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 City of Solana Beach
Section 2
Shoreline and Coastal Bluff Management Strategies Draft MEIR
Project Description
Cost to Relocate Residents
Using an estimated cost of $100,000 to relocate families living in single-family homes and
$50,000 to relocate families living in condominiums, the total cost would be $8.5 million (in year
2002 dollars).
Relocation costs could include the following:
rent for similar quality housing during the transition time between homes;
moving and storage costs;
increase in value of homes during the transition period;
the capitalized value of additional property taxes and homeowner fees;
fees and closing costs for a new mortgage;
loan termination fees on existing mortgages;
income tax impact from capital gains; and
other costs.
Some relocation costs may be avoided if condemnation is not required.
Cost to Relocate Utilities
Existing utilities that would need to be relocated include the stairways at Tide Park, Fletcher
Cove, Seascape Surf and Del Mar. Shoreline protection devices such as seawalls, riprap,
seacave fills/plugs, and gunite covering would need to be destroyed. Table 2-6 presents the
estimated cost of relocating and demolishing these structures to be $4 million (in constant, year
2002 dollars).
Total Cost
As Table 2-7 shows, the estimated total cost to acquire the 119 homes in the 50- and 100-year
retreat zones and relocate their occupants is approximately $142.5 million without appreciation,
and $363.8 million with real appreciation, (in year 2002 dollars).
The actual current year dollar amounts will be higher, depending on inflation. Also, prices could
be higher if properties are acquired through condemnation. Finally, prices based on estimated
appreciation could be higher or lower, depending on the actual appreciation rate.
The actual current year dollar amounts will be higher, depending on inflation. Also, prices could
be higher if properties are acquired through condemnation. Finally, prices based on estimated
appreciation could be higher or lower, depending on the actual appreciation rate.
Project No. 323530000
Page 2-43
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