THE ISSUE Dredging of Salt Ponds Dredging Requirements
- Slides: 10
THE ISSUE Dredging of Salt Ponds
• Dredging Requirements – Inlet dredging • Currently only dredging inlet area – approximately 10, 000 CY • Material is suitable for placement on beach – Other areas require less frequent maintenance dredging • Remaining area of Salt Ponds and Colonial Acres Canal – approximately 90, 000 CY • Material not suitable for beach placement
• Cost of Dredging – Annualized cost of inlet dredging every other year and maintenance dredging of remaining portion of Salt Ponds and Colonial Acres canal on a 10 year frequency is estimated at $280, 000 • $200, 000 for inlet every other year ($100 K/YR) • $1, 800, 000 for remaining areas every 10 years ($180 K/YR)
THE IDEAS Service District Community Development Authority
SERVICE DISTRICT Authority Va. Code 15. 2 -2400 et seq Creation By ordinance after notice by publication in newspaper and public hearing Powers controlled by Governing body (can create development board to assign powers to)
Specific Powers of Service District 1. 2. 3. 4. 5. 6. 7. 8. Generally, construct, create, enlarge, maintain, etc. roads, bridges, curbs, gutters, sidewalks, etc. as a locality would. (dredging is not specifically enumerated but not excluded). To provide transportation services. Purchase equipment, interests or development rights. To contract for the provision of services. Levy and collect annual tax on property within the district for services therein. To receive funds for the operation or maintenance of the district. To employ individuals. Te create and terminate a development board or other body to which it may assign responsibilities.
COMMUNITY DEVELOPMENT AUTHORITY Authority Va. Code 15. 2 -5152 et seq Creation By resolution or ordinance after consideration of petition by the owners of at least 51% of the land areas or assessed value of land in the area to be designated. Also need notice by publication and public hearing. (Petitioning landowners must be notified by mail prior to adoption of ordinance and have 30 days therefrom to withdraw their signature. Powers controlled by Governing body (can create development board to assign powers to)
Specific Powers of Community Development Authority 1. 2. 3. 4. 5. Generally construct, create, enlarge, maintain, etc. , roads, bridges, curbs, gutters, sidewalks, etc. , as a locality would. (dredging is not specifically enumerated but not excluded). Issue revenue bonds to be paid solely from revenues received by the Development Authority. Request locality to levy and collect special tax in jurisdiction not to exceed $0. 25 per $100 of assessed value. Finance services and facilities to abutting property by special assessment thereon imposed by locality. Purchase development rights.
THE IMPACT OF THE IDEAS
• Impact of Dredging Costs on Taxes – Waterfront properties only – 448 valued at $115 million • Requires $. 2435/$100 for all dredging • Requires $. 0870/$100 for inlet only dredging – Larger tax district – Example shown includes 2095 properties valued at $416 million • Requires $. 0673/$100 (all) • Requires $. 0240/$100 (inlet) – City wide impact against general real estate tax • Requires $. 0035/$100 (all) • Requires $. 0013/$100 (inlet)
