Long Beach Boardwalk Opens

Just wanted to open discussion on the first 2 blocks of Boardwalk being opened.  While I applaud the opening, and I do think our boardwalk is going to be "better than ever" I still don't feel the costs are justified, and my number below should represent that.

Here is a recent article from Newsday.

http://www.newsday.com/long-island/nassau/long-beach-reopens-section-of-boardwalk-1.5685824#disqus_t...

Some things I would like to discuss:

Some residents have balked at the boardwalk's price tag, which is higher than the original estimate of $25 million. But City Council President Scott Mandel has said the boardwalk will ultimately save money because it will "require significantly less maintenance" than the old one.

This is such a loaded response, because its simply a way of skirting around the cost issue.  Here are some of my estimates so please don't attack my numbers I am doing my best to estimate:

UPDATE:  I was able to find the breakdown of BOARDWALK MAINTENANCE and the amount is actually quite less than expected.  In 2011 it was budgeted for just 50k, and 2012 was budgeted for 100k.  For some reason they requested 225k for 2013.  (Source: http://www.longbeachny.gov/vertical/sites/%7BC3C1054A-3D3A-41B3-8896-814D00B86D2A%7D/uploads/Propose...)

Option 1:
Boardwalk Replacement: 44.2 million
FEMA Reimbursement: 15 million
Cost to taxpayers: 29.2 million paid via BAA3 Bond (6%)
Interest Paid: $33,824,750
Yearly Maintenance: $25,000 (Estimated)
Total Cost for Boardwalk: $78.8 million over 30 years

Option 2:
Boardwalk Replacement: 16 million (Still double Seaside Heights Cost)
FEMA Reimbursement: 15 million
Cost to taxpayers: 1 million paid via BAA3 Bond (6%)
Interest Paid: $1,100,465
Actual Yearly Maintenance: $50,000
Total Cost for Boardwalk: $18.5 million over 30 years



All we can do at this point is hope that FEMA and NYS pay a larger chunk of the cost, but I am not the only one who thinks otherwise.