One Year Later - Hurricane Sandy Destruction

It has now been about one year since Hurricane Sandy hit the East Coast, yet restoration in some beachfront cities is still underway. This article published by News 13 discusses a $40 million restoration project that will begin at the start of November. Although the hurricane stayed off of Florida's coast, the wind and severe weather pushed back on the beaches and caused significant erosion, leaving the waterfront properties very vulnerable and exposed should another round of severe storms come.

The project is being funded partially by the state and the Brevard County Tourism Development Commission, but the Army Corps of Engineers is footing the majority of the cost with $29.6 million. This project is an example of a public good as we discussed at the beginning of the semester because it is both non-excludable and non-rivalrous. Also, this specific project undoubtedly brings up the Free Rider Problem. The individuals who are living on the beachfront will receive the direct benefits of the restored beaches but have not paid at all or if so, only minimally through some sort of state taxation. However, the Tourism Commission and the state believes that the benefits of investing in this restoration project exceed the costs and therefore are going ahead with the project and will begin pumping sand onto the beaches next month.