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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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• <br />C> <br />0 <br />The project related costs ascribed to the category of overnight tourist is <br />determined by multiplying the relative percent of the total combined benefit (12.3 <br />percent) by the total project cost ($5,390,000). Similarly, the remaining four (4) <br />recreational beneficiary group categories were adjusted to reflect their relative <br />share of the total project benefit. <br />Alternative revenue sources that are identified in Table 19 to pay the cost share <br />for each beneficiary group are shown in relation to their share of the total project <br />costs for Sectors 1 and 2. A break -down of costs associated with (1) public <br />access properties related to storm protection benefits, (2) County recreational <br />beach use ascribed to recreational benefits, (3) overnight and (4) day tourists are <br />summarized to evaluate the potential for total payment using state, local and <br />tourist development tax funds. <br />6.3 SECTOR 3 - !.'VASASv^ BEACH <br />The total storm protection benefits accruing to Sector 3 beachfront property <br />owners totals $6,243,281 and the recreational benefits accruing to beach users <br />totals $12,970,168. Therefore, storm protection benefits account for 32.5 percent <br />of the total benefits and recreational benefits account for 67.5 percent of the total <br />benefits. Applying these percentages to the initial nourishment cost of <br />$2,926,000 results in $951,004 in costs related to storm protection and <br />$,1,975,000 related to recreational benefits. After determining the share of the <br />costs between storm protection and recreational benefits, benefits are ascribed <br />to user groups. A summary of the relative degree of benefits ascribed to each <br />beneficiary group is given in Table 20 and illustrated in Figure 8 for Sector 3. <br />Storm Protection Cost Allocation <br />In Sector 3, there is a total of $951,000 in storm protection benefit related project <br />costs representing 32.5 percent of the total combined benefits. The state cost <br />share for publicly owned, i.e. government land, is approximately $59,100 and the <br />
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