HCFCD Flood-Mitigation Spending Down for Third Straight Year
HCFCD Flood-Mitigation Spending Down for Third Straight Year
Source: Reduce Flooding Blog - Bob Rehak
Date: 01/22/2024 9:04pm
Article Summary:
"HCFCD Flood-Mitigation Spending Declines for Third Consecutive Year: Impact on Projects and Possible Reasons for Slowdown"
Harris County Flood Control District (HCFCD) saw a decrease in flood-mitigation spending for the third consecutive year, with total spending in 2023 amounting to $243.1 million, just over half of its peak in 2020. Possible reasons for the slowdown include departures of key executives, departmental reorganization, and a focus on planning how to spend HUD funds administered by the Texas General Land Office. However, there was good news as the 2018 flood bond became fully funded last year, with partner commitments exceeding $2.5 billion. Inflation has reduced the purchasing power of bond funds by 15-20% over the last four years, and concerns remain about whether there will be enough money to finish all projects.
Read article here »
Date: 01/22/2024 9:04pm
Article Summary:
"HCFCD Flood-Mitigation Spending Declines for Third Consecutive Year: Impact on Projects and Possible Reasons for Slowdown"
Harris County Flood Control District (HCFCD) saw a decrease in flood-mitigation spending for the third consecutive year, with total spending in 2023 amounting to $243.1 million, just over half of its peak in 2020. Possible reasons for the slowdown include departures of key executives, departmental reorganization, and a focus on planning how to spend HUD funds administered by the Texas General Land Office. However, there was good news as the 2018 flood bond became fully funded last year, with partner commitments exceeding $2.5 billion. Inflation has reduced the purchasing power of bond funds by 15-20% over the last four years, and concerns remain about whether there will be enough money to finish all projects.
Read article here »