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INTERACTION: <br />Public Works <br />RECOMMENDATION: <br />While state statue allows the use of bonding to fund RIDs, Public Works is suggesting <br />Road Fund (109) reserves as the project funding mechanism. Public Works is currently <br />earing various rates of return on investments with the County Treasurer's office. Current <br />rate vary from 1.7 to 2.5 percent. If the BOCC concurs, RID 2018-01 Wiehl Road could <br />go forward with a lot count of 65 and a reduced interest rate of 2.5%. <br />This equates to approximately $728.10 per lot per year for a 15 year period using a total <br />lot count of 65. Reducing the number of lots from 65 to 60 (counting only one of the six <br />lots as requested); raises the annual per lot payment to $788.77. It might be prudent to <br />capture all six lots now and credit back the lot owner once the final number of lots is <br />determined post conservancy. This represents a consistent approach taken with all other <br />lot owners. <br />HANDLING: <br />Return one original to Public Works <br />ATTACHMENTS: <br />Ordinance formulating RID 2018-01 Wiehl Road <br />LEAD STAFF: <br />Mark R. Cook, Director <br />