Develop and implement a coastal plan (preferred option)
Cost
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Impact on rates
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Impact on debt
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Impact of levels of service
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$50,000 in year 1 to develop the plan.
$1.1M across years 2 to 4 to implement the plan, and another $1.3M across years 8 to 10.
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Rates increase of $224,000 on average to repay the debt.
Per property on average:
- Residential +$11.80
- Farming +$12.70
- Commercial +$17.70
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We would loan fund $1.1M over years 2 – 4 and repay it by year 7 before starting the next iteration of the plan in year 8.
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Increasing level of service for coastal and broader community through improvement to ecological services.
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