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Title: Lee County, Florida, Shore Protection Project: Gasparilla Island Segment: Final Integrated Section 934 Report and Environmental Assessment; Appendix C: Economics
Authors: United States. Army. Corps of Engineers. Jacksonville District.
Keywords: Shore protection
Beach nourishment
Gasparilla Island (Fla.)
Publisher: United States. Army. Corps of Engineers. Jacksonville District.
Abstract: The Lee County Gasparilla Shore Protection Project consists of approximately 2.8 miles of shoreline along the southwestern coast of Florida. The project consists of periodic beach nourishment; it provides for initial construction and periodic renourishment at seven-year intervals along 2.8 miles of gulf shoreline. The design template is defined by a 20 foot extension of the project baseline, roughly the 1995 mean high water (MHW) line, at +5 FT. –MLW (3.75 FT-NAVD88). The entirety of project is located in the city of Boca Grande, Florida. The project was authorized in 1976, and modified by the Water Resources Development Act (WRDA) of 2000. Authority was granted (in WRDA 2000) for initial construction and a ten year period of Federal participation. Initial construction was completed as a reimbursable project by the sponsor in 2007. A renourishment of the project was completed in 2013. The Lee County Gasparilla 934 Report is intended to investigate the feasibility of extending the period of Federal participation in periodic nourishments to a full 50 years. This would add 40 years to the period of Federal participation in periodic nourishments, from 2016 through 2056. The purpose of this document is to describe the economic analysis of the 934 Report, including the future without project (FWOP) and future with project (FWP) conditions as simulated by the Corps certified model Beach-fx. It is intended to explain the approach, assumptions, and results of the economic analysis. The economic analysis in this report confirms that continued Federal participation in the Lee County Gasparilla coastal storm risk management project is economically justified. In accordance with planning guidance and the stated purpose of a Section 934 report, an optimized version of the authorized project is the recommended plan. The optimized plan has positive net benefits and a benefit-cost-ratio above unity. The total project first cost (in FY18 dollars) is $35.771 million and the total investment cost is $35.771 million. At the current (FY18) water resources discount rate (2.75%), the average annual benefits are $1.375 million and the average annual costs are $941,000. The average annual net benefits of the recommend project are approximately $434,000 and the benefit-cost ratio is 1.46. As a result of the optimization of the authorized project, the recommended plan is defined as a 20 foot extension of the project baseline, roughly the 1995 MHW line, at +5 ft.-MLW (3.75 ft-NAVD88); a foreshore slope of 1V:15H transitioning to a nearshore slope of 1V:25H from MLW extending out to the intersection with the existing profile; a 60 foot advance/sacrificial berm accounts for an average periodic nourishment interval of 22 years; only two renourishments are expected throughout the remaining 40 year period of analysis.
Description: Section 934 Report/Environmental Assessment
Rights: Approved for Public Release; Distribution is Unlimited
Size: 104 pages / 8.246 Mb
Types of Materials: PDF/A
Appears in Collections:Environmental Documents

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