Due to the State of Emergency declared on August 12, 2016 by Governor John Bel Edwards in response to the historic flooding in parts of Louisiana, and the inability of many insurance policy holders to repair their property within normal time frames because of a shortage of building materials, contractors, and construction workers, the Commissioner
HUD to Allocate $13M in Sanction Funds to South Louisiana
As announced today by Congressman Garret Graves, the United States Department of Housing and Urban Development (HUD) will allocate $13 million of “sanction funds” to aid recovery in Baton Rouge and Lafayette.
Sanction funds are previously unused fund recuperated from grantees and may be used for infrastructure needs, small business and economic development needs,…
Emergency Rule 28 from the Louisiana Commissioner of Insurance
Due to the State of Emergency declared on August 12, 2016 by Governor John Bel Edwards in response to the historic flooding in parts of Louisiana, and the inability of many insurance policy holders to repair their property within normal time frames because of a shortage of building materials, contractors, and construction workers, the Commissioner…
LED Estimates Louisiana Businesses Suffered $2 Billion in Flood Damages
On Friday, September 9, 2016, Louisiana Economic Development (LED) issued a flood damages assessment estimating that the historic August 2016 flood caused Louisiana businesses $2 billion in damages.
At peak, LED estimates that 278,500 Louisiana residents were unable to work due to temporary closures, suspension of operations, transportation impasses, and residential flooding.
LED commissioned the…
New Letter Announces Increased Federal Aid for Public Projects
The federal government has been authorized to cover a larger percentage of the costs for repairing damage to public infrastructure caused by the recent flooding in South Louisiana.
According to a letter dated September 8, 2016, from President Obama to Louisiana Governor John Bel Edwards, the federal cost share for public assistance projects has been…
FEMA and City of New Orleans to Host Flood Insurance Workshop September 15
The Federal Emergency Management Agency (FEMA) and the City of New Orleans will host a September 15 workshop providing information on FEMA’s new Flood Insurance Rate Maps (FIRMs) that become effective on September 30, 2016.
Many New Orleans residents and businesses are expected to see decreases in their flood insurance costs due to improvements in…
LSU Agricultural Center Compiles Interactive Louisiana Flood Zone Map
The LSU Agricultural Center has compiled an interactive map showing Louisiana Flood Zones.
The interactive tool allows users to view estimated flood risk and estimate 100-year flood depth in a building, among other features. Notably, for any point on the map, you can see whether an area has been identified as a special flood…
Initial Considerations for Financial Service Providers in the Aftermath of the Louisiana Flood Disaster
The Louisiana flood disaster unfortunately brings to the fore a unique set of issues for banks and financial institutions, both those located in south Louisiana and those who have customers impacted by the flooding. Many financial institutions have branches, offices, and operation centers that sustained flood damage. Many more have customers whose homes were flooded…
HousingWire Predicts Long-Term Shift in Available Louisiana Real Estate
A recent article from HousingWire examines the impact of the 2016 Louisiana floods on the housing market of the city of Baton Rouge and surrounding areas.
The article notes that prior to the flooding, the supply of available housing in Louisiana’s capital city was already low.
Now, after thousands have been displaced from their homes…
News and Resources Update
Greater Baton Rouge Business Report has published four articles relevant to businesses after the Louisiana floods:
- Preserving Your Brand After a Disaster is Critical
- Landlords Have Obligations After the Flood
- IRS Offers Resources for Reconstructing Lost Financial Records, Documenting Claims
- The Latest Resources for Businesses
New resources available for Louisiana parishes affected by the flood:…