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of • Properties With Existing Erosion Control Structures It is assumed that the seawalled oceanfront properties will maintain or repair their existing erosion control structures in the absence of a project and sets their benefits equal to the maintenance cost savings over a projected 30 -year benefit period. Construction costs for new seawalls or revetments were assumed to be $750 per linear front foot for residential properties. Maintenance costs for seawalls and revetinents were estimated at approximately $17 per front foot per year for existing erosion control structures. Properties Without Existing Erosion Control Structures The "without project" benefit to unarmored (i.e., non -hardened) oceanfront properties is whatever actions are in the oceanfront property owners' economic interest to protect themselves from yearly landward erosion and the occurrence of a 15 -year storm event in Sector 7 a five (5) -year storm event was applied. If the major habitable structures on the property are in jeopardy of significant structural damage from yearly landward erosion or a 15 -year storm event, it is assumed that the property owner will armor the shoreline (i.e., construct an erosion control structure) to prevent the loss of major upland structures. Given the policy of the State of Florida regarding the construction of seawalls and revetments, and the extensive shoreline armoring along the Island, it is assumed that permission for construction of an erosion control structure will be given in the case of properties in jeopardy of loss to a 15 year return period storm event. Thus, the dollar amount of an anticipated erosion control structure is included in the total dollar benefit to the property. Thus, it is assumed that the owner will be allowed to construct a seawall or revetment, and the cost for construction and maintenance of this erosion control structure is added to the total benefit. O8-?e(WHS2REPORTtDRAFTMO1 VMKME ti