Subject:
Title
Approval RE: Transportation Impact Fee Technical Advisory Committee for the Merritt Island/North Beaches Benefit District Project Funding Recommendations (Districts 2 and 4).
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Fiscal Impact:
FY19/20: The $121,901.00 in unexpended funds and accumulated interest from the completed projects is held in Fund 1229 which is a part of the Public Works Department budget. These funds will be re-appropriated to the recommended project and stay in Fund 1229. The $1,732,888.16 in unappropriated funds represent funds carried forward from the prior fiscal year ($1,334,665.96), new transportation impact fees collected in the unincorporated areas prior to June 30, 2020 ($391,770.00) and pro rata interest earned on these funds while on deposit in Fund 1209 which is the Transportation Impact Fee Trust Fund for the Merritt Island/North Beaches Benefit District. They are currently budgeted as Reserves for Capital Outlay ($1,724,781) with the balance ($8,107.16) budgeted for prior year refunds. If approved, the budget for Prior Year Refunds will be reduced by $8,107.16 and the budget for Reserves for Capital Outlay will be reduced to zero and these funds ($1,732,888.16) will be budgeted as an intra-fund transfer to Fund 1229.
Dept/Office:
Planning and Development Department
Requested Action:
Recommendation
It is requested that the Board of County Commissioners consider approval of the project funding recommendations in the amount of $1,854,789.16 as prepared by the Technical Advisory Committee for the Merritt Island/North Beaches Benefit District on August 7, 2020; and authorize the Budget Office to execute any budget change requests necessary for implementing these appropriations.
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Summary Explanation and Background:
The Technical Advisory Committee for the Merritt Island/North Beaches Benefit District met on August 7, 2020 and unanimously adopted the project funding recommendations itemized below. The Technical Advisory Committee for the Merrit...
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