The document discusses beach erosion issues facing the Village of Quogue, New York. It notes that over half of Quogue is located in the hurricane flood zone and the village's beaches are being starved of sand from the trapping of sand at Shinnecock Inlet each year. The erosion poses risks to property and infrastructure in the village. The document proposes a $15 million beach restoration project for Quogue and analyzes different funding scenarios to pay for the project through municipal bonds and targeted tax increases.
4. Shinnecock Inlet traps
Approximately
100,000 cubic yards of sand
Per year, starving the beaches
Of Quogue and eroding the
Dunes and beaches
Erosion Waves
Apex of
Erosion
Wave
Village Boundary
What Happens at Shinnecock Inlet
Impacts the Village of Quogue
Because the sand flows
from East to West
Sand Flow
5. Super Storm Sandy
Dune Loss is episodic and tied to storms
Width of Beach is deceptive
November 4, 2012
Shinnecock Inlet
Village Boundary
Village Beach
Village Beach
Overwashes from
Ocean to Bay
6. Quogue Village Beach
Great Dune, East Quogue
Tiana Beach, Hampton Bays
Mermaid Lane, East Quogue
Post Super Storm Sandy
November 4, 2012
7. April 28, 2014
Shinnecock Inlet
Village Beach
Village
Boundary
Although the beach Width Varies
The Dune Line Continues to Retreat
This is symptomatic of an underlying
Erosional influence
Restored Dunes
8. Tiana Beach, East Quogue, NY
August 13, 2014
Overwash into Dune Road
From minor storm
Looking south from Dune Road to the Ocean
Vehicles stuck in Dune Road from overwash sand
Looking north towards Dune Road and the Shinnecock Bay
10. โProfile Volumeโ
Equilibrium Profiles
Profile ShapeWill Change Frequently. But If the Profile VolumeRemains Constant, The Beach Is In Equilibrium
After Kana 1990
25. All of the above Scientific Investigations have been supported by:
#justsayyestobeachnourishment
www.quoguebeaches.com
26. MUNISTAT SERVICES, INC.was established in 1977, and has served as financial advisor to local governments, school districts, and other tax-exempt organizations specializing in debt management and securities offerings. Our offices are located in Port Jefferson Station, N.Y. Our staff consists of dedicated and experienced individuals uniquely suited to taking each borrowing from inception to closing as efficiently as possible. Our primary purpose is to perform the technical and administrative functions required as integral parts of the borrowing process in coordination and cooperation with our clients, bond counsel, local counsel and market participants. In addition, we have extensive experience in other areas of municipal finance, such as municipal credit analysis, local and federal government accounting and auditing, securities marketing and investments. Our primary emphasis is on debt management, which begins with the development of a financial plan and continueseven after securities are sold and delivered.
27. Noah H. Nadelson, Chief Executive Officer, CIPFA
nnadelson@munistat.com
Prior to joining Munistat in August of 2002, Mr. Nadelsonโs career started in 1997 as an Investment Advisor in the corporate headquarters of UBS PaineWebber in New York, NY.Working with a team of advisors in the Private Client Group, he was responsible for constructing municipal bond portfolios for institutional investors and high net worth individuals.He has served as guest lecturer at the school business officer certification course at C.W. Post and has spoken to numerous boards and organizations on issuer-related matters.Mr. Nadelson is a member of the NYS GFOA, Long Island Village Clerks and Treasurers Association, and the NYS Association of School Business Officials.He is also a member of the NY Municipal Bond Club and has taught at the โBond Schoolโ held at the Securities Industry and Financial Markets Association on the role of Financial Advisors.He has been licensed as a General Securities Representative (NASD, Series 7), as a Uniform Securities Analyst (NASD, Series 63) and as a Registered Investment Advisor (NASD, Series 65). He received a Bachelor of Arts Degree in Economics from the State University of New York at Stony Brook. Mr. Nadelson was part of the team that successfully packaged the $25 million Sagaponack/Bridgehampton-Water Mill beach restoration bond for the Town of Southampton
28. ESTIMATED DEBT SERVICE SCHEDULE
VILLAGE OF QUOGUE
SUFFOLK COUNTY, NEW YORK
$15,000,000 PUBLIC IMPROVEMENT BONDS -2015
Total
Fiscal
Principal
Interest
Interest
Interest
Total
Debt
Year Ending
Due 05/15
Rates
Due 11/15
Due 05/15
Interest
Service
2016
$
1,295,000
3.250%
$
243,750.00
$
243,750.00
$
487,500.00
$
1,782,500.00
2017
1,340,000
3.250%
222,706.25
222,706.25
445,412.50
1,785,412.50
2018
1,380,000
3.250%
200,931.25
200,931.25
401,862.50
1,781,862.50
2019
1,425,000
3.250%
178,506.25
178,506.25
357,012.50
1,782,012.50
2020
1,470,000
3.250%
155,350.00
155,350.00
310,700.00
1,780,700.00
2021
1,515,000
3.250%
131,462.50
131,462.50
262,925.00
1,777,925.00
2022
1,565,000
3.250%
106,843.75
106,843.75
213,687.50
1,778,687.50
2023
1,615,000
3.250%
81,412.50
81,412.50
162,825.00
1,777,825.00
2024
1,670,000
3.250%
55,168.75
55,168.75
110,337.50
1,780,337.50
2025
1,725,000
3.250%
28,031.25
28,031.25
56,062.50
1,781,062.50
Total
$
15,000,000
$
1,404,162.50
$
1,404,162.50
$
2,808,325.00
$
17,808,325.00
Dated May 15, 2015
Principal due May 15, 2016 -2025, as above
Interest due November 15, 2015 and semi-annually thereafter.
Prepared by: Munistat Services, Inc.
Port Jefferson Station, N.Y.
29. Quogue Beach Restoration Project
Project Costs and Funding
Estimated Project Costs -$15,000,000
Based on:
Lengthโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆ.2.7 Miles
Cubic Yards of Sandโฆโฆโฆโฆโฆโฆโฆโฆโฆโฆ.. 1,100,000
Major Project Costs
Dredge Mobilization-Demobilizationโฆโฆโฆโฆโฆโฆโฆโฆโฆ.$3 million
1,1,00,000 cubic Yards of Sand @ $10/Cubic Yardโฆโฆ.$11 million
Design/Supervision/Monitoringโฆโฆโฆโฆโฆโฆโฆโฆโฆ...โฆ..$1 million
31. Typical Tax Bill
For Real Property
in the Village of Quogue
Assessed SouthamptonVillage of Total
Value Town TaxQuogue TaxTax
Per $1,000
Of Assessed$3.0709+$2.1167=$5.1876
Value
Therefore a property assessed at 1,000,000 has taxes equal to:
$3,070.90+$2,116.70=$5,187.60
32. Village of Quogue
Assessed ValueNumber of Parcels
$3,113,281,5451,772
FEMA Floodplain$2,464,543,7501,166
Dune Road
Oceanfront$485,381,023116
Bayside$283,640,43299
Total$769,021,455225
33. Quogue Beach Restoration Project
Cost Allocations
Annual Debt Service=Tax Rate
Assessed Value/ $1 Assessed Value
Tax Rate x 1,000 = Rate per $1,000 Assessed Value
34. Scenario One โVillage Wide Tax
$1,780,900 =$0.000572
$3,113,281,542
$0.000572 x 1,000 = $0.572 per $1,000 Assessed Value
Or
$572 for a Home Assessed at $1,000,000
35. Scenario Two โDune Road Only Tax
$1,780,900 =$0.002316
$769,021,455
$0.002316 x 1,000 = $2.316 per $1,000 Assessed Value
Or
$2,316 for a Home Assessed at $1,000,000
36. Scenario Three โOceanfront Only Tax
$1,780,900 =$0.003669
$485,381,023
$0.003669 x 1,000 = $3.669 per $1,000 Assessed Value
Or
$3,669 for a Home Assessed at $1,000,000
37. Scenario Four โ
80% Dune Road / 20% Village Wide Tax
$1,424,768 =$0.001853
$769,021,455
$0.001853 x 1,000 = $1.853 per $1,000 Assessed Value
Or
$1,853 for a Home Assessed at $1,000,000
$356,192 =$0.0001519
$2,344,260,090
$0.0001519 x 1,000 = $0.1519 per $1,000 Assessed Value
Or
$152 for a Home Assessed at $1,000,000
38. Scenario Four โ
80% Oceanfront / 20% Village Wide Tax
$1,424,768 =$0.002935
$485,382,023
$0.002935 x 1,000 = $2.935 per $1,000 Assessed Value
Or
$2,935 for a Home Assessed at $1,000,000
$356,192 =$0.0001355
$2,627,900,522
$0.0001355 x 1,000 = $0.1355 per $1,000 Assessed Value
Or
$136 for a Home Assessed at $1,000,000
39. Quogueโs Ocean Beach
A Place Worth Preserving
All of the above Investigations have been supported by:
#justsayyestobeachnourishment
www.quoguebeaches.com
