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Financing Options Considered for Preserving Florida's Eroding Beaches

A huge new pot of money is now available in Florida, created by the Amendment 1 tax on real estate transactions. Many in the state would like to see some of the revenue dedicated to preserving the state's eroding beaches.
January 21, 2015, 8am PST | James Brasuell | @CasualBrasuell
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"Passed by an overwhelming majority of Florida voters last fall, Amendment 1 was billed as a way to force lawmakers to make water quality and land conservation a priority," according to Tony Marrero.

"But officials from coastal counties are focused on the places where water erodes the land as they seek a share of the estimated $22 billion the mandate is expected to raise over the next two decades."

There seems to be a strong coalition of support for some of the Amendment 1 funding to go toward beach preservation, which has become a more critical issue in Florida since the last finding mechanism for such purposes was approved some 13 years ago.

The Florida Shore and Beach Preservation Association is advocating for lawmakers to dedicate between $47 million and $60 million annually to beach preservation over the next 20 years. Marrero adds: "Their case is bolstered by a report last week from the Legislature's Office of Economic & Demographic Research that showed $1 invested in beach renourishment generated $5.40 in sales tax revenue."

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Published on Monday, January 19, 2015 in Tampa Bay Times
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