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ITEM: ACME IMPROVEMENT DISTRICT
RESOLUTION NO. AC2014-04 (ENGINEER'S REPORT FOR THE PROPOSED FIRST AMENDMENT TO THE 2010 ACME IMPROVEMENT DISTRICT WATER CONTROL PLAN)
A RESOLUTION OF BOARD OF SUPERVISORS OF THE ACME IMPROVEMENT DISTRICT APPROVING THE ENGINEER'S REPORT FOR THE PROPOSED FIRST AMENDMENT TO THE 2010 WATER CONTROL PLAN; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approval of Resolution No. AC2014-04 approving the Engineer's Report for the proposed First Amendment to the 2010 Acme Improvement District Water Control Plan.
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EXPLANATION: Pursuant to Chapter 298 of the Florida Statutes, if amendments to AID's Water Control Plan require the increase of any levy of assessments beyond the maximum amount previously authorized by law or create a change in the use of said assessments or create a substantial change to district facilities, then AID must formally amend its Water Control Plan in accordance with the process outlined in Chapter 298. In this case, the revised Capital Improvement Plan proposed in this plan amendment will require an increase in the per unit assessment amount currently authorized by the AID Board. Therefore, the process outlined in Chapter 298 must be followed.
This Resolution approves the Engineer's Report for the proposed First Amendment to the 2010 Acme Improvement District (AID) Water Control Plan (Exhibit A). On February 25, 2014, the AID Board approved Resolution No. AC2014-01 (Attachment 1) providing for the consideration of an amendment to the Water Control Plan. On April 22, 2014, the AID Board approved Resolution AC2014-02 (Attachment 2) authorizing and directing the District Engineer to prepare and file an amended Engineer's Report for the proposed plan amendment. On May 29, 2014, the Engineer's Report was filed with the District Secretary. The next step in the process is to conduct this Public Hearing to discuss and consider the Engineer's Report (Exhibit B). If approved, the Engineer's Report will be used to develop the 2014 assessment role.
As required by Chapter 298 of the Florida Statutes, the proposed Engineer's Report addresses three (3) key items: 1) Identification of Required Lands; 2) Determination of Benefits and Damages and 3) Estimation of Construction Cost and Required Assessment. A summary of key findings in the Engineer's Report are as follows:
1) Lands - All proposed improvement projects will be constructed on land currently under the control of AID. No additional land is required.
2) Benefits/Damages - The estimated benefits ($31,909,000) derived from the proposed improvement projects exceed the estimated costs ($23,298,500). These estimates are in 2014 dollars. No damages were identified.
3) Construction Cost and Assessment - Seventeen (17) improvement projects, designed to improve storm water conveyance and the overall performance of the storm water management system, are proposed in the plan amendment. The total estimated cost of the improvement projects is $23,298,500 (2014 dollars). If a one-time assessment was levied, the per unit assessment would be $844.64. If the projects are financed, the required, estimated, annual per unit assessment to fund the projects ranges from approximately $69.54 (20 year bond) to $116.14 (10 year bond). Under a "pay-as-you-go" strategy, whereby funding collection and project delivery would occur over a ten (10) year period, the estimated annual per unit assessment would be approximately $103.91. The existing annual per unit assessment of $200 already is committed completely to ongoing capital projects and the operation and maintenance of the District. In order to fund the proposed projects, the annual per unit assessment would need to be increased by an amount ranging from $69.54 to $844.64, depending on the project delivery and financing methodology selected.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: YES QUASI-JUDICIAL: NO
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: Depending on the delivery method and financing option selected, the total amount of additional funding required ranges from $23,298,500 (one-time assessment) to $36,441,400. In order to fund the projects, the current annual per unit assessment must be increased and collected.
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Approval of Resolution No. AC2014-04 approving the Engineer's Report for the proposed First Amendment to the 2010 Acme Improvement District Water Control Plan.