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410 <br />40 <br />EXECUTIVE SUMMARY <br />Introduction <br />Indian River County has approximately 22 miles of barrier island beaches from <br />Sebastian Inlet south to Round Island Park, approximately eight (8) miles (36 <br />percent) of which are considered critically eroded. In April 1998, the Coastal <br />Engineering Division of the Indian River County Public Works Department <br />submitted an updated version of the Indian River County Beach Preservation <br />Plan (BPP) adopted in 1988. The updated BPP divider! the County's coastline <br />into eight (8) planning sectors. Each sector is characterized by the same degree <br />of beach erosion, morphological and upland characteristics, densities and types <br />of land use, existing beach widths and the existence of erosion control structures. <br />The BPP determined that the County's coastline is experiencing an annual <br />erosion rate of 187,218 cubic yards per year and recommended beach <br />nourishment or restoration as the most cost-effective corrective action. Critical to <br />the implementation of the BPP was the identification and creation of sources to <br />fund the projects. <br />This report examines the overall economic viability of the proposed beach <br />nourishment program and quantifies the benefits to be derived by individual <br />beneficiary groups over,the 30 -year project horizon. Four project areas are <br />proposed for sand replenishment as described in the BPP These four (A) project <br />areas correspond to Sectors 1 & 2 (Ambersand Beach), Sector 3 (Wabasso <br />Beach), Sector 5 (Vero Beach) and Sector 7 (South County Beach). <br />Implementation of the beach nourishment project will provide two distinct types of <br />benefit: (1) storm protection benefit to the coastal property, and (2) recreational <br />benefit to the total community. These benefits were used to allocate the project <br />cost to various user groups and identify appropriate funding sources. <br />