Fed, state money to cover most of flood tab
Posted: Wednesday, July 7, 2010 9:05 pm
NASHVILLE (AP) — Local taxpayers in Nashville will largely be off the hook for the costs of repairing public facilities damaged by severe flooding in May.
The Tennessean quoted Metro Nashville Finance Director Rich Riebeling, who said the estimated cost of fixing public works after the flood is about $250 million. Riebling said all but about $5 million will be reimbursed by the federal and state government and a $100 million city insurance policy.
“I don’t think the ultimate impact will be much,” Riebeling said. “It’s not an insignificant amount, but if we do everything right, it won’t be an extensive impact to us.”
Between federal and state funding, the city usually is reimbursed for 87.5 percent of disaster-related costs.
Riebeling’s department lists 75 projects that will repair an estimated $32.3 million in flood damage.
Just four buildings account for more than half of those costs — LP Field, Bridgestone Arena, the Juvenile Justice Center and the Douglas Head Start center.
Published in The Messenger 7.7.10