Subject:
Title
Save Our Indian River Lagoon Contingency Fund Request for the City of Cocoa J and K Septic to Sewer Project
End
Fiscal Impact:
$545,373 from Save Our Indian River Lagoon Contingency Funds
Dept/Office:
Natural Resources Management
Requested Action:
Recommendation
It is requested the Board authorize a $545,373 funding increase for the Zones J and K Septic to Sewer Project
End
Summary Explanation and Background:
The City of Cocoa Zones J and K Septic to Sewer Project was included in the original Save Our Indian River Lagoon Project Plan in 2016 as two separate projects; Zone J to convert 78 lots at $825 per pound; Zone K to convert 34 lots at $738 per pound. In the 2021 Save Our Indian River Lagoon Project Plan Update, the City’s request was approved to combine the two projects and make minor adjustments to the project boundaries to capture 99 lots contributing 3,748 lbs/year of nitrogen to the lagoon. At the same time, the cost share was increased to $1500 per pound for a total Save Our Indian River Lagoon Cost Share of $5,622,000. After more detailed project design work, the City refined the project to convert 88 homes which adjusted the cost-share allocation to $5,467,559.
The City has now completed final design, but has not executed a cost share agreement with the County for this project. The City estimates total project costs to be $12,025,865. According to the attached letter request from the City, an additional $545,373 would bring the total local funding to 50% of the estimated costs. The City would use this local match to seek 50:50 state match (likely from the wastewater grant program) to fully fund the project.
A Contingency Fund Reserve, per Section 5.1 of the Save Our Indian River Lagoon Project Plan, includes funds to account for the impact of inflation on project delivery costs. Contingency requests of $100,000 or more require consideration by both the Citizen Oversight Committee and the County Commission. On September 16, 2022, The Citizen Oversight Committee voted to recommend approval of the City of Cocoa’s contingency funding request to the County Commission.
This request of $545,373 from the Contingency Fund Reserve amounts to a 9.7% increase in the cost share allocated in the Save Our Indian River Lagoon Project Plan for this project.
Clerk to the Board Instructions:
None