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Preliminary Design of the Quogue Beach Nourishment Project
- 2. More than Halfof Quogue Is in the Hurricane Inundation Zone
- 3. Quogue The Villageof Quogue is Downdrift of Shinnecock Inlet
- 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, EastQuogue, 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
- 9. 1938 1996 Depositionat Shinnecock Inlet “starves” the beaches of Quogue
- 10. “Profile Volume” EquilibriumProfiles Profile ShapeWill Change Frequently. But If the Profile VolumeRemains Constant, The Beach Is In Equilibrium After Kana 1990
- 11. Offshore Bar ApplicationTo Sagaponack & Bridgehampton-Water Mill Beach “Profile Volume”
- 21. Beach Restoration Underway At Bridgehampton, NY October 2013
- 25. All of theabove Scientific Investigations have been supported by: #justsayyestobeachnourishment www.quoguebeaches.com
- 26. MUNISTAT SERVICES, INC.wasestablished 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. Nadelson’s 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 “Bond School” 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 SERVICESCHEDULE 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 RestorationProject Project Costs and Funding Estimated Project Costs -$15,000,000 Based on: Length…………………………………………….2.7 Miles Cubic Yards of Sand………………………….. 1,100,000 Major Project Costs Dredge Mobilization-Demobilization……………………….$3 million 1,1,00,000 cubic Yards of Sand @ $10/Cubic Yard…….$11 million Design/Supervision/Monitoring………………………...…..$1 million
- 30. Quogue Beach RestorationProject Annual Funding Needs Project Costs$15,000,000 Interest Rate3.25% Annual Debt Service$1,780,900
- 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 RestorationProject 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 –VillageWide 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 –DuneRoad 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 –OceanfrontOnly 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 – 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 – 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. Quogue’s Ocean Beach A Place Worth Preserving All of the above Investigations have been supported by: #justsayyestobeachnourishment www.quoguebeaches.com