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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
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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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+0 <br />40 <br />s <br />• <br />benefits. After determining the share of the costs between storm protection and <br />recreational benefits, benefits are ascribed to user groups. A summary of the <br />relative degree of benefits ascribed to each beneficiary group is given in Table 19 <br />and illustrated in Figure 7 for Sectors 1 and 2. <br />Storm Protection Cost Allocation <br />In Sectors 1 and 2, there is a total of $3,044,000 in storm protection benefit <br />related project costs representing 56.5 percent of the total combined benefits. <br />Based on their share of the storm protection benefits, the state cost share for <br />publicly owned, i.e. government land, is approximately $1,041,700 and the cost <br />share to private property owner, is approximately $2,002,800. However, these <br />sectors meet the criteria for receiving grants from the state. Given the basis for <br />the state funding contribution which is, according to discussions with state <br />regulators, based principally on a recognition of the need to mitigate for sand lost <br />due to inequities in the historical sand bypassing practices at the Sebastian Inlet, <br />there will be excess revenue from state grants after allocation to the storm <br />protection henefit rPlatetl costs of government property. The excess revenue ..ill <br />be used to fund the costs attributed to recreational benefits of specific user <br />groups. <br />For oceanfront property, using the Avoided Cost Method of calculating <br />assessments; a property with one. ( 1) percent of the total property share of the <br />storm protection benefits would pay a total assessment of $30,440. <br />Recreational Benefit Cost: Allocation <br />In Sectors 1 and 2, recreational benefit related project costs paid alternatively by <br />the tourist development taxes, state, and County funds are grouped according to <br />the beneficiary group category. Overnight tourists were determined to receive <br />28.2 percent of the total recreational benefits which represents a 12.3 percent <br />share of the total benefits (including storm protection and recreational benefits). <br />
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