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of
<br />40
<br />•
<br />recreational benefits (refer to Table 8). Obviously, if the annual benefit is
<br />multiplied by 30 years a value of $109,771,604 results. But, because we are
<br />looking at future income flows, and one dollar thirty (30) years from now is not
<br />worth one dollar today, it is necessary to reduce or discount these future flows
<br />back to the present. At a 3.0 percent real rate of interest, the present value of
<br />recreational benefits over 30 years is $71,'19,063.
<br />Table 9 shows the annual recreation benefits, the total 30 -year recreation
<br />benefit, and the present value of the stream of annual benefits over the life of the
<br />project. This information is broken out by sector and is also presented for all the
<br />sectors.
<br />Table 9
<br />Present Value of
<br />Annual Beach Recreational Benefits
<br />Sectors 1 & 2
<br />Summer
<br />I Benefit
<br />Winter
<br />Benefit
<br />Annual
<br />Benefit
<br />30 Yr
<br />Total
<br />Present
<br />Value
<br />% PV
<br />County(Island)
<br />$10,466
<br />$7,274
<br />$17,740
<br />$532,189
<br />$347,704
<br />6.8%
<br />County(Main)
<br />$38,375
<br />$37,459
<br />$75,834
<br />$2,275,034
<br />$1,486,389
<br />28.9%
<br />Tourist (Day)
<br />$29,654
<br />$17,820
<br />$47,474
<br />$1,424,221
<br />$930,512
<br />18.1%
<br />Tourist (Other)
<br />$19,188
<br />$23,276
<br />$42,463
<br />$1,273,897
<br />$832,298
<br />16.2%
<br />Tourist(TDT)
<br />$38,375
<br />$40,732
<br />$79,108
<br />$2,373,228
<br />$1,550,544
<br />30.1%
<br />Total
<br />$136,058
<br />$126,561
<br />$262,619
<br />$7,878,568
<br />$5,147,447
<br />100.0%
<br />Sector 3
<br />Summer
<br />Benefit
<br />Winter
<br />Benefit
<br />Annual
<br />Benefit
<br />30 Yr
<br />.Total
<br />Present
<br />Value
<br />% PV
<br />County(Island)
<br />$22,062
<br />$71,209
<br />$93,271
<br />$2,798,134
<br />$1,828,156
<br />10.4%
<br />County(Main)
<br />$173,486
<br />$109,126
<br />$282,612
<br />$8,478,348
<br />$5,539,312
<br />31.4%
<br />Tourist (Day)
<br />$54,152
<br />$21,270
<br />$75,422
<br />$2,262,657
<br />$1,478,302
<br />8.4%
<br />Tourist (Other)
<br />$58,163
<br />$88,318
<br />$146,481
<br />$4,394,428
<br />$2,871,091
<br />16.3%
<br />Tourist (TDT)
<br />$125,351
<br />$178,024
<br />$303,374
<br />$9,101,229
<br />$5,946,270
<br />33.7%
<br />Total
<br />$433,212
<br />$467,948
<br />$901,160
<br />$27,034,797
<br />$17,663,132
<br />100.0%
<br />988EOfPH82REPORTAMA"MW19MME
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