Marina Damage Hurricanes of 2004

1
Marina DamageHurricanes of 2004
2
Economic Impact of Marine Industry

• The Marine Industry of Florida represents a
  total economic impact output of over 15.7
  billion
• Responsible for over 180,000 jobs in the state

3
Estimated Marina Damage

• Marine Industries of Florida surveyed their
  members after the four storms and the following
  are the results of their member survey
• 78 Marinas reported damage
• 52 of those 78 reported damage estimates totaling
  39,698,105
• An average of 763,425 per marina facility

4
Post-hurricane Florida More condos, fewer
marinas?

• If they dont get help rebuilding, some of
  Floridas hurricane-damaged marinas and boatyards
  may be sold to condominium developers, and that
  will be bad for future growth of boating in the
  state. That was one of the concerns raised at a
  Marine Summit in December in Fort Lauderdale.
• - Jim Flannery, Soundings Magazine

5
Cost To Rebuild

• Dry stack 17,000 per slip average
• Wet slip 56,000 per slip average

6
Funding Proposal

• 2-10 million in grant funding
• Recipients identified as privately-owned marinas
  damaged during 2004 Named Hurricanes, Charley,
  Frances, Ivan, and Jeanne
• Appropriation to Grants-in-Aid fixed capital
  outlay
• Facility must be open for public access
• Cash match not required
• Similar to Florida Boating Improvement Program

7
Guidelines

• Eligibility
• Uninsurable losses only
• Repair/rebuild expansion costs cannot be
  reimbursed
• Insurance deductibles
• Debris removal

8
Award

• Applications submitted during advertised period
  (approx. 60 days)
• Committee to review, evaluate, rank
• Limit funding to 250,000 or less
• Grant agreement

9
Reimbursement Requirements

• Expenditures Prior to Award of Grant allowed
  but must be documented hurricane damage only and
  permitted by DEP
• Expenditures directly related to hurricane damage
• Advance funds not allowed
• Documentation pursuant to Comptroller
  requirements (expenditures)

10
Public Access

• Must remain open to public at least 5 years
• Reimburse State if

11
Questions?