How Disasters Triggered a New Emphasis on Resiliency
The wave of U.S. catastrophes in the past year has northeast municipal issuers scrutinizing resiliency options and how to fund them.
New York-based disaster financing expert Alan Rubin said cities such as Boston could take smaller measures and not let an overall price tag spook them, especially with federal funding a vast uncertainty.
“Part of the problem with looking at solutions is that they do look at the larger number,” said Rubin, nicknamed the “Hurricane Czar” for his extensive work in Miami-Dade County, Fla., after Hurricane Andrew caused more than $30 billion in damage in 1992.
“It’s impossible to get those types of dollars,” Rubin said of Boston. “It’s not going to work on the state level, on the local level. It’s not going to work on the federal level. You need to do it in phases.”
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"How Disasters Triggered a New Emphasis on Resiliency," by Paul Burton was published in The Bond Buyer on January 19, 2018.