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during Flo to fill 1,579 Olympic size swimming pools, or almost one per acre. Its
obvious from looking at this that infiltration, retention ponds and rain barrels
aren’t going to solve the problem of disposing of so much rainfall in such a short
time. The water has to be physically moved out of town with mechanical assistance
(pipes and pumps).
The towns Public Services Department prepared for the storm by securing
additional pumping resources and lowering the water levels in the golf course
ponds in advance of the arrival of Flo. In addition, Sonny Cunningham and his
crew estimate that they pumped about 2,000,000 gallons from Carob Court and
Loblolly Drive, about the same amount from Acorn and Walnut courts, about
3,000,000 gallons from Cedar and Holly roads, 15,000,000 gallons from Yaupon
and Willow roads, and 20,000,000 gallons from Oakleaf Drive—or a total of
42,000,000 gallons. Sonny estimates that an additional 20,000,000 gallons flowed
through the golf course outflow system as a result of natural gravity feed, bringing
the grand total to about 62,000,000. While this is a lot of water, it is only about 6%
of the total rainfall Pine KnoU Shores received. To say we were overwhelmed by Flo,
estimated to be a 500-year storm event, is an understatement of epic proportions.
Storm water management. Before the town was built, when the island was in
its natural state, storm water would flow through what is now the central part of
town (the area east of Pine Knoll Boulevard) from west to east through a series of
ponds and intra-dune troughs to an outfall in Bogue Sound at what is now Hoop
Pole Creek in Atlantic Beach. Digging the canal, filling wetlands with the spoUs to
create buildable lots, building highways and streets, golf courses and mobile home
parks, and installing bulkheads changed the topography of the land and severely
disrupted this natural flow of excess water to the sound, creating the storm water
ponding and occasional flooding we know too well. Many people affected by Flo’s
rainfall spoke about this issue during the public comment period during the Board
of Commissioners meeting on October 10.
The town has spent considerable resources studying this issue in the past, but
the periodic nature of the problem, coupled with the high cost of storm water
management in an environmentally sensitive environment, delayed progress. In
the last few years, however, thanks to the leadership of Commissioner Edwards and
others, the town has developed a long-term vision for storm water control, and it
has begun to take concrete actions involving the construction of new infrastructure
to channel storm water out of town. The initial phase of the plan delivers water
from an underground vault (or cistern) the town installed on Myrtle Court to
collect storm water from the east end of town, to the network of ponds on the golf
course where it moves, utilizing what is left of the natural flow of water from west
to east, to an outflow pipe the town installed on Oakleaf Drive that goes under the
golf course to Bogue Sound.
' This system has been in use for several years now with considerable success. It
allows the town the opportunity to draw down the water level in the golf course
ponds in advance of a storm, which also helps to alleviate some of the usual street
flooding. The system, as it is right now, requires the use of pumps and hoses on the
“tree streets’’ (Juniper, Yaupon, Willow, Holly) to move the water to the vault on
Myrtle Court, where it is subsequently pumped to the golf course ponds, where it
flows to the outfall on Oakleaf. Plans are underway to install a second line from
Reefstone to the golf course ponds, and to install a network of underground drains
and pipes, utilizing as much natural gravity-flow as possible, to regularly move
the water from the east end of town to the vault underneath the streets with a
minimum of mechanical pumping. Construction could begin sometime in this
fiscal year, but a lot depends on the timing of the town’s grant applications.
Periodic, but less frequent, flooding in other areas of town (Arborvitae Court;
Acorn and Walnut courts; Pinewood, Bay, and Knollwood circles; Carob Court;
and Loblolly Drive) will require a different approach and considerable involvement
with state agencies to receive the permits that are likely to be required to build the
infrastructure necessary to move the water directly to the canal, sound, or ocean. It
may be unrealistic to think we can build storm water management systems that can
The Shoreline I November 2018
handle all events, including those the size of Hurricane Florence, but we can design
and build a system to handle the more frequent 5- or 6-inch rain events. Costs and
benefits will have to be determined and weighed against each other to determine an
optimal size for these systems. While we don’t have specific plans or timetables for
action in these other parts of town just yet, storm water management is, and will be,
a top priority for the mayor. Board of Commissioners, and town staff in the coming
months and years.
Beware of Stock Fraud
(Continued from page 3)
promoters to make glorified claims about new products, lucrative contracts or
the company’s revenue, profits or future stock price. Use FINRA BrokerCheck
to check registration status and additional information on investment
professionals and firms.
• Find out who sent the message. Many companies and individuals that
tout stock are corporate insiders or are paid to promote the stock. Look for
statements (usually found in the fine print) that indicate cash payments or the
receipt of stock for disseminating a report on the company.
• Find out where the stock trades. Most unsolicited stock recommendations
involve stocks that can’t meet the listing requirements of the Nasdaq Stock
Market, the New York Stock Exchange or other US. stock exchanges. Instead,
these stocks tend to be quoted on an over-the-counter (OTC) quotation
platform like the OTC Bulletin Board (OTCBB) or the OTC Link Alternative
Trading System (ATS) operated hy OTC Markets Group, Inc.
Companies that list their stocks on registered exchanges must meet minimum
listing standards. For example, they must have minimum amounts of net assets
and minimum numbers of shareholders. In contrast, companies quoted on the
OTCBB or OTC Link generally do not have to meet any minimum listing standards
(although companies quoted on the OTCBB, OTC Link’s OTCQX and OTCQB
marketplaces are subject to some initial and ongoing requirements).
• Read a company’s SEC filings. Most public companies file reports with the
SEC. Check the SEC’s EDGAR database to find out whether the company files
with the SEC. Read the reports and verify any information you have heard
about the company. But remember, the fact that a company has registered its
securities or has filed reports with the SEC doesn’t mean that the company
will be a good investment.
If you’re suspicious about an offer or if you think the claims might be exaggerated
or misleading, please contact us. We are here to help!
• FINRA Investor Alert: Stock Spams and Scams
• IRS Newswire: IRS Warns of Scams Related to Natural Disasters
• IRS: Florence Relief Page
• SEC Press Release: SEC Provides Regulatory Relief and Assistance for
This material has been provided for general informational purposes only by
Greg Patterson of Atlantic Wealth Management located at 712 Bridges Street,
Morehead City, NC 28557. Mr. Patterson can be reached at 515-7800 orgreg@
myatlanticwealth.com. He offers securities and advisory services as an Investment
Adviser Representative of Commonwealth Financial Network, Member FINRA/SIPC,
a Registered Investment Adviser. This material is general in nature and does not
address your specific situation. For your specific investment needs, please discuss your
individual circumstances with your representative. Commonwealth does not provide
tax or legal advice, and nothing in the accompanying information should be construed
as specific tax or legal advice. Copyright 2018.