Coalition: Briny Breezes Plan Would Create Low-Paying Jobs, Increase Population Density and Hit Taxpayers with Billions of Additional Hurricane Risk.

DELRAY BEACH, Fla. -- Florida Coalition for Preservation today noted that a fiscal analysis of the proposed Briny Breezes redevelopment shows the project would create low-paying jobs while increasing population density on a storm-prone barrier island and shouldering taxpayers with billions of dollars in additional hurricane insurance risk.

"I think the cost is incalculable," said Florida Coalition for Preservation Chairman Tom Evans. "Every major independent and objective reviewer of the proposed Briny Breezes redevelopment plan has expressed concerns about glaring problems created by the irresponsible and inappropriate development plan. They uniformly raise serious questions about how this irresponsible development project virtually destroys the surrounding community and dangerously stresses the area infrastructure including transportation, sewer and our critical water supply in South Florida."

Evans added, "The only groups embracing the developer's plan are those directly linked to the developer." The Florida Coalition for Preservation said that, while the developer's report claims the redevelopment would "provide a substantial economic benefit to the community," when a reader looks behind the numbers the truth comes out.

Inside the Numbers: Briny Breezes Development Would Create Low-Paying Jobs:

* Page three of the report says, at the projected 2019 build out date, the project would create 1,312 jobs, generating average annual employee earnings of $35 million.

* Divide $35 million by 1,312 jobs equals jobs with an average annual salary of $26,677 - in 2019 dollars.

* Using U.S. Department of Health and Human Services data, these jobs could even fall below the federal poverty level for a family of four in 2019 - after making a three-percent yearly adjustment for inflation and cost of living.

The Florida Coalition for Preservation also pointed out that the developer's report views the economic impact through the view of the current property tax system and fails to take into account the potential impact the recent property tax reform measures would have on projected property tax revenues from the Briny Breezes redevelopment.

With published reports today showing that, by the end of the year, more than half of the estimated $1-trillion total value of all insured homes in Florida could be insured by Citizens Property Insurance, the developer's Briny Breezes report is silent on the negative economic impact that putting more than $4 billion in additional hurricane insurance exposure in the middle of "hurricane alley" on a storm-prone fragile barrier island would have on the state's property insurance market when a major hurricane strikes.

"It's clear that it's the taxpayer who will be on the hook for costly infrastructure upgrades needed to accommodate this huge increase in density, and for shouldering a massive insurance risk on this hurricane-vulnerable barrier island," Evans said. "It's nonsensical to continue to develop with taxpayer dollars on storm-prone barrier islands. When a major hurricane strikes, taxpayers will be forced to pick up the cost. Irresponsible, high-density coastal development that damages the environment and endangers our citizenry and should not be subsidized by taxpayers."

Developers want to jam tiny Briny Breezes with multiple high-rise towers housing 900 condominium units, 300 timeshare units, a 349-room luxury hotel, restaurants, retail shops, parking facilities and a yacht marina - all on an environmentally fragile, hurricane-vulnerable barrier island.

To learn more about the Florida Coalition for Preservation, please visit www.preservationfla.org.