1 / 26

Thanks for Being Here

Thanks for Being Here. Beach Project Financing Topsail Beach, North Carolina. Community Interviews March 7-18, 2011 Workshop Series 1 April 16 & 17, 2011 Workshop Series 2 May 14 & 15, 2011 Workshop Series 3 May 28 & 29, 2011

avery
Download Presentation

Thanks for Being Here

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Thanks for Being Here

  2. Beach Project FinancingTopsail Beach, North Carolina Community Interviews March 7-18, 2011 Workshop Series 1 April 16 & 17, 2011 Workshop Series 2 May 14 & 15, 2011 Workshop Series 3 May 28 & 29, 2011 Presentation of Draft Beach Funding Report Topsail Beach Town Hall, June 8, 2011 PETER A. RAVELLA, PRINCIPAL PAR CONSULTING, LLC

  3. Goal: Build on the Community’s History of Successful Planning and Savings Develop a Funding Plan Fair & Equitable in the Eyes of Most in the Community

  4. Beach Funding Philosophy • Beaches are economic assets, pure and simple • Erosion is a natural process, like rust, even where we mistakenly help it along • Beach towns must invest in their top asset – the beach - with county, state and federal participation where possible • Work together for the greater good -- Local battles interfere with sound financial planning

  5. Secret #1: “Discover” What is Fair Within the Community -- The funding plan must be “fair and equitable” in the eyes of most in the community Funding Process -- must be transparent, have wide participation, and discover what is “fair” for the community At the City Government Level -- Community support must precede local government action

  6. Secret #2: Recognize Communities are Unique • “We’re all in this together” • On narrow barrier islands like Topsail Beach, all owners have a stake in the beach & the conceptual sand source plan calls for clearing channels • Community History Matters • Topsail Beach has historically used a flat rate ad valorem tax plus accommodations taxes for beach management costs • Our Work: Find an approach that builds on the unique character of the community

  7. Secret #3: Plan Ahead • Time is money • Build Beach Account over time • Start saving early • Where possible, use ad valorem tax revenues, not fees (as property taxes are deductible w IRS) • Beach Maintenance is on-going, and savings plan should be too

  8. Secret #4: Avoid the Perfection Trap • Finance Strategies can become complex • Finer “distinctions” can always be found: • Among beneficiaries • Property characteristics, and • Assessment strategies and rates . . . And the discussions and debate can continue • Best Rule: Avoid the perfection trap, find a reasonable solution, and financially prepare to restore the beach and dunes

  9. Build Funding Coalitions Based on the “Duality” of Beaches Contributors should include: • State of North Carolina Public • Pender County Public • Town of Topsail Beach Public • Beachfront property owners Private • Off-beach property owners Private

  10. Current Beach Funding Plan

  11. Proposed Topsail Beach Funding Principles • Start Saving Now – delay will increase tax rates • Avoid Debt Financing – Plan to Pay Cash • Work to Maximize State & County Contributions • Use ad valorem Tax Mechanism to preserve tax deduction • Use Equal Tax Ad valorem Rate on all Parcels (No MSD) • Limit cost to $75/month on a $500,000 Home and avoid increase in current ad valorem rate of 31 cents/$100 value • Establish a dedicated Beach Maintenance Savings Account • Adopt Option 2 & Dedicate 12 cents/$100 value to BMSA • Secure “FEMA Beach” Eligibility

  12. Comparison of Options

  13. Option 1: Enhanced Maintenance

  14. Option 2: Enhanced Maintenance

  15. Funding Plan Options Option 1- Enhanced Beach Maintenance Option 2 - Base Beach Maintenance

  16. Secure “FEMA Beach” Eligibility • Purpose: Make Local Project Eligible for Federal Reimbursement if the Beach is lost or damaged in a “Declared Disaster” • FEMA Beach Requirements: • Monitor - Annual Beach Profiles • Maintain - Annual Maintenance & 5 year Renourishment • Fund - Establish Stable & adequate funding source* * Note: 25 year funding plan also required for the Static Line Exception

  17. Not All Beaches Are “FEMA Eligible” • Emergency or one-time renourishments, even if to a design, are not eligible because they do not have an established and adhered to maintenance program • Emergency or “as needed” renourishments when the beach has eroded are not eligible maintenance programs. The beach must be maintained through scheduled renourishments • Renourishments must be to the project design; partial renourishments or “hot spot” nourishments are not considered maintenance

  18. Extend the TB Beach Fund • Set aside a Dedicated Fund • Use Fund for Specified Purposes Only • Design, Permitting & Construction of the Next Beach Project • Annual Beach Monitoring Program • Annual Dune Maintenance Program

  19. Open DiscussionLET’S TALK ABOUT IT.

  20. How to Participate • Come to Workshops or view on the Web • Setup a personal phone interview with PARC • Join the Facebook Discussion • Review and comment on the draft plans • Call me: 512-784-3565 • Email me: peter@ravellaconsulting.com

  21. Part I Secrets to Successful Beach Project Funding (Review from Workshop #1)

  22. Part II Initial Public Comments & Input

  23. Part III Training – Topsail Beach Project Funding Calculator

  24. Part V Observations about Topsail Beach March Interviews

  25. Topsail Beach is Unique • Dedicated and Educated Beach Community • Organized & Committed Citizens - TBCC • History of Shared & Equal Contributions • Solid County Contribution to Beach Fund • Narrow Island = Strong Community Ties • Long History of Successful Planning • Planned and Paid Cash for a Beach Project!

  26. Discerning Residents • Skeptical of Federal Project • Skeptical of Municipal Services Districts • Concerned about those on Fixed Incomes • Concerned about Rising Property Values

More Related