Chamber highlights storm recovery solutions for businesses

An unprecedented hurricane season caused over $2.4 billion in damage to roughly 1,100 area businesses and 41,000 homes and, by proxy, the local economy and workforce.

The St. Petersburg Area Chamber of Commerce highlighted some storm-recovery solutions Wednesday for business owners and employees still reeling from Hurricanes Helene and Milton. The organization enlisted several local experts to discuss available resources in a free webinar, titled “Building Resilient Leaders and Sustainable Solutions.”

Eight panelists covered a wide range of topics, including home appraisals, property valuations, job opportunities and mental health impacts. Amy Foster, St. Petersburg’s housing and neighborhood services administrator, said the city’s We Are St. Pete Fund would soon provide financial relief for small businesses.

“People can be reimbursed for expenses they already have covered,” Foster said. “We know a lot of small businesses – in order to get back up and running – have already made those expenditures and put it on a credit card but really need assistance in order to make themselves whole.”

Foster said city council members plan to include home-based businesses in the grant program and provide up to $15,000 for commercial equipment and storefront repairs. She expects the initiative, which will also support homeowners and renters, to launch no later than March 1.

Foster noted the city also recently received $169 million from the U.S. Department of Housing and Urban Development to storm-harden facilities, support businesses and assist residents through a long recovery. “Don’t get too excited about that,” she warned. “Our understanding is that it’s about a two-year process.”

Joe Daly, director of specialty products for Guaranteed Rate Affinity, highlighted additional funding resources. He explained how renovation loans could provide up to $800,000 to complete storm repairs.

Daly said rebuilding a structure could cost more than the purchase price, and renovation lending could fill that gap. “We usually use the insurance money to pay down the previous mortgage and then borrow the dollars we need for renovations or repairs.”

Pinellas County Property Appraiser Mike Twitty has modified policies related to post-disaster property valuations. He said the goal is to make the process as “simple and beneficial” as possible for those affected by the storms.

His office now bases calculations solely on a property’s maximum living area. Twitty said that would maintain previous assessed value thresholds.

“That is huge, because you can essentially protect your assessment level, which obviously has an impact on your taxes,” Twitty added. “So, the area below base-flood elevation, as long as it is parking, storage or entry, will not be counted against you.”

His office conducts monthly in-person and virtual informational seminars. John Barkett, founder of Property Valuation Specialists, credited Twitty for staying “ahead of the curve.” He also highlighted his own property damage.

Barkett said he cross-trained appraisers as, essentially, floodplain administrators to meet the local need. He urged those with structural damage to estimate the depreciated value of improvements using a tool available on the property appraiser’s website.

Barkett said his company helps property owners make informed decisions. He stressed the importance of property owners realizing that “one of the most valuable tools they have is the ability to hire a private appraiser and accurately estimate the actual cash value of their asset.”

Eric Garduno, director of government affairs for the Bay Area Apartment Association, partnered with the City of St. Petersburg to host a Hurricane Recovery Rental Housing Fair. The event runs  until 7 p.m. today at the St. Petersburg Coliseum.

Garduno said representatives from 50 apartment communities located throughout the region would attend and highlight housing opportunities. City and Federal Department of Emergency Management (FEMA) staff will also offer related assistance.

Multifamily housing owners and property managers can attend and receive guidance on FEMA’s direct-lease program. The initiative allows displaced residents to stay in rented units for up to 18 months.

CareerSource Hillsborough Pinellas received a $600,000 grant to support job opportunities related to disaster relief and recovery. Jason Druding, vice president of business services, said those could include case managers, heavy equipment operators and laborers.

“We pay the wages for up to six months to help people get back on their feet,” Druding told business owners. “The program itself is fairly easy to tap into … We don’t just assign them to you and then you’re stuck with them.”

Dr. Joshua Barnett, a behavioral health data scientist for Pinellas County Human Services, noted the widespread physical and mental impacts from post-storm stress. He also offered a solution – the Care About Me coordinated access model.

Care About Me eliminates the arduous task of searching for appropriate and affordable mental health services during a turbulent time. The local program provides trained specialists who screen residents and match them directly with providers.

“And we follow up with the care provider to ensure everything worked as intended, essentially closing the loop,” Barnett said.