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9.B.1. PUBLIC DISCUSSION ITEM - BEACH PRESERVATION <br />PLAN, PHASE H - FUNDING SOURCES AND <br />FINANCING - APPLIED TECHNOLOGY AND <br />MANAGEMENT. INC. (1¢ Optional Sales Tax) <br />(CLERK'S NOTE: THIS ITEM WAS HEARD AFTER ITEM 9.B.2. AND IS <br />COMBINED WITH ITEM 9.B.3. IT IS PRESENTED INITS REGULAR ORDER TO <br />PRESERVE CONTRWITY.) <br />The Board reviewed a Memorandum of July 13, 1999: <br />TO: James E. Chandler, <br />County Administrator <br />TBROUM: James W. Davis, P.E.,PUBLIC DISCUSSION ITEM <br />Public Works Director CP- <br />FROM: Jeffrey R. Tabar, P. <br />Coastal Engineer <br />SUBJECT: Funding Sources and Financing Plan for Beach Preservation Plan <br />(Phase II) <br />DATE: July 13, 1999 <br />DESCRIPTION AND CONDITIONS <br />County staff, with a team of consultants, has prepared a financing <br />plan for the County's Beach Preservation Plan (BPP). The financing <br />plan includes determining the nature and extent of benefits <br />expected to accrue and formulates alternatives to finance the cost <br />of the BPP. This work was completed in two phases. <br />The Phase I report entitled "Beach Preservation Plan - Economic <br />Analyses and Cost Allocation Plana was presented to the Board of <br />County Commissioners on January 19, 1999 during the regular <br />meeting. The purpose of the Phase I work was to examine the <br />economic viability of beach restoration along five (5) planning <br />sectors of the County's shoreline, analyze storm protection and <br />land loss benefits, compile summer recreational beach use benefits <br />and identify alternative sources of revenue to fund the BPP. The <br />phase II report entitled "Beach Preservation Plan Economic Analysis <br />- Phase II Funding Sources and Financing Plane presents data from <br />a winter recreational beach user survey, compiles revised annual <br />recreational benefits and formulates recommended funding sources <br />and a financing plan. <br />ALTERNATIVES AND ANALYSIS <br />The Phase II report presented herein examines the overall economic <br />viability of the BPP and quantifies the benefits to be received by <br />individual groups over the 30 -year project horizon. Four primary <br />sources of revenue are available to fund the cost of the beach <br />restoration projects. These sources are recommended based on the <br />funding alternatives identified and evaluated in the Phase I <br />report. <br />JULY 209 1999 <br />-41- <br />BOOK io PAGERI <br />