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File #: 18-2351    Version: 1
Type: Department Staff Report Status: Agenda Ready
File created: 9/26/2018 In control: Utilities Services
On agenda: 10/2/2018 Final action: 10/2/2018
Title: Uniform Septic to Sewer Policy
Indexes: Policy, Raftelis Financial Consultants, Rate Study, Septic to Sewer
Attachments: 1. Staff Report

Title

Uniform Septic to Sewer Policy

Recommended Action

Staff recommends the Board of County Commissioners create a septic to sewer policy and direct staff to:  Require benefiting property owners to pay a minimum of 33% of project costs; Solicit alternative funding options, which include various grants, to cover the remaining project costs; Use optional sales tax dollars as needed, not to exceed 25% of project costs; Establish a S2S financing interest rate to be the greater the maximum of either 2% or half of the current BCC approved rate. Current rate is 5% so the S2S rate would be 2.5%;  Extend the amortization period from ten years up to 20-year term and direct staff to work with the Indian River County Tax Collector to add the annual assessment fee to the property tax bill in order to assure a more consistent reimbursement cash flow for the project; and, Offer a S2S impact fee credit of 100% for those property owners who commit to connect to the sewer system before sewer is available to the property. For those property owners that connect within one year from service availability, provide a credit of 50% of the impact fee.