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Marina repairs, bulkhead and storm costs put pressure on cash; staff plans targeted line‑of‑credit and grant draws
Summary
City staff used the budget workshop to summarize storm damage, FEMA/state reimbursement estimates and near‑term cash‑flow needs for the marina and related public infrastructure projects.
City staff used the budget workshop to summarize storm damage, FEMA/state reimbursement estimates and near‑term cash‑flow needs for the marina and related public infrastructure projects.
Nut graf: Staff estimated total storm‑related costs across funds and showed how FEMA (expected 75 percent) and state matching (12.5 percent) reimbursements affect timing and cash needs. Because reimbursements are received on a project‑by‑project basis after FEMA obligation, staff proposed a temporary line of credit as a cash bridge and asked the commission to authorize short‑term borrowing authority if needed.
What staff described - Total damage estimate and…
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