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Louisiana Land Trust Board Meeting

Louisiana Land Trust Board Meeting. Financial Budget Presentation For the Fiscal Year Ending June 30, 2011. Louisiana Land Trust Project Allocations ($000). $221 Million – Allocated to LLT as stated by LRA Executive Director $195 Million – Allocated to LLT in current CEA

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Louisiana Land Trust Board Meeting

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  1. Louisiana Land TrustBoard Meeting Financial Budget Presentation For the Fiscal Year Ending June 30, 2011

  2. Louisiana Land Trust Project Allocations ($000) • $221 Million – Allocated to LLT as stated by LRA Executive Director • $195 Million – Allocated to LLT in current CEA • Does not include any expenses incurred after June 30, 2012 including long term monitoring

  3. Louisiana Land TrustCost by Category ($000) • Miscellaneous cost include: • $21,000,000 for FEMA demolitions of LLT properties in St. Bernard • $10,000,000 for slab removal of Non-LLT properties in St. Bernard • $3,000,000 for Admin fee reimbursements to St. Bernard and NORA which will be made in fiscal year 2011 and later recovered in fiscal year 2012

  4. Budget AssumptionsProperty Dispositions • June 30, 2010 Estimate based on actual data through April 15, 2010 • Ending inventory as of June 30, 2010 assumes • 287 additions not yet received • 222 dispositions by June 30th • Dispositions only include Closed and Completed

  5. Budget AssumptionsDemolitions STRUCTURES Structures represent an increase of 537properties over 2010 budget assumptions $7,000 cost per unit $5,250 additional for abatement which is applied to 80% of structures $9,602 average cost per structure March 31, 2011 completion date for all structures SLABS Slabs represent an increase of 682 properties over 2010 budget assumptions $4,150 cost per unit December 31, 2010 completion date for all slabs

  6. Demolition Assumptions ($000) • Demo Management • $3,091 per unit • 8,475 Units (3,254 Structures and 5,221 Slabs) • Permitting • $100.00 per structure in New Orleans • $25.00 additional if in NCDC • Utility Disconnects • $500.00 per disconnect if volume is greater than 300 units/month • $600.00 per disconnect if volume is less than 300/month • LDEQ • MOU with LDEQ sets hourly rates for resources • Cost ran higher than originally expected due to Storm Retention/EPA concerns • Structures • 3,254 Total Structures at an average cost of $7,000 each • 1,054 to be demolished by June 30, 2010 and 2,200 by March 31, 2011 • RACM Demolitions • 1,760 of homes will require RACM demolition in 2011 • $5,250/unit based on average of 1,500 sq ft at $3.50/sq ft • Slabs • 5,221 Total Slabs at a cost of $4,150 each • 3,446 to be demolished by June 30, 2010 and 1,775 by December 31, 2010

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