Isaac costs to La. agencies: $66M and rising

Gov. Bobby Jindal says Hurricane Isaac has cost state and local government agencies in Louisiana more than $66 million so far, and notes the cost is expected to grow. Jindal told reporters today that state agencies have spent more than $56 million on preparation and response efforts—including for shelters, fuel, and food and water. Additionally, the governor says parish governments have reported spending at least $10 million. That figure is likely to rise, however, as some tallies haven’t been updated, Jindal says. State Treasurer John Kennedy issued a statement today saying the Louisiana Department of the Treasury and the State Bond Commission stand ready to work with local governments across the state if they need to seek emergency short-term financing to pay for hurricane preparation and rescue/response efforts, or just to jumpstart Isaac recovery efforts in anticipation of delayed federal aid. Kennedy says disaster-modeling companies have issued preliminary public and private damage cost estimates ranging between $500 million and $2 billion for Isaac statewide. Reports suggest the federal government could provide anywhere between 75% and 90% of total loss costs. The Times-Picayune reports Jindal is also seeking assistance from the federal government for individuals affected by Isaac. Read that story here.