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•s <br />0 <br />• <br />r] <br />The total 30 -year present worth benefits associated with storm protection <br />($31,106,269 or 30.3 percent) and recreational use ($71,719,063 or 69.7 <br />percent) is $102,825,332. The total 30 -year present worth cost for the County's <br />beach restoration projects is $33,884,070, resulting in a benefit to cost ratio of <br />3.03 to 1 (3:1), confirming the economic importance of improving the County's <br />beaches. <br />Recommended Funding Sources and Financing Plan <br />Four primary sources of revenue are available to the County to fund the cost of <br />the initial beach restoration projects. These sources are recommended based <br />the funding sources identified and evaluated in Phase I. As described above, <br />initial project costs are estimated at $17,685,540 to restore 8.3 miles of shoreline. <br />Funding sources recommended to finance these costs include: <br />• State BECP Funds <br />Is Tni iriefnow lnnr nnf T.— <br />• Local Government Infrastructure Surtax (local options tax) <br />• Special Assessments <br />Total State Grant Funds (BECP) that the County is anticipated to receive is <br />estimated at $8,727,423 based on the following State contributions: <br />Q Sector 1 - 100 percent cost share or $3,329,609 <br />• Sector 2 - 50 percent cost share or $1,224,478 <br />• Sector 3 - 50 percent cost share or $1,864,858 <br />• Sector 5 - 50 percent cost share or $2,308,478 <br />• Sector 7 - Not available <br />WREPOR T&'98980A08/ 14199 <br />GW11899/99.11.98980 <br />ES -3 <br />