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C.7 <br />• <br />Recreational Benefit <br />Recreational benefits were more difficult to quantify. For purposes of this report, <br />the total recreational value of Indian River County beaches to an individual is <br />estimated as the average value of a day at the beach multiplied by the number of <br />days spent on average at the beach. To determine the recreational benefits <br />associated with the projects identified in the BPP, a beach surrey was conducted <br />to ascertain the characteristics of beach users on the Indian River County's <br />beaches. The survey was conducted on various dates between August 13 and <br />October 11, 1998. The survey determined that the average amount beach <br />visitors would be willing to pay for a day's beach use is $11.71. The average <br />value of a day at the beach was multiplied by the number of days spent on <br />average at the beach for each sector to determine the total recreational benefits. <br />The net present value of the recreational benefits over the 30 -year project <br />horizon is estimated at $59,322,518 for the entire project area. <br />Project Cost Allocation <br />The cosi for each project area was allocated to storm protection benefit and <br />recreational benefit based upon the relative amount of each that is attributable to <br />each specific project area. For example, in Sector 3, the aggregate storm <br />protection benefit is $6,243,281 and the recreational benefit is $12.970,168. <br />Since the storm protection benefit represents 32.5 percent of the $19,213,449 <br />total benefit for Sector 3, 32.5 percent of the actual project cost has been <br />assigned to storm protee,,tion benefit. Similarly, 67.5 percent of the project cost <br />has been assigned to ieutuaiiunal benefit - <br />Obviously, the storm protection benefit inures to the coastal property and <br />recreational henefii inures to the individuals who potentially use the beaches. <br />Because of the inability to directly correlate the recreational benefits to specific <br />property uses or owners, the costs related to recreational benefits have been <br />allocated to the following user groups based upon the survey resrllts: <br />