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County presents $429M storm damage overview and proposes retention fund as FEMA rules shift
Summary
Budget staff and FEMA consultants showed aggregated storm damages near $429 million across six disasters, described delays and eligibility risks in FEMA processing, and proposed a retention fund plus insurance strategies (parametric, asset-class) to manage cash-flow and policy uncertainty.
Gordon Berger, director of budget and administrative services, and Chris Billman of CSA Consulting gave an extended briefing on the county’s fiscal recovery from multiple storms, insurance activity and possible changes in FEMA policy.
Berger presented a consolidated overview that aggregated open disaster claims across six declared events and cited a working total near $429,000,000 in gross damages; he said those totals are expected to be refined downward as FEMA and the county reconcile individual projects. ‘‘If you look at this and... the number of open disasters there, 6 open disasters, tried to group those by each category…we’re looking at $429,000,000 total,’’ Berger said.
Chris Billman explained FEMA’s program categories…
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