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•• <br />M <br />0 <br />5.0 RECOMMENDED FUNDING SOURCES <br />5.1 INTRODUCTION <br />This section of the report describes the recommended funding sources for the <br />proposed beach restoration and subsequent renourishment projects. The <br />recommended sources of funding are based on the Phase 1 Report titled "Beach <br />Preservation Plan, Economic Analysis and Cost Allocation Plan" (ATM, 1998). <br />The BPP prepared by the County in 1998, identified projects for sand <br />replenishment to provide protection to properties along the barrier island <br />shoreline from erosion and to partially mitigate the inlet's adverse effects on the <br />downdrift oceanfront beaches. <br />The proposed projects include sand placement activities in all or part of five (5) <br />of the eight (8) planning sectors which encompass the County's 22 -mile <br />shoreline. A second goal of the sand replenishment project to the Indian River <br />County shoreline is recreational enhancement of the beach. These objectives <br />are important in the identification of, and establishment of, a final financing plan <br />to implement the County's Beach Restoration Program. <br />As discussed previously, the total 30 -year present worth benefits associated with <br />storm protection and recreational use is $102,825,332 (summarized in Table 16) <br />and the total 30 -year present worth cost for the County's beach restoration <br />projects is $33,884,070. These values result in a benefit to cost ratio for the <br />County's long-range beach restoration Plan of 3.03 to 1 (3.03:1). The high <br />benefit to cost ratio (3.03 to 1) demonstrates that the County's beach restcratic;� <br />program is an highly important project that is economically justifiable. <br />YB-980"IS2REPGR TIOW TMOI9%,KM[ <br />41 <br />