Coversheet

Item Coversheet

ITEM 1.
PUBLIC HEARING - 9:30 AM


AGENDA ITEM REPORT

DATE:	April 3, 2018
DEPARTMENT:	Budget Services
REQUESTER:
TITLE:	Conduct a Public Hearing to Approve a Resolution Creating the Sunset Cove Channel Dredge (CIP)

I.	MOTION REQUESTED
	A. Conduct a Public Hearing to consider and approve a resolution to create the Sunset Cove Channel Dredge Capital Improvement Program (CIP) Municipal Service Benefit Unit (MSBU). B. Adopt a resolution of intent to reimburse which allows the County to reimburse itself from long term loan proceeds for any expenditure made on behalf of this project.

II.	ITEM SUMMARY
	Creates the Sunset Cove Channel Dredge Capital Improvement Program Municipal Services Benefit Unit.

III.

BACKGROUND AND IMPLICATIONS OF ACTION

	A)	Board Action and Other History
		The MSTBU office received 32 petitions (of the 61) in favor of this project, therefore meeting the required 50% + 1. The estimated cost of the project is $393,395. The proposed methodology that will be used is Per Parcel Basis. The anticipated cost per parcel is $6,449. The residents will have a choice to pay off the assessment up front or amortize the assessment over a period of years depending on the financing program in place at the completion of the project. The adoption of the Resolution of Intent to Reimburse allows the County to reimburse itself from loan proceeds for expenditures made on behalf of the project that were made in advance of obtaining short term financing from Fund 10400/30400.

	B)	Policy Issues

	C)	BoCC Goals

	D)	Analysis
		The estimated cost of the project is $393,395. The anticipated cost per parcel is $6,449.

	E)	Options
		Adopt resolutions to create the unit and reimburse itself - implications as described above. Decline to adopt resolutions and do not create the unit.

IV.

FINANCIAL INFORMATION

	A)	Current year dollar amount of item:	No funding required.
	B)	Is this item approved in the current budget?	No
	C)	Is this a revenue or expense item?
	D)	Is this Discretionary or Mandatory?	Mandatory State Statute 125.01, Ordinance 98-25, Adm Code 3-15
	E)	Will this item impact future budgets? If yes, please include reasons in III(D) above.	Yes
	F)	Fund: MSTBU District Program: Project: Sunset Cove Channel Dredge Account Strings: 10400-30400
	G)	Fund Type?	Other: MSTBU
	H)	Comments:

V.	RECOMMENDATION
	Approve

VI.	TIMING/IMPLEMENTATION

VII.	FOLLOW UP

ATTACHMENTS:
Description	Upload Date	Type
To Establish	2/27/2018	Resolution
Resolution of Intent - Reim	2/5/2018	Resolution
Letter to PO and handouts	2/5/2018	Backup Material
Statistical Report	2/5/2018	Backup Material
Map	2/22/2018	Backup Material
Assessment Roll	2/22/2018	Backup Material
Notice of Intent (Advertisement)	2/22/2018	Backup Material
040318R-PH1-Reso 18-04-06-Sunset Cove	4/11/2018	Resolution
040318R-PH1-Reso 18-04-07-Sunset Cove	4/11/2018	Resolution

REVIEWERS:
Department	Reviewer	Action	Date
Budget Services	Winton, Peter	Approved	2/5/2018 - 2:33 PM
Budget Services	Answerer	Approved	2/5/2018 - 3:35 PM
Budget Services	Winton, Peter	Approved	2/9/2018 - 2:37 PM
County Attorney	Fredyma, John J.	Approved	2/22/2018 - 8:27 AM
County Manager	Winton, Peter	Approved	2/23/2018 - 6:11 AM