There is a combination of state and local funding being applied to the project. Although final funding strategy is still under development, there is sufficient funding in place to complete construction. Total estimated project costs are $9.5M, which includes five years of monitoring post-construction. The local share is estimated at about $6.2M.
On February 25, 2020, the Sarasota County Board of Commissioners committed to fund 100% of the local share of the project mobilization costs, estimated at $2M and 47% of remaining local costs estimated at $2.1M for a total of $4.1M from the Tourist Development Tax – Fund 186, Beach Renourishment. Remaining local costs, estimated at $2.4M will be paid for initially with a Commercial Paper Loan. The loan will be repaid by a Municipal Services Benefit Unit (MSBU), which is a special assessment to property owners within the project area that receive a benefit from its construction. The County Commission will further discuss the establishment of the MSBU and the estimated assessments at an upcoming Commission meeting.
Past Public Outreach Presentations
July Public Meeting Presentation
A recording of the July public meeting is online at: https://youtu.be/OCTSbZlvGMY (external).
October ECL Workshop and Public Hearing Presentation
A recording of the October workshop and public hearing is online at: https://youtu.be/iJOXFdyZaII (external).
The presentations are available in the Document Library below.