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Gila County staff outline $38M in flood repairs and propose up to $18M borrowing to meet $14.2M cash shortfall
Summary
County staff presented a package of NRCS and FEMA projects that they say total about $38 million, with roughly $14.2 million in immediate local cash needs; a bond advisor proposed an illustrative $18 million financing to bridge cash flow while the county seeks federal and state reimbursements.
Gila County supervisors on Jan. 20 spent a work session reviewing a package of flood‑recovery projects staff say totals about $38 million and discussing options to bridge roughly $14.2 million in near‑term county cash needs.
Homero Vela, staff lead on flood recovery, told the board the projects include about $7.9 million of proposed NRCS (Natural Resources Conservation Service) restoration work and about $5.3 million of FEMA/DEMA emergency projects, and that the county faces an immediate cash‑flow requirement to meet near‑term deadlines. "Total project cost, a little over $38,000,000," Vela said during the presentation. He said NRCS would cover about 75% of eligible project costs while the county must front a local match and pay invoices that are later reimbursed.
Why it matters: the county must…
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