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Beach-preservation budget worksheets show allocations between Wild Dunes and city
Summary
Staff reviewed a project worksheet that breaks out professional fees and shows how beach-preservation costs will be apportioned between Wild Dunes Community Association and the city; council discussed sampling, testing and escrow arrangements.
Finance staff presented a worksheet showing beach-preservation expenditures and how the $333,000 of professional fees will be divided between the city and the Wild Dunes Community Association and Isle of Palms. Deborah explained the worksheet steers the allocation based on contractual percentages and that construction invoices have not yet been posted.
Council asked whether recent sampling and sand-testing costs were already included and how escrow adjustments would be handled if consultant or consultant-derived work triggers additional shared expenses. Staff said the sampling and testing would be routed through Wild Dunes Community Association for confirmation of shared expense status and any overages would require recalculation of escrow obligations.
