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Pinellas County trucks in Sand 2023-12-08

Gulf Coast Market Update

Gulf Coast
Real Estate Update

Decmber 8th, 2023 

Pinellas County 

uses sand from 

Polk County for 

Beach Renourishment

The sand Pinellas County has been using for emergency beach dune renourishment has been coming from mines near Davenport and driven about 90 miles to the Gulf of Mexico coastline. The county normally pumps sand from the Gulf onto the beach for renourishment, but that process requires a federal permit, which the county can’t secure because it’s in a battle with the Army Corps of Engineers over required permanent easements from all homeowners.

Engineers evaluated the sand sources for emergency beach dune renourishment from three different mines, prior to accepting the material. The inland sand must match the powder sugar-white beach sand. Florida statute requires a match to protect the sea turtles.

Funding beach renourishment is tricky. For years, Pinellas beaches have relied on a combination of funding. The standard? 65% from the federal government and 17.5% from Florida’s Tourist Development Tax. One-half of one percent of that tax gets set aside annually for beach renourishment projects, amounting to about $5 million or more. “That is why the Army Core of Engineers is important to renourish the beaches,” explains John Bishop, Coastal Management Coordinator of Pinellas County. The Army Corps represents that crucial 65% of federal funding.

Source: Bay News 9

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Coming Soon

 

Ocean Sands Two

Unit 702

2 Bedroom, 2 Bath

1,225 Square Feet

Direct Gulf Front

 

$1,250,000

Nearing Seven Percent 

Mortgage Rates 

Continue to Decrease

The 30-year fixed-rate mortgage averaged near 7 percent this week, down from nearly 7.80 percent just six weeks ago. When rates began to rapidly drop, purchase applications rebounded initially, but this improvement in demand diminished in the last week. Although these lower rates remain a welcome relief, it is clear they will have to further drop to more consistently reinvigorate demand.

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Doiron Realty Services
Pete Doiron
Broker


13800 Park Blvd. Suite 207
Seminole FL 33776
727-391-2829

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