The cost of damage from Hurricane Katrina to state-owned buildings in Louisiana totals nearly $1.3 billion–a figure that is expected to grow as the full extent of the damage is determined, according to preliminary estimates.
The Associated Press reported that the state has $500 million of insurance coverage on the structures and a $25 million deductible. Louisiana is expecting FEMA cover the costs over and above the insurance coverage. Additional damage to state buildings from Hurricane Rita is still being assessed. Mold and asbestos problems, a lack of materials and a high demand for contractors for rebuilding projects are likely to complicate rebuilding process.
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