County will hold public hearing on South Siesta renourishment tax district

The percent of the project cost paid by residents of the district may decrease slightly, but since those costs have doubled, it’s likely assessments will, too.

By Jack Short
| 4:15 p.m. November 25, 2015

Siesta Key
News

For the second time, Sarasota County will ask residents who benefit directly from south Siesta Key renourishment efforts to pay part of the bill.

Sarasota county advertised an ordinance on Nov. 24 that will establish a municipal services benefit unit for properties in the area directly affected by a $21.5 million project. That project will replenish approximately two miles of shoreline surrounding Turtle Beach.

The project will be funded by a variety of sources including state grants and tourist development tax funds, as well as the funds assessed through the MSBU.

According to Laird Wreford, Sarasota County coastal projects manager, property owners in the district will likely see an increase from when they were assessed to pay for phase I of the renourishment in 2007.

“Project costs have roughly doubled,” he said. “We’re hoping the increase on the MSBU will a little less than double.”

He added that it was too early to give an estimate, but said that the county wants to pay for roughly the same portion of the project – approximately 18% or less – as they did for phase I, which cost approximately $11.5 million.

Those costs were driven up, he said, in part by the depletion of offshore sand banks for renourishments, fuel prices, and the demand for equipment and vessels used for renourishments that followed tropical storm Debby in 2012.

According to a memo from county administrator Tom Harmer’s office, the MSBU share of the project will be paid by a commercial loan, which will then be paid back by the MSBU.

Commissioners will consider the establishment of the district for phase II, the current phase, as well as holding a public meeting, at their Dec. 9 meeting.

The practice of establish an MSBU to pay for renourishments isn’t new, according to Wreford, and has been used in other shoreline communities.

“You’re creating, certainly, a benefit for everyone,” he said, “but certainly those who reside or own property within the (MSBU district) limits get added storm protection benefits, and certainly property value benefits. We recognize that.”