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South Beach Property Owners Association PO Box 3093 Vero Beach, FL 32964-3093 It would be impossible to discuss this subject without including the matter of financing the project. First of all, the question seems to be whether the commission is putting enough emphasis on financial backing from the U.S. Government and from the State Government. Apparently, there is money evadable from both sources. We suspect it goes to the beaches with the biggest MEMBER problem and we should certainly be one of the better candidates. Attached is an ASSOC/AT/ONS article regarding a $28 million dollar renourishment project in Panama City, Anglers Cove Florida, where they are actively pumping sand. Atlantis The beaches are a natural asset to Indian River County. As such Castaway Cove IY attract Castaway Cove 1/ thousands of visitors. These visitors spend lots of money which creates jobs. Castaway Cove /// Thus, no matter whete you live in the county, you find people benefiting from the Castaway Cove /V beaches. Further, ifthe beaches continue to erode in the South County, the Castaway Cove V property values will have a major decline which directly affects the county Castaway Cove V/ revenue. Naturally, all of this leads to the fact that the cost of saving the county Dunes beaches should e a county financial plan rather than a beach front plan. A recent Flora/ton Beach study suggests that if Resolution 98 is utilized, a 100 foot oceanfront lot would Gracewood be subject to assessment of $66,000 payable over the first five years. That is Little Harbour ridiculous. Moorings Ocean Ridge The passing of Resolution 98 was unfortunate. As W Nolte said, it sets a Oceanside dangerous precedent. Although it may be the easy way out for the commission, Oyster Bay it is madly equitable Pelican Point River Ridge In conclusion: We need action in Section 7B, we need it now, and we need its Saint Edward's School cost to be distributed in a fair and equitable basis. Sandpointe East Sandpointe West Seagrove East Sincerely, Seagrove West Seaside Sea Turtle Lane Shore/ands East <� Shorelands West Smugglers Cove Herbert Cnandage Surfside Terrace President, SBPOA Treasure Cove . Ralph Sexton, a beachfront property owner, commended the consultants for a fair and equitable plan. He also congratulated Commissioner Adams for her leadership and wisdom in getting the Plan underway. He believed that those who will benefit the most should pay the most and that the Plan is fair and equitable. He urged the Board to adopt the Plan and move on to Phase II. The Chairman asked if anyone else wished to be heard with regard to this matter. There being none, the Chairman closed the public hearing. Commissioner Adams commented that the Committee's job was to bring forward a Plan to have something to deal with. The next phase is to determine how much the Plan will cost and which segments of the population will benefit and in what percentages. She emphasized that those who have a direct benefit will have some assessment. The Committee, staff and the consultants are ready to work with the public to get their input. JANUARY 19, 1999 -81- BOOK, 108 PAGE x.65