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AGENDA ITEM 6B <br />STAFF ORIGINATOR David Pecchia <br />DATE December 16, 1998 <br />TOPIC Consideration of 1998 Storm Damage Costs/Funding <br />The damage costs incurred for the storms on May 15th and June 26th will total $423,604. <br />The administrative costs allowed by FEMA total $9,472, for a grand total of $433,076. <br />The federal disaster grant funding will reimburse the city $327,175. <br />State matching funds will reimburse the city $63,540 later in 1999, after the Legislature <br />appropriates the funding. <br />The remaining costs of $42,361 are left for the city cover from local resources. <br />The storm costs are paid by the city from reserve balances as the costs are incurred. Requests <br />for reimbursement are then filed with the state and federal agencies to recover their pro -rata share <br />based on the disaster aid grants. <br />Through November 30th, the city has paid for storm costs of $237,037 and been reimbursed <br />$183,025 by FEMA. <br />1. Accept <br />2. Reject <br />Option 1 <br />