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operating a commercial gymnasium within the RID. These issues require resolution prior <br />to finalizing a petition for RID formulation. A final issue must be resolved prior to RID <br />formulation: the idea of a latecomers agreement. Some of the larger parcels have the <br />ability to further subdivide. Providing some lots subdivide in the next several years, we <br />want the ability to capture costs associated with increased traffic on the road. As PW is <br />responsible for maintenance of the road through the life of the RID, increased <br />maintenance costs could be offset by attaching a latecomers agreement to the RID. The <br />community does appear to be anxious to finalize the petition and move towards <br />construction. <br />FISCAL IMPACTS: <br />The improvement is estimated to cost $450,000. PW is using an interest rate of three <br />percent, ten year cost recovery period with payment at the beginning of the cost recovery <br />period. Using 63 lots, the cost per lot is estimated at approximately $840/year. <br />ATTACHMENTS: <br />Exhibit 1: RID Boundary Map <br />Exhibit 2: RID design <br />Page 2 of 4 <br />PUBLIC WORKS BOARD OF COUNTY COMMISSIONERS WORK SESSION STAFF REPORT <br />