BATON ROUGE (AP) — Louisiana's contract with disaster recovery firm IEM to administer a homeowner flood aid program is estimated to cost $227 million.
The Greater Baton Rouge Business Report’s Stephanie Riegel reports the state has completed its deal with IEM to manage the $1.3 billion program to assist homeowners with damage from the March and August 2016 floods.
Of the $227 million cost of the contract, $127 million will go to IEM for program management and construction management. The remaining $100 million will be paid to the firm to cover construction costs for people who let the state handle the rebuilding of their homes.
Homeowners will be able to choose among four options: state-managed construction, homeowner-managed construction, reimbursement for eligible expenses on completed rebuilding and buyouts in limited circumstances.
