Annie Mercer from the ASBPA wanted you to know about a new publication, attached, entitled “Local Funding for Coastal Projects: An Overview of Practices, Policies, and Considerations” and tells how local communities can fund coastal management projects.
The paper identifies regional characteristics and local considerations how communities must assess when determining how to raise revenue for beach and coastal restoration projects. The report then explains taxes, fees, and other sources of revenue commonly used by communities for beach projects; and provides an overview of emerging financial tools which can make existing revenue go farther in support of local coastal management efforts. The paper reviews important local and regional characteristics influencing funding strategies, then explores the following tools:
- Special Taxing Districts
- Erosion Control Districts
- Geologic Hazard Abatement Districts
- Inlet Management Districts
- Inland Navigation Districts
- Sales, Excise, and Use Taxes
- Tourism/Bed/Occupancy Taxes
- User Fees
- Green Bonds
- Environmental Impact Bonds
- Catastrophe Bonds
- Parametric Insurance
- Resilience Bonds
More information on the report including the full report and 2 page fact sheet can be found here: http://asbpa.org/get-involved/funding/.
ASBPA hopes this paper will provide a baseline for coastal practitioners as they work to fund crucial coastal projects in their communities. The white paper, produced by the group’s Government Affairs Committee and staff, is available for download and review at the association’s website, and will be published this year in the association’s peer-reviewed technical journal, Shore & Beach.
If you have any questions to please make contact with Annie Mercer at annie.mercer@asbpa.org
One of our Board Members, Peter Ravella, contributed to the project, as well as the ASBPA Executive Director, Derek Brockbank. Nice work Annie and associates.
Jerry Mohn
President