Title
Presentation and discussion regarding a request for partnership funding for the Bay Area Coastal Protection Alliance financial study related to a regional coastal barrier system (City Manager)
Background:
BACPA is a nonprofit corporation that researches alternatives for storm surge protection in the Gulf Coast region, provides information and resources to educate the public about the economic, security, and public safety benefits of such alternatives, and carries out other charitable, scientific, literary and educational activities.
A coastal barrier would stop the ocean surge at the coast where it is about 17 ft. If left unchecked, a storm surge could fill up Galveston Bay with a massive amount of water and the wind and water behind it would push the surge up to 24 ft. or higher causing significant damage to property, sensitive ecosystems, and the loss of human life.
A coastal barrier system could be developed using manmade sand dunes (revetments covered with sand and natural grasses) along the length of the coast connecting to the existing Galveston Seawall. Bolivar Roads and San Luis Pass could be protected by large moveable flood gates that would be closed in the hours before landfall of the storm but would not impact shipping or the ecology of the bay when open.
BACPA has been working on the concept of a coastal barrier system for some time. Originally called the "Ike Dike,” an informal name derived from Hurricane Ike, which made landfall in Galveston, Texas, on September 13, 2008, the system is now referred to as a coastal barrier concept. This reflects the fact that it's a more inclusive system, which protects a larger region.
BACPA has sent a proposal to all cities in the region to share in the $100,000 cost to commission a financial study of the coastal barrier concept. The study will demonstrate to bond investors that by lowering flood risk along the coast, flood insurance premium savings could generate and pay debt service for resiliency bonds.
The focus of this Project is to design and develop a set of financing options for coastal protection measures in the Houston/Galveston region, including meeting local funding match and cost-share requirements for anticipated federally supported coastal protection projects. The main elements of this work are outlined in Mayor Bechtel's letter (attached) and include:
• A preliminary quantitative analysis on the insurance and financial value of improved coastal protection for key beneficiaries, industries, and communities
• Working sessions with potential public-private partners, such as the GLO, key drainage districts, major insurance brokers, and P3 construction firms to develop a framework for implementation
• Engagement with large-scale asset holders to assess options for pooling risk and aggregating private benefits of public investments
• Identification of additional predevelopment funding opportunities (e.g., FEMA BRIC grant)
• Development of final recommendations on project financing and implementation options for increasing the level of protection across the region
BACPA has received a total of $88,500 in contributions for this study so far.
- City of Deer Park - $10K
- City of Houston - $25K
- City of LaPorte - $7.5K
- City of Morgan's Point - $5K
- City of Nassau Bay - $5K
- City of Pasadena - $5K
- City of Taylor Lake Village - $5K
- City of Seabrook - $5K
- City of Baytown - $15K
- Various individual contributions - $6K
On June 25, 2013, the City Council approved Resolution 2013-29 pledging support to the "Ike Dike" project. This action furthers that policy initiation.
Attachments:
1. Data Sheet
2. Request from Mayor Bechtel
3. Aerial View of Coastal Region
4. Data Sheet for Item 20-0532 (Old Business 10A)
5. Proposed Resolution for Item 20-0532 (Old Business 10A)
6. Exhibit A - Agreement with BACPA
7. Resolution 2013-29