One of the most frequent questions our staff receives regarding nourishment of Perdido Key is: How will Escambia County pay for this? This is a great question, particularly since beach nourishment is expensive, and must be repeated periodically. However, there is currently $1.6 million in funding available from FEMA as a result of the impacts of Hurricane Gustav. Escambia County is pursuing the potential for additional funding as a result of the the BP/Deepwater Horizon spill settlement through the Natural Resource Damage Assessment (NRDA) process or through Federal Clean Water Act fines.
Need Another Financial Incentive?
Post-Ivan, Florida Atlantic University conducted a study of the economic impact of beach nourishment projects on property values. In Escambia County, the study considered average condominium values on Pensacola Beach and Perdido Key. In the summer of 2004, before Hurricane Ivan struck, the values in the two study areas were similar. Between 2004 and 2005, average condominium market values declined both in Pensacola Beach and on Perdido Key. However, the decline on Perdido Key, which did not have a nourished beach, was greater than on Pensacola Beach, where the beach had been nourished. Although other mitigating factors also may have impacted the difference between the property value decline, similar correlations were found between nourished beaches versus unnourished beaches throughout the state following the active 2004 and 2005 hurricane seasons.
