Dare County Shoreline Management Commission

Funding

Funding for the project is based on the model outlined below. Funding is from multiple sources and is dependent upon initial authorization and subsequent recurring authorizations from Congress, the NC General Assembly and local financing.

Federal Share 65%

Non Federal Share 35%

Non Federal Share Breakdown

State of North Carolina 75% of 35% non federal share or 26.25% of total
Local Dare County 25% of 35% non federal share or 8.75% of total

Local Dare County Share Breakdown for Initial Construction

           Tourist Bureau                     16% of 8.75% local share
           Property Assessments           84% of 8.75% local share
           See Financing Report from the Dare County Nourishment Committee
           Agenda item # 7 Dare Co Board of Commissioners meeting on April 7, 2003

Local Dare County Share for Maintenance and Renourishment

Room Tax Revenues 100% of 8.75% local share