PLACEMENT: Consent
TITLE:
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INITIAL ASSESSMENT RESOLUTION FOR THE SE FLAMINGO DRIVE/SE KARIN STREET MUNICIPAL SERVICE BENEFIT UNIT
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EXECUTIVE SUMMARY:
executive summary
Board action is requested to adopt the Initial Assessment Resolution to allow for the paving of SE Flamingo Drive from SE Duncan Street to the northern terminus and the extension of SE Karin Street (an unopened right-of-way) approximately 220 feet west to SE Flamingo Drive.
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DEPARTMENT: Public Works
PREPARED BY: Name: George Dzama, P.E.
Title: Capital Projects Manager
REQUESTED BY: SE Flamingo Drive Property Owners
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
The Public Works Department is in receipt of a majority ballot vote from the property owners adjacent to SE Flamingo Drive for Martin County (County) to pave and perpetually maintain 595 feet of SE Flamingo Drive from SE Duncan Street to its north end near the Eaglewood Golf and Tennis Community. SE Flamingo Drive is an open public road located in Hobe Sound, Florida that is currently privately maintained. There are seven properties in the proposed project area.
The affected property owners in this project area were sent ballots indicating that the estimated cost of the project would be between $16,015 and $19,991.50 per property. The final tally of all the ballots received to date as verified by the Martin County Supervisor of Elections office indicate 5 properties FOR the project, 0 AGAINST and 2 that did not vote.
Based on the final design and assuming a County contribution is made as described below under Issues, the initial prepayment amount is $16,015.00 per parcel unit (single family dwelling unit equivalent) which is below the estimated range as outlined in the ballots mentioned above. Amortizing the project over a 10 year period at an interest rate of 4.25% will result in an estimated annual payment amount of $1,999.15 per parcel unit. The annual payment also will also in...
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