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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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40 <br />+i <br />• <br />i <br />Similarly, the remaining four (4) recreational beneficiary groups categories were <br />adjusted to reflect their relative share of the total project benefit. <br />Alternative revenue sources that are identified in Table 21 to pay the cost share <br />for each beneficiary group are shown in relation to their share of the total project <br />costs for Sector 5. A break -down of costs associated with (1) public access <br />properties ($124,000) related to storm protection benefits, (2) County recreational <br />beach use (40.7 percent or $1,755,400) ascribed to County resident recreational <br />benefits, (3) overnight and (4) day tourists are summarized to evaluate the <br />potential for total payment using state, local and tourist development tax funds. <br />6.5 SECTOR 7 - SOUTH COUNTY BEACH <br />The total storm protection benefits accruing to Sector 7 beachfront property <br />owners totals $7,478,757. The recreational benefits accruing to beach users is <br />not computed due to the absence of beach users during the times of the beach <br />surveys as reference on Section 3 of this report. Therefore, storm protection <br />benefits account for 100 percent of the total benefits. Recreational benefits, <br />although not estimated herein, would likely only be ascribed to the upland <br />property owners through direct property access, private easements or private <br />street ends. Applying this percent to the initial nourishment costs of $3,321,000 <br />results in the oceanfront property owners paying for the entire cost of the project. <br />A summary of the relative degree of benefits ascribed to each beneficiary group <br />is given in Table 22 and illustrated in 'Figure 10 for Sector 7. <br />Storm Protection Cost Allocation <br />In Sector 7, for private property, using the Avoided Cost Method of calculating <br />assessments, a property with one (1) percent of the total private property share <br />of the storm protection benefits would pay a total assessment of $33,210. <br />
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