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BOOK ��� rA E - rd <br />7X Particivation in Florida Inland Navigation District's Economic <br />Analysis of Indian River County Waterways and Fundin, <br />Contribution <br />The Board reviewed a Memorandum of February 8, 2000: <br />TO: James E. Chandler; County Administrator <br />DIYAWN HEAD CONCURRENCE: <br />AlK <br />Robert Id. Keating, AICP; omm . Development Director <br />THROUGH: Roland DeBlois, AJCP; Chief, Environmental Planning <br />FROM: Peter J. Radke; Economic Development Planner' <br />DATE: February 08, 2000 <br />SUBJECT: FLORIDA INLAND NAVIGATION DISTRICT ECONOMIC ANALYSIS OF <br />INDIAN RIVER COUNTY WATERWAYS; REQUEST FOR FUNDING <br />CONTRIBUTION <br />It is requested that the data herein presented be given formal consideration by the Board of County <br />Commissioners at its regular meeting of February 15, 2000. <br />The Florida Inland Navigation District (FIND) is in the process of conducting an economic analysis <br />of the Interacoastal Waterway (ICW) on a county -by -county basis. FIND has completed an <br />economic analysis of the ICW in Palm Beach County and is initiating a similar analysis in Indian <br />River County. The estimated cost of the analysis for the Indian River County portion of the ICW <br />is $78,013.50. FIND is requesting that Indian River County contribute $15,000 toward the <br />$78,013.50 cost of the economic analysis. <br />BackgMund <br />FIND was created in 1927 as the local sponsor for the Atlantic Intracoastal Waterway project. <br />FIND, in cooperation with the Jacksonville District of the U.S. Army Corps of Engineers, is <br />responsible for maintenance of the ICW from Nassau County in the north to Miami -Dade County <br />in the south, a distance of 374 miles. <br />One of the major maintenance tasks performed by FIND is periodic dredging of the waterways to <br />cancel out the shoaling from currents, upland soil erosion, and the movement of offshore sands <br />through the ocean inlets. Maintenance dredging of the ICW is projected to cost approximately $7.8 <br />million annually during the next 50 years. To fund this work, the Federal Government will continue <br />to contribute $3.2 million annually and the remainder of the funds will come from property owners <br />in the coastal counties under FIND's jurisdiction. <br />February 15, 2000 <br />24 <br />