The state government’s total unreimbursed expenses for damage related to last May’s floods are now expected to come to just a million dollars. Treasurer David Lillard received an insurance check worth more than $7 million this week.
Shortly after the May floods, a $5 million insurance check was issued to the state. Total damage to state buildings and state-owned property is estimated to be $20 million.
A release from the Department of the Treasury says Lexington Insurance Company is now expected to cover three-quarters of the rebuilding cost. The Federal Emergency Management Agency is picking up $4 million, leaving the state responsible for the remaining $1 million.
The cost of repairs to property owned by the city of Nashville came in much less than original estimates but still far exceeds the state tally. Metro Government’s total damages are between $100 and $150 million, with the city on the hook for roughly five percent of that amount.
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