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$9.4M NOAA grant highlighted; study estimates billions in lagoon ecosystem value
Summary
Presenters told the commission that a $9.4 million NOAA transformational habitat grant supports restoration across the Indian River Lagoon and that a Balmoral Group economic valuation estimates more than $10 billion annually in ecosystem-service values across the lagoon system and about $3.1 billion in property-value premiums in Indian River County.
County commissioners heard a detailed presentation on the Indian River Lagoon's restoration work funded in part by a $9.4 million NOAA grant and on a new economic valuation of lagoon ecosystem services.
Duane DeFries of the Indian River Lagoon Council described the NOAA award and local projects, saying "our project now is 9,400,000 awarded, 15 restoration sites, 10 sub awardees, and you are 1 of those sub awardees as the county." Senior economist Courtney Cortez of the Balmoral Group reviewed the economic valuation, reporting that ecosystem services across the lagoon system generate an estimated more than $10 billion annually and that proximity to the lagoon contributes about $3.1 billion in property-value premiums countywide. Staff recommended, and the board approved, two stakeholder workshops to coordinate local planning and Basin Management Action Plan work.
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