Agenda 09/09-10/2008 Item #16J 1
AGENDA 1TE T
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EXECUTIVE SUM~=~- _' __~o.
Approve the cash payment option for a special assessment relating to County owned property in
the West Winterberry Assessment Area.
OBJECTIVE: Approve the cash payment option for a special assessment relating to County owned
property in the West Winterberry Assessment Area.
CONSIDERATIONS: The City Council of Marco Island, Florida has initiated the Septic Tank
Replacernent Program (STRP) to construct wastewater treatment capacity and collection
irnprovements. These improvements will provide central wastewater service to non-sewered parcels
located within the City.
The STRP is funded, in whole or part, through (I) the imposition of special assessments upon those
properties receiving the extended central sewer collection system, (2) grants that have or may be
received for the program, and (3) other legally available revenue sources that have been or may be
determined to be appropriate.
The Collier County property (parcel ID # 57640280000) is located in the West Winterberry
Assessment Area and is utilized by the Tax Collector's Office. The City Council adopted Assessment
Resolutions No. 06-35, on September 5, 2006 which established the West Winterberry Assessment
Area and, Resolution No. 06-57 on properties in such areas. The construction is now complete and
three payment options are available. The cash payment option is $15,255.07, which represents a six
percent prepayment discount. In addition, equal annual payments of $ I ,347.00 can be made for twenty
(20) years (totaling $26,940.00) or the entire payment can be deferred for twenty years and then paid at
a total cost of $51,063.63. The cash payment option provides substantial savings over either of the
latter options.
FISCAL IMPACT: Funds totaling $15,255.07 required for the cash payment option are available in
the General Fund's BCC for Tax Collector cost center.
GROWTH MANAGEMENT IMPACT: There is no growth management impact.
RECOMMENDATION: That the Board of County Commissioners approves the cash payment
option outlined in this executive summary.
Prepared By: Derek M. Johnssen, Gcneral Accounting Manager, Dcpartmcnt of Finance and
Accounting
AGENDA ITEM 11
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Approve the cash payment option for a special assessment relating to County owned property in
the West Winterberry Assessment Area.
Prepared By:
Department
Information Technology
Date
8/28/20083:54:42 PM
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Approved By:
Department
Approval
Date
County Approved
Manager's Office
8/31/20082:26 PM
ATTACHMENTS:
Name:
Description:
Type:
Executive Summary
~E~S:.Qutivesl!!J1!llil,rvwin1eLQerOL~SSJ]lJmt..dQC Executive Summary