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de • • • ( , conducted between August 13 and October 11, 1998 for the summer period and between March 26 and April 10, 1999 to determine beach user characteristics for winter months. These surveys determined that, on average, the value placed on a day at the beach by respondents to the summer survey was $11.71 and the value placed on a day at the beach by winter respondents was $ 14.32. The average value of a day at the beach was multiplied by the number on days spent on average at the beach for each beach sector to determine the total recreational benefit. The net present value of the recreational benefits over the 30 -year project horizon is estimated at $71,719,063 for the entire project area. Storm Protection Benefit The storm protection benefit resulting from the beach restoration program was computed for oceanfront property within a project area. The following factors warp taken into cnncirieratinn• �M., w ti,;paI.0 .. �a^'��- ` U -_ hunt crvsiuil if the project was not completed, (2) value of land that would be lost, (3) construction cost of erosion control structures required if the project was not completed, and (4) maintenance cost of erosion control structures. The aggregate net present value of the storm protection benefit for all property abutting the project over a 30 -year project horizon is estimated at $31,106,269. Distribution of Project Benefits and Costs The initial beach restoration projects will restore and improve 8.3 miles of shoreline along the County's '12 miles of barrier island beaches. The restore;: beaches will be renourished at intervals of approximately 8 years throughout the 30 -year project horizon.. The present value of the initial beach restoration project is approximately $16,286,567, based on a total initial project cost of $17,685,540. M/RE PORTS/98980A08/14/99 GNV/1999199-11.98880 ES -2