual undertakings herein and other good and valuable consideration , the receipt and adequacy of which is hereby acknowledged , the parties agree as follows : 1 . RECITALS . The above recitals are true and correct and are incorporated herein . 1