preliminary design of the quogue beach nourishment project
DESCRIPTION
Presented by Aram Terchunian at the August 16 speaker session held by the Save the Dunes and Beaches Foundation, Quogue, NY.TRANSCRIPT
More thanHalf of Quogue
Is in the HurricaneInundation Zone
Quogue
The Village of Quogue is Downdrift of Shinnecock Inlet
Shinnecock Inlet trapsApproximately
100,000 cubic yards of sand Per year, starving the beaches
Of Quogue and eroding theDunes and beaches
Erosion Waves
Apex ofErosion
Wave
Village Boundary
What Happens at Shinnecock Inlet Impacts the Village of Quogue
Because the sand flows from East to West
Sand Flow
Super Storm SandyDune Loss is episodic and tied to stormsWidth of Beach is deceptive
November 4, 2012
Shinnecock Inlet
Village Boundary
Village BeachVillage Beach
Overwashes fromOcean to Bay
Quogue Village Beach
Great Dune, East Quogue
Tiana Beach, Hampton Bays
Mermaid Lane, East Quogue
Post Super Storm SandyNovember 4, 2012
April 28, 2014
Shinnecock Inlet
Village Beach
VillageBoundary
Although the beach Width VariesThe Dune Line Continues to RetreatThis is symptomatic of an underlying
Erosional influence
Restored Dunes
Tiana Beach, East Quogue, NYAugust 13, 2014Overwash into Dune RoadFrom 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
1938
1996Deposition at Shinnecock Inlet
“starves” the beaches of Quogue
“Profile Volume”
Equilibrium Profiles
Profile Shape Will Change Frequently. But If the Profile Volume Remains
Constant, The Beach Is In Equilibrium
After Kana 1990
Offshore Bar
Application To Sagaponack & Bridgehampton-Water Mill Beach
“Profile Volume”
Beach Restoration UnderwayAt Bridgehampton, NY
October 2013
All of the above Scientific Investigations have been supported by:
#justsayyestobeachnourishment
www.quoguebeaches.com
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 continues even after securities are sold and delivered.
Noah H. Nadelson, Chief Executive Officer, [email protected] 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
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.
Quogue Beach Restoration ProjectProject Costs and Funding
Estimated Project Costs - $15,000,000
Based on:
Length…………………………………………….2.7 MilesCubic Yards of Sand………………………….. 1,100,000
Major Project Costs
Dredge Mobilization-Demobilization……………………….$3 million1,1,00,000 cubic Yards of Sand @ $10/Cubic Yard…….$11 millionDesign/Supervision/Monitoring………………………...…..$1 million
Quogue Beach Restoration Project
Annual Funding Needs
Project Costs $15,000,000
Interest Rate 3.25%
Annual Debt Service $1,780,900
Typical Tax Bill For Real Property in the Village of Quogue
Assessed Southampton Village of TotalValue Town Tax Quogue Tax Tax
Per $1,000Of 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
Village of Quogue
Assessed Value Number of Parcels
$3,113,281,545 1,772
FEMA Floodplain $2,464,543,750 1,166
Dune Road
Oceanfront $485,381,023 116Bayside $283,640,432 99
Total $769,021,455 225
Quogue Beach Restoration Project
Cost Allocations
Annual Debt Service = Tax RateAssessed Value / $1 Assessed Value
Tax Rate x 1,000 = Rate per $1,000 Assessed Value
Scenario One – Village 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
Scenario Two – Dune 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
Scenario Three – Oceanfront 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
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 ValueOr
$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 ValueOr
$152 for a Home Assessed at $1,000,000
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 ValueOr
$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 ValueOr
$136 for a Home Assessed at $1,000,000
Quogue’s Ocean BeachA Place Worth Preserving
All of the above Investigations have been supported by:
#justsayyestobeachnourishment
www.quoguebeaches.com