packet of information - Town of North Topsail Beach

Town of North Topsail Beach
Due Diligence Meeting
Regarding the Application for Approval of the Issuance of
Special Obligation Bonds
Town of North Topsail Beach
Shoreline Protection Project
Second Event
(Phase 5)
October 11, 2013
Town of North Topsail Beach
Agenda
Due Diligence Meeting
Town of North Topsail Beach Officials & Contractors
NC Local Government Commission Staff
4505 Fair Meadow Lane, Blue Ridge Plaza, Suite 102
Raleigh, NC 27607
October 11, 2013
I.
Introduction:
Mayor Daniel Tuman
II.
Engineer’s Report: Robert Neal, Coastal Planning & Engineering
III.
Financial Plan: Doug Carter, DEC Associates, Inc.
IV.
Public Support: Carin Faulkner, Town Clerk
1
Town of North Topsail Beach
Town of North Topsail Beach
Shoreline Protection Project Second Event
(Phase 5)
Overview
•
Project Design--- 1.5 million cubic yards of sand on 3.85 miles of shoreline
•
FEMA Qualified Engineered Beach
•
Project Preserves Economic Base
•
Project Provides Property and Infrastructure Protection
•
Project has Overwhelming Public Support from Individuals, Homeowner Groups,
Local Organizations and County Government
•
USDA 30 Year Financing
2
3::on
o/J/Cw-4 ~ cf/i/!Beadh
Daniel Tuman, Mayor
Suzanne Gray, Mayor Pro Tern
Aldermen:
Don Harte
Tom Leonard
Richard Macartney
Michael Yawn
~
Stuart Turille
Town Manager
Carin Z. Faulkner, MPA
Town Clerk
October 9, 2013
T. Vance Holloman, Deputy Treasurer
N.C. Local Government Commission
325 N. Salisbury Street
Raleigh, North Carolina 27603-1385
RE: 30 Year Financing Repayment Plan
Mr. Holloman & LGC Staff,
The Town of No1th Topsail Beach has applied for and received 30 year financing because that is
all it can afford. It has exhausted all of its identified sources of revenue to fund the beach
restoration program which is needed to protect the Town's tax base against future major storms
and to avoid the need to rebuild any damaged shoreline or other public infrastructure with Town
funds. We believe that our financial plan is sound and the USDA has found us credit worthy.
We believe that what we are proposing to do is responsible municipal management and to do
otherwise or nothing would be derelict. The Town's plan is to invest in building a new
engineered beach and to maintain it indefinitely. The Town and County has over 45 years of
experience with the natural history in this location and the Town is confident that we have a
good plan that meets the need to physically preserve and protect this Town and meet its present
funding solution.
The absence of a shoreline protection plan puts the Town at risk. The present funding and
financing plan was developed after years of inchoate attempts to finding a solution. It's a good
plan. We acknowledge that a short term financing solution is preferable. Unfo1tunately, there
isn't a way to accomplish that now. We expect that by restoring and maintaining our beach, the
Town will experience future growth in size and revenue. New revenues could be then applied to
early repayment. The Town can adopt a policy statement to that effect and the LGC could
monitor our future beach fund balance and advise us accordingly.
I would like to clarify some additional details concerning our Town. We maintain a General
Fund reserve to operate the Town in case of a natural disaster. Our operating budget, exclusive
of the beach fund, is approximately two million dollars. We have enough reserves to operate the
Town should all other revenue sources disappear. The Town owns very little infrastructure.
Most roads are the responsibility of the Nmth Carolina Department of Transportation, and the
Town does not own or operate any utilities (electric, cable, phone, water, or sewer). The Town
has procedures and purchases insurance to protect Town-owned buildings and vehicles from loss
due to stmm events and emergencies. We also have anangements with Onslow County to move
2008 Loggerhead Court
North Topsail Beach, NC 28460
3
ntbnc.org
Phone (910) 328-1349
Toll Free: (800) 687-7092
Fax (910) 328-4508
Town of North Topsail Beach
30 Year Financing Repayment Plan
October 9, 2013
Page 2of2
Town operations off-island into County facilities at no cost if Topsail Island becomes inhabitable
for a period of time. The Town would need to advance some monies for debris removal should it
be impacted by a storm and our experience has been that FEMA always refunds our expenditures
and we don't expect that to change. Therefore, our Town budget is primarily to pay our
employees and to purchase supplies. Once we complete our shoreline protection plan, FEMA
will rebuild our beach and shoreline. This action further reduces the financial risk and the
recovery of the Town in the event of a storm. Our 30 year USDA loan should be viewed as a
long term insurance policy for our Town. This is an insurance policy that the LGC should
require the Town to purchase.
Respectfully,
Daniel Tuman
Mayor
cc: Tim Romocki, Director Debt Management
4
Town of North Topsail Beach
PROJECT DESCRIPTION
&
COST ESTIMATES
Town of North Topsail Beach
Shoreline Protection Project
Second Event
5
North Topsail Beach Shoreline Protection Project
Phase 5 Beach Restoration
Project Description
The Town of North Topsail Beach intends to construct the Phase 5 Restoration beginning in FY
2013 / 2014. The design beach includes a 25 ft wide dune fronted by a 45 ft wide berm. The dune
elevation is established at +14 ft NAVD and the berm elevation is +6 NAVD. Sufficient advance
nourishment will also be placed to maintain the beach through the design life. The average fill
density to complete the project is approximately 75 cubic yards per linear foot (cy/lf) for an
estimated total fill volume of 1,500,000 CY. Material is proposed to be dredged from the
offshore borrow area located approximately one-half (1/2) to one and one-half (1-1/2) miles
offshore at the northern limits of Phase 5.
Current estimates show a total construction cost of $16,859,778, including a 15% contingency
and engineering related services. A cost breakdown is provided below in Table 1. The
engineering services include permit required monitoring designed to verify if potential
environmental impacts occur during construction and inspection services to verify contractor
compliance. In addition, physical monitoring costs to document project performance are included
through the 4th year post construction. Additional fees associated with the project financing are
also included in the estimate.
Table 1. Project Cost
Construction
Description
Item
Mobilization /
1
Demobilization
Hydraulic
2
Beach fill
Unit of
Measure
Quantity
Unit Price
Job
1
$2,900,000
$2,900,000
1,500,000
CY
$7.25
$10,875,000
Subtotal
15%
Contingency
Total Cost
$13,775,000
$2,066,000
Subtotal
$15,841,000
Engineering Services (Pre-construction)
$218,678
Engineering Services (Construction & Post Construction)
$560,000
Engineering Services (Year 1 - 4 Post Construction)
$180,100
Legal Services1
$25,000
Financial Advisory1
$25,000
Short Term Financing 1
$10,000
Total
(1)
$16,859,778
Estimates provided by the Town of North Topsail Beach
1
COASTAL PLANNING AND ENGINEERING OF NORTH CAROLINA, INC.
6
North Topsail Beach Shoreline Protection Project
Phase 5 Beach Restoration
Project Description
Future shoreline maintenance will be required to maintain the beach design on an approximate 5
year interval. Erosion trends calculated between 2005 and 2013 verify approximately 100,000
CY per year will be needed to sustain the 11.1 miles of shoreline in North Topsail Beach. This
volume is anticipated to be available through periodic maintenance of New River Inlet.
Maintenance events are currently proposed on a 5 year interval and are expected to provide
approximately 500,000 CY for each event. The reoccurring cost of the maintenance is estimated
at $8,073,000 with an annual 1.3% inflation rate. The first maintenance event is anticipated in
FY17-18 for a total construction cost of $8,612,000
In the event of a major storm the Town is taking the necessary steps to remain eligible for federal
aid through FEMA’s Public Assistance (PA) Program. The assistance may be provided to replace
sediment lost from the beach during a presidentially declared disaster. To maintain the eligibility
status the Town must establish and adhere to a maintenance program involving periodic
nourishments to preserve the projects original design. The Town has adopted such a program and
is moving forward with the implementation.
The Town of North Topsail Beach has a unique opportunity to move forward with the
construction of the Phase 5 Beach Restoration with the assistance of a Rural Development loan.
There are milestones in place that must be surpassed to recognize the opportunity but the Town
is in positions to accomplish the work. Completing the shoreline restoration will provide a viable
resource for supporting the tourist based economy and mitigating against potential storm damage
to the upland infrastructure.
2
COASTAL PLANNING AND ENGINEERING OF NORTH CAROLINA, INC.
7
2 1
3
1 – Design Template 2 – Advance Nourishment Template
3 – Profile Equilibration Material
8
Town of North Topsail Beach
PROJECT SCHEDULE
Town of North Topsail Beach
Shoreline Protection Project
Second Event
9
North Topsail Beach
Phase 5 Beach Restoration
Project Schedule
1-Apr
15-Mar
1-Mar
15-Feb
1-Feb
15-Jan
1-Jan
15-Dec
1-Dec
15-Nov
1-Nov
15-Oct
Date
Estimated # of Days
Required
Task
Description
1
USDA Review and
Approval of Project
Estimated Complete
by Oct 15th
2
Solicitation for
Construction Contract
30 Days required by
NCGS.
3
Bid Review / Final LGC
Approval / Contract Award
15 Days
4
Construction
100 Days
Notes
1
Schedule assumes USDA review is complete by Oct.15th or can be conducted concurrently with Bid Advertisement.
2
Estimated number of days assumed from time frames experienced with the current and previous projects.
10
Town of North Topsail Beach
BEACH MAINTENANCE PLAN
(Town/FEMA)
Town of North Topsail Beach
Shoreline Protection Project
Second Event
11
Cover page of
NTB Beach
Maintenance
Plan to Provide
to FEMA
(Plan prepared per FEMA's Disaster
Assistance Fact Sheet - DAP9580.8)
Full plan available upon request
12
13
14
15
16
17
Town of North Topsail Beach
30 YEAR SHORELINE PROTECTION
FINANCIAL PLAN
Town of North Topsail Beach
Shoreline Protection Project
Second Event
18
North Topsail Beach
Shoreline Protection Project - Phase 5 - Schedule of Revenues, Expenses & Available Fund Balance for Ongoing Beach Maintenance
Revenues
Occupancy Tax 15 Cents dedicated AV Sales Tax Totals -
FY13-14
$
850,000
$ 1,244,280
$
345,000
$ 2,439,280
Expenses
Phase One Debt - $
Phase Five Debt Beach Maintenance* Annual Operating - $
Totals - $
Surplus/(Deficit) Transfer to USDA Reserve Fund Beach Fund Balance For Maintenance -
617,416
200,000
817,416
FY14-15
$ 913,750
$ 1,244,280
$ 960,000
$ 3,118,030
FY15-16
$ 982,281
$ 1,244,280
$ 960,000
$ 3,186,561
FY16-17
$ 1,055,952
$ 1,244,280
$ 960,000
$ 3,260,232
FY17-18
$ 1,135,149
$ 1,244,280
$
960,000
$ 3,339,429
$
$
$
$
$
$
$
577,883
$
914,400
$ 4,306,000
$
243,101
$ 6,041,384
607,533
914,400
$ 210,000
$ 1,731,933
597,650
914,400
$ 220,500
$ 1,732,550
587,766
914,400
$ 231,525
$ 1,733,691
LGC Meeting - No Growth
Friday, October 11, 2013
FY18-19
$ 1,191,906
$ 1,244,280
$ 960,000
$ 3,396,186
FY19-20
$ 1,251,502
$ 1,244,280
$ 960,000
$ 3,455,782
FY20-21
$ 1,314,077
$ 1,244,280
$ 960,000
$ 3,518,357
$
$
$
$
FY21-22
1,379,780
1,244,280
960,000
3,584,060
$
$
$
914,400
$
914,400
$ 281,420
$ 1,195,820
$
$
295,491
1,209,891
914,400
$ 255,256
$ 1,169,656
914,400
$ 268,019
$ 1,182,419
$ 1,621,864 $ 1,386,097 $ 1,454,011 $ 1,526,541 $ (2,701,955) $ 2,226,530 $ 2,273,362 $ 2,322,537 $
$ (1,621,864) $
(91,440) $
(91,440) $
(91,440) $
(91,440) $
(91,440) $
(91,440) $
(91,440) $
$
-
$
$
$
$
FY22-23
1,448,769
1,244,280
960,000
3,653,049
$
$
$
$
914,400
4,593,031
310,266
5,817,697
$
$
$
$
FY23-24
1,521,208
1,244,280
960,000
3,725,488
$
$
$
$
FY24-25
1,597,268
1,244,280
960,000
3,801,548
$
914,400
$
914,400
$
$
325,779
1,240,179
$
$
342,068
1,256,468
2,485,309 $
(91,440) ..
2,545,080
2,374,169 $ (2,164,648) $
(91,440) $
(91,440) $
$ 1,294,657
$ 2,657,228
$ 4,092,330
$ 1,298,934
$ 3,434,024
$ 5,615,946
$ 7,847,043
$ 10,129,772
$
7,873,685
$ 10,267,554
$ 12,812,634
$
91,440
$ 4,591,440
$
91,440
$ 4,682,880
$
91,440
$ 4,774,320
$
91,440
$ 4,865,760
$
91,440
$ 4,957,200
$
91,440
$ 5,048,640
$
91,440
$ 5,140,080
$
$
$
$
91,440
5,322,960
$
$
$
USDA Reserve Account Requirements**
Required at Closing 10% of Annual Payment for 10 Years Total USDA Reserve Fund Balance -
$ 4,500,000
$ 4,500,000
91,440
5,231,520
91,440
5,414,400
5,414,400
Notes
Beach Maintenance Cost* - The Shallow Draft Inlet Dredging bill became law this year (NCGS143-215). The law provides a 1:1 $$ match from the State to dredge our New River Inlet. The inlet is
immediately adjacent to the Town and is the sand source for maintaining the beach every 4-5 years.
USDA Reserve Fund** - USDA requires a reserve fund of five annual payments, totaling $4,500,000, set up in a separate fund and 1/10 of annual debt service deposited in an account for 10 years.
The $4,500,000 is established using the Beach Fund Balance ending FY12-13 ($1,341,113); the surplus Beach Fund revenue of FY13-14 ($1,621,864) and a portion of the
General Fund's Fund Balance ($1,537,023).
19
North Topsail Beach
Shoreline Protection Project - Phase 5 - Schedule of Revenues, Expenses & Available Fund Balance for Ongoing Beach Maintenance
Later Years
FY25-26
Revenues
FY26-27
FY27-28
FY28-29
FY29-30
FY30-31
FY31-32
FY32-33
FY33-34
FY34-35
FY35-36
FY36-37
Occupancy Tax -
$
1,677,132
$
1,760,988
$
1,849,038
$ 1,941,490
$ 2,038,564
$ 2,140,492
$
2,247,517
$
2,359,893
$ 2,477,887
$ 2,601,782
$
2,731,871
$
2,868,464
15 Cents dedicated AV -
$
1,244,280
$
1,244,280
$
1,244,280
$ 1,244,280
$ 1,244,280
$ 1,244,280
$
1,244,280
$
1,244,280
$ 1,244,280
$ 1,244,280
$
1,244,280
$
1,244,280
Sales Tax -
$
960,000
$
960,000
$
960,000
$
$
$
960,000
$
960,000
$
960,000
$
$
960,000
$
960,000
$
960,000
Totals -
$
3,881,412
$
3,965,268
$
4,053,318
$
4,451,797
$
4,564,173
$ 4,682,167
$ 4,806,062
$
4,936,151
$
5,072,744
..
..
960,000
960,000
$ 4,145,770
$ 4,242,844
$ 4,344,772
..
..
..
960,000
Expenses
Phase One Debt Phase Five Debt -
..
$
914,400
..
$
914,400
Beach Maintenance* -
..
$
914,400
$
5,200,000
Annual Operating -
$
359,171
$
377,130
$
395,986
Totals -
$
1,273,571
$
1,291,530
$
6,510,386
Surplus/(Deficit) -
$
2,607,840
$
2,673,738
Beach Fund Balance For
Maintenance - $
15,420,475
$
Total USDA Reserve Fund Balance - $
5,414,400
$
$
$
914,400
415,786
$
$
914,400
436,575
$
$
914,400
..
$
914,400
..
$
914,400
$
5,720,000
458,404
$
481,324
$
505,390
7,139,790
..
..
$
914,400
$
914,400
$
914,400
$
914,400
$
530,660
$
557,193
$
585,052
$
614,305
$ 1,330,186
$ 1,350,975
$ 1,372,804
$
1,395,724
$
$ 1,445,060
$ 1,471,593
$
1,499,452
$
1,528,705
$
(2,457,069) $ 2,815,584
$ 2,891,869
$ 2,971,969
$
3,056,073
$ (2,575,617) $ 3,237,108
$ 3,334,469
$
3,436,699
$
3,544,040
18,094,213
$
15,637,144
$ 18,452,728
$ 21,344,598
$ 24,316,566
$ 27,372,639
$ 24,797,022
$ 28,034,130
$ 31,368,599
$
34,805,298
5,414,400
$
5,414,400
$ 5,414,400
$ 5,414,400
$ 5,414,400
$
$
$ 5,414,400
$ 5,414,400
$
5,414,400
Transfer to USDA Reserve Fund -
20
5,414,400
5,414,400
$ 38,349,338
$
5,414,400
Town of North Topsail Beach
FINANCING CALENDAR
Town of North Topsail Beach
Shoreline Protection Project
Second Event
21
Town of North Topsail Beach
2013 Shoreline Protection Financing
Preliminary Financing Calendar
OCTOBER 2013
S
M
NOVEMBER 2013
T
W
T
F
S
1
2
3
4
5
S
M
T
W
T
DECEMBER 2013
F
S
S
M
T
W
T
F
1
2
1
2
3
4
5
6
S
7
6
7
8
9
10
11
12
3
4
5
6
7
8
9
8
9
10
11
12
13
14
13
14
15
16
17
18
19
10
11
12
13
14
15
16
15
16
17
18
19
20
21
20
21
22
23
24
25
26
17
18
19
20
21
22
23
22
23
24
25
26
27
28
27
28
29
30
31
24
25
26
27
28
29
30
29
30
31
* Board of Aldermen Meetings
Date
Action
Responsible Parties
August 27
Submit Letter to Joint Legislative Committee
Town, BC
September 30
Board of Aldermen Holds Public Hearing
Town, BC
October 3
Board of Aldermen Adopts Initial Financing Resolution
Town, BC
October 11
LGC Due Diligence Meeting
Town, FA
October 14
Distribute Request for Proposal (RFP) for Interim Construction Financing
Town, FA
October 25
Interim Construction Financing RFP Responses Due
BANK
October 15
Advertise Construction Bids
Town
October 28
Town Awards Private Placement Provider
Town
November 1
Submit LGC Application
Town
November 8
Distribute 1 Draft of Documents
November 15
Receive Construction Bids & Opening
November TBD
Document Review Call
November TBD
Finalize Documents
BC,PC,FA
November TBD
Town Adopts Approving Resolution Approving Financing Documents
Town; BC
December 3
LGC Approval
December 11
Closing; Town Awards Construction Contracts
December TBD
Construction Begins
st
BC, PC
Town
All
LGC
Town
Participants
Local Government Commission
Town Attorney
Parker Poe - Bond Counsel
Private Placement Counsel
Monday, October 7, 2013
LGC
TA
BC
PC
Town of North Topsail Beach
DEC Associates – Financial Advisor
Private Placement Provider
22
Town
FA
BANK
v1
Town of North Topsail Beach
EXAMPLES OF SHORELINE PROTECTION
BENEFITS
Town of North Topsail Beach
Shoreline Protection Project
Second Event
23
Post-Irene assessment shows beach renourishment protects coast, government officials sa... Page 1 of 1
Post-Irene assessment shows beach renourishment protects coast,
government officials say
Posted: September 3, 2011 - 12:00am
J
View this story on the All-Access Members site
By Drew Dixon
While Duval County beaches recently replenished with sand held up under high tides and pounding surf from Hurricane Irene, officials say, more
importantly, the project proved its worth as a buffer while facing high seas.
About 700,000 cubic yards of sand at the cost of $11.8 million were pumped onto beaches in Jacksonville Beach and Atlantic Beach this summer as part
of the beach renourishment project by the U.S. Army Corps of Engineers in hopes of stabilizing erosion. But it appears damage from the tropical blast
would have been much worse if the project had not been completed in August just before the storm passed the First Coast on route to the Carolinas and
New England.
"The project performed beautifully," said Army Corps Project Manager Steve Ross in a news release issued this week.
But more importantly to the coastal communities that were buttressed with the sand, the increased elevation of the beach and widening of the shoreline
staved off what could have been a costly overrun of storm surge.
"I'm happy that we didn't get any damage," said Atlantic Beach City Manager Jim Hanson. "It certainly was a lot of federal, state and local money that
went into the project. We would hope that it would last for a number of years before it would have to be redone."
Atlantic Beach had about two miles of beach renourishment and Jacksonville Beach had about four miles of replenishing sand pumped onto its beaches.
Neptune Beach was not part of the project because Army Corps officials determined that city's shoreline had no significant erosion in the past six years.
"The good part about it is, had we not had that sand there prior to this we could have had more damage from water," said Jacksonville Beach Emergency
Management Coordinator and Fire Chief Gary Frazier. "Those things, they do help."
The Army Corps did not respond to requests about how much sand was lost.
Frazier and Hanson both said there was little sand lost in Atlantic Beach and Jacksonville Beach.
Frazier added the new sand pumped onto the beach is still visible in many areas, providing for a safe buffer from astronomically high tides.
"I think there's still some newer sand," Frazier said. "If you look at the dunes, there's still a pretty nice hump up there. There's still a nice amount of sand
on what I call the ridge.
"I just think that had we not had it, we could have had a lot more damage from wave action. You know, it's a good deal to renourish the beaches because
it does give you a little more protection," Frazier said.
drew.dixon@jacksonville.com, (904) 249-4947, ext. 6313
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24
http://jacksonville.com/community/shorelines/2011-09-03/story/post-irene-assessment-sho... 10/8/2013
Page 1 of 3
Printed from the Charlotte Observer - www.CharlotteObserver.com
Posted: Sunday, Sep. 04, 2011
Extra sand helped limit Irene damage
By John Frank
PUBLISHED IN: LOCAL NEWS
Related Stories
NAGS HEAD Mike Phillips didn't know what
to expect when he arrived at his beachfront
house a day after Hurricane Irene shredded the
North Carolina coast.
Related Images
At high tide, the waves can lap the bottom
steps from this house to the South Nags Head
beach. And bad storms in years past ripped the
stairs off completely.
0903 Nags head.eps
But what Phillips found when he arrived last
week shocked him: a wide expanse of beach
between his house and the Atlantic Ocean.
"This time, the stairs wouldn't have even
gotten wet, if not for the rain," he said.
His saving grace: 5 million tons of sand the
town pumped onto the beach as part of a $36
million renourishment project that could prove
to be an example for other coastal
communities to follow.
The Category 1 hurricane, with winds hitting
80 mph and waves cresting over 10 feet,
served as an early test for the project, which
began in May after months of controversy
about whether it amounted to throwing money
into the sea.
But with about 85 percent of the project
complete, town officials say the extra sand
saved beachfront houses and roads. Even a
row of condemned homes on Seagull Street
that stand partially in the water were spared
further harm.
It is the first time in recent memory that a
hurricane didn't push the ocean over the dunes
in Nags Head. Even Hurricane Earl, which
skirted the state's coast last year, led to
overwash.
25
http://www.charlotteobserver.com/2011/09/04/v-print/2577927/extra-sand-helped-lim... 09/06/2011
Page 2 of 3
"It's one of the better outcomes we could have
had," said Bob Oakes, the town's mayor. "The
waves didn't hit the dunes, which is good
because when they do it's a hot knife through
butter."
0903 Nags head Beach restoration.eps
But sand did disappear. About 1 million cubic
yards - or nearly 25 percent - of the new sand
washed from the beach, according to an
assessment this week from the project's
engineers.
The beach receded an average of 72 feet at
mean sea level but it is still about 130 feet
larger than before the project began, the report
states.
The loss of sand is part of the design,
according to project engineers, who want it to
move from the visible beach to a protective offshore bar that will help break big waves. In the
natural beach cycle, future storms will even put sand from the bar back onshore, engineers
suggest.
"It's like an iceberg," explained Tim Cana with Coastal Science & Engineering, the project's
designer. "The bottom half of the iceberg is underwater and holds it all up."
The major question remaining is what happened to the sand gobbled by the sea. If it went just
offshore, it's not considered "lost."
An underwater assessment is expected this weekend once rough seas subside. But based on the
strength of the storm and the falling tide, Cana estimates "just a small fraction was completely lost
out of the sandbox." If the town lost sand, it could qualify for FEMA money to replace it.
In the end, about half of the 4.6 million cubic yards of the new sand should shift offshore. The
final beach is projected to be 50 to 150 feet wider when the project is completed in October.
To get an idea of what would have happened without the project, Cana pointed northward to
Duck, where the ocean crested 13 feet above mean sea level and clawed the steep beach and dunes
in some areas.
"In South Nags Head, 13 feet would have cut back dunes, put water in houses and water on roads,"
he said.
A test case for projects
The project is being watched closely by others along the state's 320-mile coastline, where the $20
billion tourism industry is at stake. Local municipalities increasingly are taking the lead as federal
funds for beach projects wane.
With about $8 billion in insured real estate value competing against a sea level expected to rise 1
meter by 2100, renourishment projects are under way or being considered by a number of towns
along the coast.
Greg Loy, the planning director for the town of Kill Devil Hills, said the good news from Nags
Head could ease concerns in his community as the town advances through the early stages of
planning a beach fortification project.
26
http://www.charlotteobserver.com/2011/09/04/v-print/2577927/extra-sand-helped-lim... 09/06/2011
Page 3 of 3
"It's always helpful to have somebody with some experience," he said.
The hurricane caused some erosion in Kill Devil Hills, Loy said, and FEMA officials are
recommending a small emergency berm to protect houses on a particularly vulnerable 2,500-foot
stretch of beach.
"We did have some sand moving around because there were big waves," Loy said, adding that the
town dodged a bullet when the wind direction shifted as the storm neared the town.
Will it last?
How the northern Outer Banks would fare in a stronger storm, or one that hits at high tide, is still
unknown.
But the hurricane did answer a number of questions for anxious Nags Head residents, who initially
voted against the project before town commissioners declared it an emergency situation and used
$18 million in bonds and $18 million generated by tax hikes to make it happen.
For this tiny town that spans 10 miles of beach, the project will cost about $3.6 million a mile and
last about 10 years.
With debt financing and engineering costs included, officials said the price tag will reach closer to
$38 million.
"I'll give them the benefit of the doubt until the sand washes away," said Mike Scruggs, a town
resident who lives off the beach.
A message scrawled on a beach access boardwalk near the Nags Head Fishing Pier highlighted the
still simmering controversy. "Show them whose boss Irene. This project is killing our surf zone,"
it read.
Phillips, like many beachfront property owners, was skeptical about the project, especially at first.
The price alone soured him. To pay for it, the town levied steep taxes on oceanfront homeowners.
He said the projected added $3,000 to his property tax bill this year.
But now, after the storm, what does he think?
"I was shocked at how well it worked," he said. "I'm a believer."
Staff writer Mandy Locke and staff researcher Teresa Leonard contributed.
Subscribe to The Charlotte Observer.
27
http://www.charlotteobserver.com/2011/09/04/v-print/2577927/extra-sand-helped-lim... 09/06/2011
May 7, 2013
Contact: Ken or Kate Gooderham, ASBPA executive directors -- (239) 489-2616 or
exdir@asbpa.org
Harry Simmons, ASBPA president -- (910) 200-7867 or president@asbpa.org
Superstorm Sandy aftermath: A quiz
At the recent ASBPA Coastal Summit held in Washington, DC, Tom Campbell, P.E., of
CBI/Coastal Planning and Engineering, gave a presentation entitled “Performance of
U.S. Restored Beaches during Major Storms,” including a number of facts about beach
restoration and storm damage about which that many in the audience (and, likely, many
of you readers) were not aware.
Test your knowledge about some of the impacts of Superstorm Sandy.
1. Why did Fire Island, New York, fare better in Sandy than some of its neighbors?
A. Its rocky shoreline rebuffed the storm’s winds and waves.
B. It had large seawalls along the coastline.
C. It had large dunes ranging from 10-20 feet in height that absorbed the storm waves.
The answer is C. The robust coastal dune system saved the bulk of the island’s 4,500
homes. If you visited Avalon or Ocean City in New Jersey, post-Sandy you would have
seen the same positive result for the same reason: Dunes make a difference.
2. According to a U.S. Corps of Engineers spokesman, in the areas affected by Sandy
every place where there was an engineered beach project in place, the community fared:
A. Relatively poorly.
B. Relatively well.
C. It had no impact.
The answer is B. Although there was still flooding from the storm, the engineered
beaches reduced the direct impacts of the storm. An engineered beach is designed for
storm protection, since its engineering is based on extensive research and modeling.
3. In coastal areas with no tall dunes that were hit by Sandy:
A. Destruction was complete.
B. Homes and businesses absorbed the waves.
C. There was extensive flooding.
D. All of the above.
The answer is D. In areas without healthy, high dunes, the destruction was complete.
Without dunes to absorb the storm waves, homes, businesses and other infrastructure
did – and flooding was more extensive as well.
28
4. Sandy’s damage increased where:
A. Dunes were lowered because they obstructed the view.
B .Segments of beach restoration projects were not built because people wouldn’t sign
the necessary construction easements.
C. Both.
D. Neither.
The answer is C. Unfortunately, storm damage increased where dunes were lower in
heights AND where beach project segments were not built (meaning the beach in front
of those dunes was not as wide). Although some dunes are better than no dunes, they
should be designed at the appropriate storm protection height for the beach and upland
properties at hand. Dunes are meant for shore protection – which means protecting
coastal communities – one of the benefits of wider beaches as well.
5. The lessons of Sandy show us which of the following can limit storm damages:
A. Wide beach.
B. High dunes.
C. Elevated homes.
D. All of the above.
The answer is D. Superstorm Sandy proved again and again that, along the coast, wide
beaches, high dunes and elevated homes were the combination that resulted in the least
storm damage and overall community misery. Wide beaches and high dunes provided
storm protection, while elevated homes limited (or even eliminated) the impacts of
flooding.
###
ABOUT ASBPA: Founded in 1926, the ASBPA advocates for healthy coastlines by
promoting the integration of science, policies and actions that maintain, protect and
enhance the coasts of America. For more information on ASBPA, go to www.asbpa.org,
Facebook or www.twitter.com/asbpa. This information is provided by the American Shore
& Beach Preservation Association. For information, to change your email address or to
unsubscribe from this list, contact us at exdir@asbpa.org. A complete collection of Beach
News Services articles is available for media access online at
http://www.asbpa.org/news/newsroom_beachnews.htm.
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Copyright © 2013 ASBPA, All rights reserved.
Member of the ASBPA board of directors
Our mailing address is:
ASBPA
5460 BEAUJOLAIS LANE
Fort Myers, Florida 33919
29
Town of North Topsail Beach
SUPPORT FOR PROJECT
Town of North Topsail Beach
Shoreline Protection Project
Second Event
30
Communication Received in Support of NTB Shoreline Protection Projects
Number of Households Represented
Individual Property Owners
Mr. and Mrs. Paul Lawlor, Mr. and Mrs. Eric Emerich , Mr. and Mrs. John
Slocum, Mr. and Mrs. Karl Priest, Rick Bumgardner, Udo Perkuhn JoAnn
Williams, Mr. and Mrs. Howells, Mr. and Mrs. Hoffman , Lou Gagliano, Mr. &
Mrs. Bill Bowman, Emily Easter, Mr. and Mrs. Pat Bagnal, Mr. and Mrs. Bob
Reynolds, Mr. and Mrs. Jon Samuelson, Mr. and Mrs. Jeffrey Stevens, Mr. and
Mrs. J.P. Chalmin, Mel Hauser, Mr. and Mrs. Patrick Teen, Frank Frattalone
20
Property Owner Groups
Donald Street, Topsail Reef HOA President (238 units)
Wayne Pace Board of Directors, St. Regis Homeowners Association (243 units)
St. Moritz Homeowners Association (32 units)
Calinda Cay Owners Association (16 units)
Ocean City Beach Citizens Council (179 properties)
(See attached resolutions)
708
Local Governments/Organizations
Topsail Island Shoreline Protection Commission (representatives from North
Topsail Beach, Surf City, and Topsail Beach serve on this commission)
Greater Topsail Island Chamber of Commerce
Onslow County Board of Commissioners
(See attached resolutions)
Total
728
Communication Received Against NTB Shoreline Protection Projects
Number of Households Represented
Property Owners
Faye Daino, Ed Doherty, David Crump, Mr. and Mrs. William Walsh, Debra
Swantek, Robert Swantek, Bill O’Donnell, Mr. & Mrs. Emmanuel Lionikis,
Gregory Hoch, Georgia Routsis Savas, Ed Tennett, Richard Farley
Total
31
11
11
Ocean City Beach Citizens' Council
RESOLUTION IN SUPPORT OF FUNDING FOR THE
NORTH TOPSAIL BEACH
BEACH RESTORATION AND MAINTENANCE PROGRAM
WHEREAS, The Town of North Topsail Beach, its residents, property owners and visitors from all over
the nation, recognize that our beautiful beach we love and enjoy so much is eroding;
WHEREAS, The Town of No1ih Topsail Beach has sought for many years to understand and address this
chronic threat to our homes, our livelihoods, and our property, investing more than $10 million in various
studies, federal and local investigations, beach restoration projects, and design and permitting efforts; and
WHEREAS, The OCBCC members recognize the critical necessity of a wide beach and healthy dune
system to provide recreational benefits to all, reduce potential property damage caused high tides,
nor'easters, hurricanes and storms, and to ensure our resort economy and our community continues to
prosper and thrive; and
WHEREAS, The OCBCC takes special notice of the challenges we face as a community when persistent
erosion takes away our beach as this unrelenting natural force reveals not only our vulnerability as a
barrier island community but also the differences of view on this matter within the Town; and
WHEREAS, After years of effort, the Town has secured all necessary permits to undertake a long-term
beach restoration and maintenance program beginning with Phase I this year and continuing through
Phase V in coming years; and
WHEREAS, The Town recognizes that the beach restoration and maintenance program cannot be
undertaken without the financial patiicipation of the state, county, and visitors who come to enjoy our
fabulous public beach; and
WHEREAS, The Town is working persistently to develop a comprehensive funding strategy for our
beach restoration and maintenance program and, with all diligence and good faith, will seek to secure fair
financial participation of the State of North Carolina, Onslow County, and visitors to North Topsail Beach
in the NTB beach restoration and maintenance program;
NOW, THEREFORE, BE IT RESOLVED, that the Ocean City Beach Citizens' Council does hereby
support the NIB Beach Restoration and Maintenance Program and including, should it come to pass, the
implementation of the Federal Beach Restoration Project, including the willingness of our members and
property owners to contribute to the cost of these projects though an increase in property taxes in a
manner that is fair and equitable to all.
32
RESOLVED AND PASSED by the Ocean City Beach Citizens' Council, by affixing our signatures this
;Lo~ day of July, 2012.
33
Chamber of Commerce and Tourism
Resolution in Support of USDA Financing
for North Topsail Beach Shoreline Protection Project
WHEREAS, the Town of North Topsail Beach is located in Onslow County on
Topsail Island and the beaches within the town are a valuable asset to the Island and
are enjoyed by County, State and non-State citizens and visitors alike accounting for
more than $60 million dollars of annual tourist related economic activity and the creation
of 950 local jobs; and
WHEREAS, The Greater Topsail Area Chamber of Commerce & Tourism
understands that shoreline erosion poses a genuine threat to public beach access,
public and private property, businesses and infrastructure, creating the risk of significant
costs in reconstruction and lost tax revenue; and
WHEREAS, The Topsail Chamber recognizes that a safe, wide, attractive beach
is the critical drawing point to our Island, and that every effort must be undertaken to
support the beach through ongoing beach nourishment and shoreline protection efforts,
to create new jobs and businesses on the Island
NOW, THEREFORE, BE IT RESOLVED, that the Topsail Island Chamber of
Commerce does hereby support the action of the Town of North Topsail Beach to fund
the future phases of the Town's shoreline protection plan (Phases 2 through 5) through
USDA financing.
Adopted this the 181h day of September 2013 by the Board of Directors of The Greater
Topsail Area Chamber of Commerce & Tourism.
J:
Craig Stinson, Director
Greater Topsail Area Chamber of Commerce & Tourism
Greater Topsail Area Chamber of Commerce & Tourism
13775 Highway 50 #101 I PO Box 2486, Surf City, NC 28445
910-329-4446 I www.topsailchamber.org I info@topsailchamber.org
34
Resolution in Support of USDA Financing
for North Topsail Beach Shoreline Protection Project
WHEREAS, the Town of North Topsail Beach is located on Topsail Island and the beaches within the town are a
valuable asset and are. enjoyed by visitors accounting for more than $60 million dollars of annual tourist related economic
activity and the creation of 950 local jobs; and
WHEREAS, shoreline erosion poses a genuine threat to public beach access, public and private property, businesses
and infrastructure, creating the risk of significant costs in reconstruction and lost tax revenue; and
WHEREAS, the town's risk is comparable to areas of New York and New Jersey that were recently impacted by
Super Storm Sandy which showed that areas without shoreline protection sustained significantly more damage than areas
(shoreline and inland) that were protected by engineered shoreline projects; and
WHEREAS, the Town of North Topsail Beach has developed a responsible shoreline management plan which
provides a long-term solution to shoreline erosion which builds and maintains an engineered FEMA qualified beach for the
entire town which would make the Town eligible for federally funded replacement after storm events (per FEMA DAP9580.8);
and
WHEREAS, acting in response to a need for action in order to protect structures, maintain tax and economic base,
protect public infrastructure including facilities for public recreational access, the North Topsail Beach Board of Aldermen has,
under authority of Notih Carolina General Statute (Chapter 160A Article 23), cteated municipal service districts for erosion
control and hurricane protection works for all phases of the Town's shoreline protection plan in order to finance, provide, and
maintain its beaches; and
WHEREAS, the Town of North Topsail Beach has sought methods to fund its shoreline protection plan and has found
the sole affordable long term financing solution through 30 year United States Department of Agriculture (USDA) financing.
NOW, THEREFORE, BE IT RESOLVED, that the Topsail Island Shoreline Protections Commission does hereby
support the action of the Town of Notih Topsail Beach to fund the future phases of the Town's shoreline protection plan
(Phases 2 through 5) through USDA financing.
Adopted this the 26th day of September 2013.
ction Commission
attest:
Patricia Arnold, Recording Secretary
214 N New River Dr· Surf City, NC 28445 ·Phone: 910-328-4131 ·Fax: 910-328-1476 ·Email: parnold@townofsurfcity.com
35
State of North Carolina
County of Onslow
Resolution 13-014 in Support of USDA Financing
for North Topsail Beach Shoreline Protection Project
WHEREAS, the Town of North Topsail Beach is located in Onslow County and the beaches within the
town are a valuable asset to the County and are enjoyed by County citizens and visitors alike accounting for
more than $60 million dollars of annual tourist related economic activity and the creation of 950 local jobs; and,
WHEREAS, shoreline erosion poses a genuine threat to public beach access, public and private
property, businesses and infrastructure, creating the risk of significant costs in reconstruction and lost tax
revenue; and,
WHEREAS, the town's risk is comparable to areas of New York and New Jersey that were recently
impacted by Super Storm Sandy which showed that areas without shoreline protection sustained significantly
more damage than areas that were protected by engineered shoreline projects (shoreline and inland); and
WHEREAS, the Town of North Topsail Beach has developed a responsible shoreline management
plan which provides a long-term solution to shoreline erosion which builds and maintains an engineered FEMA
qualified beach for the entire town which would make the Town eligible for federally funded replacement after
storm events (per FEMA DAP9580.8); and
WHEREAS, acting in response to a need for action in order to protect structures, maintain tax and
economic base, protect Town and County infrastructure including facilities for public recreational access, the
North Topsail Beach Board of Aldermen has, under authority of North Carolina General Statute (Chapter l 60A
Article 23), created municipal service districts for erosion control and hurricane protection works for all phases
of the Town's shoreline protection plan in order to finance, provide, and maintain its beaches; and,
WHEREAS, the Town of North Topsail Beach has sought methods to fund its shoreline protection plan
and has found the sole affordable long term financing solution through 30 year United States Department of
Agriculture (USDA) financing.
THEREFORE, BE IT RESOLVED, that the Onslow County Board of Commissioners do hereby
support the action of the Town of North Topsail Beach to fund the future phases of the Town's shoreline
protection plan (Phases 2 through 5) through USDA financing.
Adopted this the 7th day of October, 2013.
Onslow County
Board of Commissioners
fkJ fu.A
OMAA=-
Paul Buchanan, Chairman
ATTEST:
36
Town of North Topsail Beach
CAMA CORE LAND USE PLAN
Prepared by Holland Consulting Partners, Inc.
BEACH NOURISHMENT PROJECTS SURVEY RESULTS
Total - All Surveys
1.
Do you believe your property will be jeopardized by beach erosion in the next ten years?
Yes 590 (69.1%)
2.
No response 8 (0.9%)
Do you believe beach erosion is something the town of North Topsail Beach should
address?
Yes 775 (90.8%)
3.
No 256 (30.0%)
No 72 (8.4%)
No response 7 (0.8%)
To finance beach nourishment, the Town of North Topsail Beach would sell bonds which
would be paid off by tax revenues. How much of your property taxes are you willing to
designate for beach nourishment?
0% 119 (13.9%)
5% 148 (17.3%)
10% 139 (16.3%)
15% 34 (4.0%)
20% 71 (8.3%)
25% 58 (6.8%)
30% 21 (2.5%)
40% 6 (0.7%)
50% 30 (3.5%)
67% 2 (0.2%)
As much as it takes 163 (19.1%)
No response 63 (7.4%)
4.
What is the dollar limit you would consider paying annually for beach nourishment?
$0 153 (17.9%)
$250 213 (24.9%)
$500 158 (18.6%)
$1,000 132 (15.5%)
$2,000 65 (7.6%)
$3,000 26 (3.0%)
$5,000 29 (3.4%)
$7,500 2 (0.2%)
$10,000 6 (0.7%)
No response 70 (8.2%)
5.
What is your real property assessed value? Range $400 - $3,150,000
6.
Do you believe all property should be taxed equally or should the rate vary depending on
whether the property is closer to the ocean?
Vary 354 (41.5%)
Equally 464 (54.3%)
7.
No response 36 (4.2%)
Do you live in a CBRA zone (Coastal Barrier Resources Act)?
Yes 284 (33.3%)
No 234 (27.4%)
Don’t Know 329 (38.5%)
No response 7 (0.8%)
8.
Do you have federally funded flood insurance?
Yes 420 (49.2%)
No 361 (42.3%)
Don’t Know 68 (8.0%)
No response 5 (0.5%)
Adopted by NTB Board37
of Aldermen on 7/2/2009
Certified by CRC on 8/27/2009
Page 207
Town of North Topsail Beach
ADDITIONAL DOCUMENTS
Town of North Topsail Beach
Shoreline Protection Project
Second Event
38
-
USDA
Rural Development
State Office
Community Programs
and Program Support
4405 Bland Road,
Suite 260
Raleigh
NC, 27609
Voice 919.873.2030
Fax 919.873.2076
United States Department of Agriculture
October 1, 2013
Town of North Topsail Beach
Stuart Turille
2008 Loggerhead Court
North Topsail NC 28460
Dear Mr. Turille:
Enclosed is Form RD 1940-1, "Request for Obligation of Funds." This serves as
notice that your application for financial assistance from Rural Development has
been approved.
We are advised that the funds you requested are reserved in the amount shown in
Item 24 at the interest rate indicated in Item 28.
If you have any questions concerning this reservation of funds, please contact the
Rural Development Area Specialist at Kinston, North Carolina.
Sincerely,
L
nd~;te
IJ
r, Community Programs/Program Support
Cc:
Rural Development Area Director
Kinston, North Carolina
USDA is an equal opportunity provider and employer.
If you wish to file a Civil Rights program complaint of discrimination, complete the USDA Program Discrimination Complaint Form, found
online at http://www.ascr.usda.gov/complaint_filing_cust.html, or at any USDA office, or call (866) 632-9992 to request the form. You may
also write a letter containing all of the information requested in the form. Send your completed complaint form or letter to us by mail at U.S.
Department of Agriculture, Director, Office of Adjudication, 1400 Independence Avenue, S.W., Washington, D.C. 20250-941 o, by fax (202)
39
690-7 442 or email at program.intake@usda.gov.
TOWN OF NORTH TOPSAIL BEACH
Sep.30. 2013 1:35PM
No. 294 7
USDA
FORM APPROVED
OMB No. 0670·0082
REQUEST FOR OBLIGATfON OF FUNDS
Form RD 194°"1
(Rev. oa-10)
P. 2
INSIRUCTIONS-TYPl'i IN CAPllALIZED liLl'J'l'i TYPE IN SPAC~S MARKED (
Complete Items 1 through 29 and appllcable Items 30 through 34. See FMI.
ST
FISCAL YEAR
lOAN NUMBER
1. CASE NUMBER
CO SORROWER ID
30-067-*****2676
NlJMB~R NAMi:;
2. 130RMWER NAME
J.
Town of North Topsail Beach
(I, 2, or Jff'Qm TIM• 2)
4. STATE NAME
flf;LPS
North Carolina
Ii. COUNTY NAME
Onslow
G. RACl:/i:;THNrG
CLASSIFICATION ·
14. oml!CT F'AYMEN'J'
15. 'J'YPE Q}t PAYMEN'J'
(S96FMQ
2
2
fvMoNiHLY
2-ANNIJAU.Y ~-Ql/AATERLY
18. SE OJ= FUNbS CObE:
17. GOMMlJNITY S):t;t;
f-1~00001!1.E&S (FOR m!!.NO
2°CJVERfO.<m
16. FEE INSPECTION
3,SEMMNN\11.LLY
(SeeFMI)
HPGOl'l.Y)
COMPLETE F'OR OBLIGATION OF FUNDS
20. PURPOSE CODE
21. SOURCE OF FUNDS
19. TYPE O)=
22. lYPE OF ACTION
ASSISTANCE
1-0&.~l'ION O~Y
(~•Ff.IQ
075
1
23. TYPE Or SUBMISSION
1
'Z • Oilll<MY!Owc11E!ci< AEo\l!::>C
3-00RREOTIONOFOBU<MTION
25. AMOUN'I' OP GRAN'!'
24. AMOUNT OP LOAN
1 ·INlYW.
1
2.sl.JBSEQUENT
16,615,000.
26. AMOUNT OF
IMMEDIATE ADVANCE
28. INTEREST RATE
27. DATE OP
APPROVAL
MO DAY
29. REPAYMENT TERMS
YR
3.5
%
30'
COMPLETE FOR COMMUNITY PROGRAM AND CERTAIN MULTIPLE-MMILY HOUSING LOANS
30. PROFIT TYPE
2 °1.!MrTED MOl'lT
1 v F\Jl.L PROFIT 3 • NOM'ROflT
GOMPl'..f;TE f'OR EM (..OANS ONI-Y
31. blSAS'l'l!R. Ol!SIGNA'l'ION NUMB~R
2vASSUMPTIONONLY
(!;..,fJJI)
1.cileorr aALE 001.'( a ~EOIT SA!E Wlnl BUMEOUEtn' LOAN
FlNAfllCE OJ=FICE USE OWLY
DA
SUB.seOUENT LONI
COMPLETE FOR FP LOANS ONLY
34. BEGINNING FARMER/RANCHER
33. OBLIGATION DATE
MO
4 ""88UIAPJION Wlnl
YR
(SS6FMQ
/fl/., d.clrton <Oflla/11.dakm In this founldiulls In dmta/, mlucllM or runcellat/O/f aJIJSbA aillilan«,)""' lrl<lydpf>MI iNs de</JIOJt twf " ' " ' n huvl»g OI' J»Umay >t'f"'-11 a ;t\i/r.• U. U111t)fn
f'l•as• UI• lh4 fNm ...,, haw lnclvdrdfar lhlrprupJ1'.
"'""AK-
PoelUon 2.
ORIGINAL - Bo~rnwer'e G11file Foloer
COPY 1 • Flnanca Office
COPY 2 -Appllcan!ILAlttlGr
COPY 3 - S!ata Office
A«rYdtnS la rli• i'aP'llJ'O(l: RN!Kllan Acl af199$. an agt11<l)'Mayw1 C'<Wluct"' IP®""" IJJti 1tptn1J11II1W rtqllfll<f 10 wP"f"l la a ~lmlpn¢JU.ffeln(>/1¢n ""ft!/ It iiil)>/(l}1 ¢"'/lei OMB ¢<W'C/ ~r. TM "'lie/
OMfJ cantrol nlillll><rfor liltr /Jlfar11111tfon e<>U<etl1>1t II (Jj71J.aJ&:i. 11"! llm• rtqutrd ra
U.11 Infam111lt»1 toflwt0n Ir wlwil<il, I~ tNfY•t:< IS mlnu161 j>Jr rtsf'O'r>lt. Wil'lclV.f! rli1 riirrlfor rll.fl'<Ylf:' IN•r~f1"t,
"""'f'I"'
uarcMng .xt11tng Jata JWI«I, g<ithzrtng Q>'.l/ malnlatntng rhtdato IJNdN, MJ OOhlplttlAg twir•vt•wir.gih1 <>;>llttir~ ofl>rj/;>r1'1(1fi!>'I.
40
Sep. 30. 2013 1:36PM
TQWN OF NORTH TOPSAIL BEACH
No.2947
P. 3
C:ERTIFICATlON APPROVAL
For All Farmers Programs
EM, OL, FO, and SW Loans
This loan is approved subject to'the availiibili!y of funds. rfthis loan does not close for any reason within 90 days from !he
diite of approval on this document, the approval official will request updated eligibility information. The undersigned loan
applicant agrees ~hat the approval official will have 14 working days to review any updated information prior to submitting
this document for obligation of funds. If there have been significant changes that may affect eligibility, a decision as to
eligibility and feasibility wil( be made within 30 days from the time the applicant provides the necessary information.
!f tbis is 11 loan approval ,for which a lien and/or title search is necessary, the undersigned !lpplicant agrees that the ·
15-working-day loan closing requirement inay be exceeded for 'the purposes of tho applicant's legal representative
completing title work and completing loan closing.
35.
COMMENTS AND REQUIREMENTS OF CERTIFYING OFFICIAL
Loan approval subject to meeting requirements of the' Letter of Conditions,
.p~ocessing checklist, and loan closing in6tructions from the Office of General
c·ounael.
36.
I HBREBY CBR'J'JFY that I am unable to obtain sufficient credit elsewhere to finance my actual needs at reasonable rates
and terms, takin~ into consideration prevailing private and cooperative rates and terms in or near my community for loans
for similar purposes and periods of time. I agree tO use the sum specified herein, subject to and in accorda~ce with
reguliltions applicable to the type ofassiStancc indicated above, and request payment of such sum. l agree to report to
USDA any material ndverse changes, financial or otherwise, that occur prior to Joan closing. I certify that no part of the sum
specified herein has been received. I have reviewed the loan approval requirements imd comments associated with this loan
request and agree to comply with these provisions.
(For FP loans at eligible tenns only) Ifthis loan is approved, I elect the interest rate to be oh11rged on my Joan to bo tho lower ofthe
interest rafo in effect at the ti1rie ofloan approval or Joan closing. Ifl cheok ''NO", the interest rate charged on my
loan will be the rate specified in ltem 28 of this fonn.
X
YES
NO
WARNING:
Whoever, In any matter wltfiin tho jur1sdictlon of any department or agency of the United States
knowingly and Wiiifuiiy falslrles, conceals or covers up by any trick, schomo, or device a material
fact, or makes ·any false, fictitious or fraudulent statements or representations, or makes or uses
any false writing or document knowing the same to contain any false, fictitious or fraudulent
statement or enhy, shall ho fined under this title or Imprisoned not more than five years, or both."
Attest: ·
Carin
rown of North Topsail Beach
z.
Fa
To-wn Clerk
(Signature ofApp/iMnt)
Date_s_e~p~t_·e_m_b_e_r_3_0_ _ _ , 20 ~
(Sign(lt11re af Co-Applfcanlj
37.
I HEREBY CEkTrFY that all of the commiltee and administrative determinations and certifications required by reglllations
prerequisite to providing assistance of the type indicated above have been made and that evidence thereof is in the docket, and
that 1111 requirements of pertinent regulations have been complied with. I hereby approve the above-described assistance in the
amount set forth above, and by this document, subject to the availability funds, the Govermnent agrees t advimce such
amount to the app!rcanfloi'ffio purpose of ana su1:5Ject to the availabi prescn
y regulmio applic c to this type of
assistance.
_?
.'
Date Approved;
38.
/
Nam~ LJ_~ /(
4
Title;
JJ£tec-/o-r-·
Typed o• Pdnlcd
~Jo.dl
(Signature ofApprov/rig Ojfloial)
9(?o/J
~/@.fe
6'Oz-..g_
TO THE APPLICANT: As of this date
·
2
, this is notice that your application for financial assistance
from the USDA has been approved, as indicated alJoie, subject to the availability of funds and other conditions required by
the USDA. Ifyou have any questions contact the appropriate USDA Servicing Office.
41
42
Daniel Tuman, Mayor
Suzanne Gray, Mayor Pro Tern
Aldermen:
Don Harte
Tom Leonard
Richard Macartney
Michael Yawn
Stuart Turille
Town Manager
Carin Z. Faulkner, MPA
Town Clerk
RESOLUTION NO. 2013-22
RESOLUTION OF THE TOWN OF NORTH TOPSAIL BEACH, NORTH CAROLINA
DIRECTING THE APPLICATION TO THE LOCAL GOVERNMENT COMMISSION
FOR APPROVAL OF SPECIAL OBLIGATION BONDS;
REQUESTING LOCAL GOVERNMENT COMMISSION APPROVAL OF
THE TOWN'S SPECIAL 0BLIGA TION BONDS,
SERIES 2013 AND CERTAIN RELATED MATTERS
WHEREAS, the Board of Aldermen (the "Board") of the Town of North Topsail Beach, North
Carolina (the "Town") hereby determines that it is necessary to make ce1tain beach renourishment and
hurricane protection improvements (the "Project" ) and has established a municipal service district
therefor; and
WHEREAS, the Board is considering the issuance of an estimated $16,815 ,000 Special Obligation
Bonds, Series 2013 (the "2013 Bonds ") to (1) fund the Project and (2) pay the costs of issuing the 2013
Bonds; and
WHEREAS, the Board has retained Parker Poe Adams & Bernstein LLP of Raleigh, North
Carolina, as bond counsel and DEC Associates Inc., Charlotte, No1th Carolina, as financial advisor for the
2013 Bonds; and
WHEREAS, the Board desires that the Town Manager file with the Local Government
Commission of North Carolina (the "Commission") an application for its approval of the 2013 Bonds, on
a form prescribed by the Commission, and (1) request in such application that the Commission approve
(A) the negotiation of the sale of the 2013 Bonds to a financial institution (the "Purchaser") to be
determined by the Authorized Officers, as defined herein, through a private placement and (B) the
Town ' s use of Parker Poe Adams & Bernstein LLP, as bond counsel for the Town and (2) state in such
application such facts and to attach thereto such exhibits in regard to the 2013 Bonds and to the Town and
its financial condition as may be required by the Commission, and to take all other action necessary to the
issuance of the 2013 Bonds; and
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TOWN OF ALDERMEN OF THE
TOWN OF NORTH TOPSAIL BEA CH, NORTH CAROLINA, AS FOLLOWS:
Section 1.
That the 2013 Bonds are to be issued by the Town for the purpose of providing
funds to (1) fund the Project and (2) pay the costs of issuing the 2013 Bonds, all as set out fully in the
document attached to the Town ' s application to the Commission. The use of the proceeds of the 2013
Bonds, as described, is necessary to provide beach renourishment and protect property in the municipal
service district.
Section 2.
That the Town Manager and the Mayor (the "Authorized Officers") are hereby
authorized, directed and designated to file an application with the Commission for its approval of the
issuance of the 2013 Bonds and are hereby authorized to request bids from financial institutions for the
purchase of the 2013 Bonds.
2008 Loggerhead Court
North Topsail Beach, NC 28460
43ntbnc.org
Phone (910) 328-1349
Toll Free: (800) 687-7092
Fax (910) 328-4508
Page 2of2
Town of North Topsail Beach
Resolution 2013-22
Section 3.
That the Board finds and determines, and asks the Commission to find and
determine, from the Authority's application and supp01ting documentation the following:
(a)
that the issuance of the 2013 Bonds is necessary or expedient;
(b)
that the amount of 2013 Bonds proposed is adequate and not excessive for the
Project;
(c)
that the increase in taxes, if any, necessary to service the 2013 Bonds will not be
excessive (no increase is currently foreseen);
(d)
that the Town's debt management procedures and policies are good; and
( e)
that the 2013 Bonds can be marketed at reasonable rates of interest.
Section 4.
That the Town, the Town Manager, the Mayor and the Town Clerk are hereby
authorized to do any and all other things necessary to complete the steps necessaty for the issuance of the
20 I 3 Bonds. Any action previously taken with respect to the 2013 Bonds is hereby approved, ratified and
approved.
Section 5.
That the Board requests that the Commission sell the 2013 Bonds through a
private placement to the Purchaser on such terms as may be agreed on but at a true interest cost not to
exceed 5%.
Section 6.
That this Resolution is effective on the date of its adoption.
STATE OF NORTH CAROLINA
COUNTY OF ONSLOW
)
)
)
SS:
I, Carin Faulkner, duly appointed the Town Clerk of the Town of North Topsail Beach, No1th
Carolina, DO HEREBY CERTIFY that the foregoing is a full, true and correct copy of the Bond Order
entitled, "RESOLUTION OF THE TOWN OF NORTH TOPSAIL BEACH, NORTH CAROLINA DIRECTING
THE APPLICATION TO THE LOCAL GOVERNMENT COMMISSION FOR APPROVAL OF SPECIAL
0BLIGA TION BONDS; REQUESTING LOCAL GOVERNMENT COMMISSION APPROVAL OF THE TOWN'S
SPECIAL OBLIGATION BONDS, SERIES 2013 AND CERTAIN RELATED MATTERS" adopted by the Town
of North Topsail Beach, No1th Carolina at its regular meeting of the 3rd day of October, 2013.
WITNESS, my hand and the corporate seal of the Town of No1th Topsail Beach, North Carolina
this 3rd day of October, 2013.
TOWN OF NORTH TOPSAIL BEACH, NORTH CAROLINA
[SEAL]
44