PLACEMENT: Public Hearings
TITLE:
title
PUBLIC HEARING AND FINAL ASSESSMENT RESOLUTION FOR THE HIBISCUS PARK / PARAMOUNT ESTATES WATER MAIN MUNICIPAL SERVICE BENEFIT UNIT
end
EXECUTIVE SUMMARY:
executive summary
Board action is requested to adopt the final assessment resolution for the Hibiscus Park / Paramount Estates Water Main Municipal Service Benefit Unit to allow installation of water lines.
body
DEPARTMENT: Utilities and Solid Waste
PREPARED BY: Name: Phil Keathley
Title: Senior Project Manager
REQUESTED BY: Samuel Amerson, P.E., Utilities & Solid Waste Director
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
This Department is in receipt of a petition from the residents of Hibiscus Park/Paramount Estates requesting a survey of the property owners for the purpose of determining interest in extending water service into the community. The proposed project area is generally described as properties fronting S.E. Avalon Drive, S.E. Normandy Avenue, S.E. Paramount Drive, S.E. Bamboo Street, S.E. Orchid Street, S.E. Banyan Street, S.E. Cypress Street, S.E. Rosemont Avenue, S.E. Cable Drive, S.E. Orange Tree Place, S.E. Lime Tree Place, S.E. Mimosa Street, S.E. Hibiscus Street, S.E. Indigo Avenue, S.E. Laguna Avenue and S.E. Pine Avenue presently without availability of public water supply.
There are 475 properties in the project area.
The affected property owners in this project area were sent ballots on 3 different occasions depending upon the number of responses to the 1st and 2nd ballot requests. The ballots indicated that the estimated cost of the project would be between $6,500 and $7,500 per property. The final tally of all the ballots received to date, as verified by the Martin County Supervisor of Elections office, indicate 233 properties FOR the project, 111 AGAINST and 131 that did not vote.
A Florida Department of Environmental Protection Construction Permit has been received and cost proposals from the Martin County annual underground utility contractors were opened on June 26, 2018. Underground Construction Management, Inc. submitted the lowest responsive proposal.
A staff level workshop was held on August 29, 2018 to explain the project scope, costs and the assessment process. All of the 475 affected property owners were mailed invitations to that workshop.
Based on the final design, the initial prepayment amount is $6,238 per equivalent residential connection (ERC) which is less than the estimated range as outlined in the ballots mentioned above. Amortizing the project over a 15 year period will result in an estimated annual payment of $625.64 per ERC at an interest rate not to exceed 4.25%. The estimated annual payment also includes annual costs related to preparation and collection of the roll each year totaling 8.75% (consisting of 2% for the Tax Collector fee, 2.75% for the tax roll and legal consultants, and a 4% adjustment for early tax bill payments). This project will be financed through internal borrowing from the Utilities reserves. The annual payment will be included in the tax bill commencing with the bill mailed in October 2019. The proposed assessment will include 475 properties at 475 ERC’s.
As required by the initial assessment resolution adopted by the Board on August 14, 2018, the notice for the hearing was advertised in the Stuart News and individual notices were mailed to each property owner proposed to be assessed at the mailing address indicated on the tax roll.
ISSUES:
None
LEGAL SUFFICIENCY REVIEW:
Chris Traber, the County’s Special Assessment Counsel, has prepared the resolution, reviewed the agenda item summary and confirmed that the form of each is proper.
RECOMMENDED ACTION:
RECOMMENDATION
Move that the Board adopt the Final Assessment Resolution to create the Hibiscus Park/Paramount Estates Municipal Services Benefit Unit.
Move that the Board approve a $2,164,000.00 budget transfer from Consolidated Utilities reserves into the Hibiscus Park/Paramount Estates project as an internal loan financing for the project.
ALTERNATIVE RECOMMENDATIONS
Do not adopt the Final Assessment Resolution.
Do not approve the budget transfer.
FISCAL IMPACT:
RECOMMENDATION
The Utilities Department proposes to provide internal financing to property owners at an interest rate not to exceed 4.25% for 15 years from reserves of the Consolidated Utilities fund.
ALTERNATIVE RECOMMENDATIONS
None
DOCUMENT(S) REQUIRING ACTION:
☒Budget Transfer / Amendment ☐ Chair Letter ☐Contract / Agreement
☐Grant / Application ☐Notice ☐Ordinance ☒Resolution
☐Other: