NOVEMBER 2022

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FeatureGrand Isle: Paradise Needs ProtectingBY CHARLOTTE SMITHMany of us have a GrandIsle story. It’s hard not to bedrawn to the little town ofparadisal views when thesun sets just right on theGulf’s horizon, and sunrisesthat make you lose yourbreath for a moment simplyfrom the beauty of them.When I was in college, Isang in a cover band. Twicea month we’d hit the roadfrom Baton Rouge andmake the trek to GrandIsle. I loved that drive.Once we’d hit the SunshineBridge, I could feel theanticipation of crabbing inthe mornings, sunburns inthe afternoons, and puttingsmiles on the faces oflocals and tourists just backfrom fishing while I belted out power ballads all throughthe night. They are more than a few of my fondestmemories. I loved that town. I love it still, so I’ve followedGrand Isle’s story since then, some 30 years ago. Andwith each storm that hits, I feel the tension in my ownbody as though I’m bracing for it myself.Sadly, Grand Isle is also the apple of many a hurricane’seye. There’s damage on top of damage as a long list ofstorms have made their way onto Grand Isle’s shores.With each direct hit, a part of my past feels washedaway. I watch the news and see buildings lost, and I hearreporters rattling off statistics on landmass also gone asa ravaged coastline becomes more and more defeated.But there’s a new crisis facing Grand Isle now, and thefact that it’s down to the forcing of a hand in terms ofdifficult decisions makes it even harder to bear.The town can’t afford wind insurance. There’s no longeran if, but a when in terms of storms. And when the nextstorm hits, the repercussions of this lack of insurance willbe felt long after any cleanup. Because without insurance,there are no dollars coming in for repairs.In just one year, the town’s wind insurance rates havemore than doubled, and the town simply can’t afford thecosts any longer. $161,000 is a lot for wind insurance ina town still awaiting millions in federal aid, and moneymust come from somewhere to pay town employees- employees who have also lost homes and need anincome to keep what little they have together for theirfamilies. So, at this moment in time, Grand Isle is withoutwind insurance on a number of its town properties - thetown hall, the police department, the police chief storagebuilding, the community center, the multiplex, andthe town’s storage building. If another storm hits, andthe wind huffs, and it puffs, and it blows them all down,without insurance it’s anyone’s guess what Grand Islewill be able to do. And, sadly, the odds aren’t in its favor.Grand Isle Mayor David Camardelle isn’t a man to holdback on the magnitude of emotion that surrounds thissituation. He knows insurance is necessary, but so are hisemployees.“I know this is risky, but what do you do when it comesCONTINUED PAGE 8Page 6LMR | NOVEMBER 2022
GOVERNMENT CONSULTANTS, INC.Specializing in Bond Issues and FinancingOVERVIEWModern day government has become a large financial enterprise, handling millions of dollars and facing serviceand revenue pressures. The governing authority and Administrator(s) face complex financial decisions rangingfrom the impact of property and sales taxes to the financing of capital improvements. As government financehas become more complex, the need for financial advice to base decisions upon has. The services of an expertMunicipal Advisor are being used by more and more governmental units.A Municipal Advisor (or “MA”) serves as a consultant advising the governing authority on mattersrelating to the following:• Financial feasibility of projects• Total cost analysis of financing alternatives• Review of capital improvement financing programs• Advice on the structuring and marketing of debt securitiesThe MA is an integral member of the governing authority’s management team, providing independent adviceand analysis to assist in financial decision-making.ECONOMIC DEVELOPMENT FINANCE ANALYSIS• Analyzing available alternatives in relation to cost to the governing authority and providing financialguidance and recommendations;• Analyzing from a cost/benefit standpoint the use of incentives (free land, subsidy of bond issues, utilityimprovements) to attract industry;• Providing a detailed upfront and long-term financial analysis of costs to the governing authority versusbenefits of the specific project; and• Serving as an economic development finance resource for the Governing Authority.6767 Perkins Rd., Suite #250Baton Rouge, LA 70808Phone: (225) 344-2098Email: gcla@gc-la.netLMR | NOVEMBER 2022 Page 7
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NOVEMBER 2022

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