The town is still figuring out "pre-construction related services" and how much to borrow.
The town of Longboat Key is sorting out the budget for its comprehensive beach management plan, Public Works Department project manager Charlie Mopps said.
Bayside District and Gulfside District voters in Sarasota and Manatee counties on March 17th approved a plan to borrow no more than $34.5 million in bonds to finance a series of beach maintenance projects.
Gulfside property owners will pay 80% of the debt through property taxes; with Bayside property owners paying 20%. Had Bayside owners rejected the proposal, the burden of 100% of the debt would have been passed on to Gulfside property owners.
Mopps did not provide an exact total on borrowing or the plan’s impact on tax bills. because the level of borrowing needed is not yet known. However, the $34.5 million max-total is derived without factoring in state and federal reimbursements.