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1999-017
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1999-017
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Last modified
7/6/2023 1:59:49 PM
Creation date
7/6/2023 1:54:27 PM
Metadata
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Template:
Official Documents
Official Document Type
Miscellaneous
Approved Date
01/19/1999
Control Number
1999-017
Subject
Indian River County Beach Preservation Plan/Economic Analysis and Cost
Allocation Plan/Prepared by Applied Technology & Management, Inc. (ATM)
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CA <br />• <br />Description of Beach Restoration Project <br />During the initial nourishment, offshore material will be brought onto the beach to <br />create additional width and height at an elevation suitable to protect the upland <br />property and infrastructure from a moderate to severe storm event. <br />Implementation of the project should enable any individually considered shoreline <br />restoration segment to incur damages from a 15 -year return interval storm at any <br />time between the initial restoration and subsequent renourishments. <br />The beach will be renourished at intervals of approximately 8 years throughout <br />the 30 -year project horizon. An eight (8) -year renourishment interval was sought <br />for project cost effectiveness, maximum funding participation by the Florida <br />Department of Environmental 'Protection (FDEP), and realistic sand placement <br />volumes as advance nourishment. A 15 -year design level storm was determined <br />to provide the optimum project volumetric requirements. <br />The present value of the initial nourishment project is approximaieiy <br />$14,602,000. When projected over a 30 -year horizon, the present value of all <br />restoration and renourishment costs for improvements to Sectors 1, 2, 3, 5 and 7, <br />inclusive, is approximately $43,023,108. <br />Storm Protection Benefit <br />The storm protection benefit resulting from the beach nourishment program was <br />computed for each parcel of property, he 11..11 I -act ..._ <br />..r---.-- p.�.a �'� p up �y, 1 IIG IVIIl1 YYl11'� Ip.4LV l.9 1lVGIC ICiM1GII InLL) <br />consideration: (1) anticipated land loss from erosion if the project was not <br />completed, (2) value of land that would be lost, (3) construction cost of erosion <br />control structures required if the project was not completed, and (4) maintenance <br />cost of erosion control structures. The aggregate net present value of the storm <br />protection benefit for all property abutting the project over a 30 -year project <br />horizon is estimated at $27,444,286. <br />
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