2021-01-18 GC - Item 3 - Attachment 2 - Phase 7 Project Summary Coastal Hazards Adaptation Plan

 Noosa Shire Council Coastal Hazard Adaptation Plan: Project Summary                                       31
 Findings




                    Figure 3-1   Open Beaches Net Present Value (Source: Aither Economics, 2020)

3.6.2    Noosaville
         The results of the Noosaville CBA have identified that Option 1 (levees and stormwater infrastructure
         modifications) provides the greatest net benefit to the community in terms of protection from sea level
         rise, as shown in Table 3-3. This is driven by avoided loss of tourism revenue and recreational area
         and reduced infrastructure damage. It assumes that stormwater infrastructure modifications are
         required from 2040, whilst the levees are not constructed until 2070.

              Table 3-3        2100 Present Value Results, Noosaville (Source: Aither Economics, 2020)

                                             Option 1 – Levee and      Option 2 – road        Confidence
                                             stormwater modification   raising
            Net Present Value                $21.5m                    -$3.9m
            Benefit Cost Ratio               2.11                      0.80

            Costs                            $19.4m                    $19.2m
            Levee costs                      $8.9m                                            Medium
            Stormwater modification costs    $10.5m                                           Medium
            Road raising costs                                         $19.2m                 Medium

            Benefits                         $40.9m                    $15.3m
            Recreational benefits            $6.5m                     $0.1m                  Low
            Avoided property damage          $0.1m                     $0.1m                  Low
            Avoided road damage              $1.1m                     $0.6m                  Medium
            Tourism benefits                 $27.1m                    $10.8m                 Low
            Avoided damage to stormwater     $3.0m                     $0.6m                  Medium
            network
            Residential nuisance benefits    $3.1m                     $3.1m                  Low