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iR protection benefits for each individual property were calculated by determining the expected land loss due to erosion and the associated costs of the land protected and the cost of maintaining or repairing an existing erosion control structure in the absence of the project. The expected Foss consists of the discounted stream of future losses over a 30 -year period. The storm protection benefits for individual properties were calculated over a 30 -year project horizon and reduced to net present value, then aggregated by beach sector and the entire project area. On the basis of these calculations, the net present value of storm protection benefits over a 30 -year project horizon for the entire project area are estimated at $27,489,287 Section 3.0 of this report describes the recreational benefit calculations for the project area. The total recreational value of Indian River beaches to an individua! is estimated as the average value of a day at the beach multiplied by the number of days spent on average at the beach. Since the beach nourishment project for Indian River County has a design life of 30 years, the present value of the recreational benefits over the 30 year period is estimated at $50,322,518 for the entire project area. A summary of these combined benefits and the relative values by sector are shown in Table 18. The resultant relative -,turn, nrntantinn and ronrn�fl--nl benefits by sector are used in the initial cost allocation for each sector. For example, in Sector 1 and 2, the calculated storm protection benefits of $6,2U5,7'e,'0 and recreational benefits of $4,780,920 relative to the total calculated benefits for the sector of $10,986,640 determine that 56.5 percent and 43.5 percent of the actual costs of the project for that sector will be allocated to properties receiving the storm protection and recreational benefits of the project accordingly.