An economic and market research company reports at the current pace, it could be 2029 before rebuilding is complete in Montecito from the deadly debris flow which devastated parts of the community.
Santa Barbara-based Robert Niehaus, Incorporated reviewed building permits and other documents related to recovery efforts.
They released their update Thursday, on the second anniversary of the disaster which killed 23 people, injured more than 160, and destroyed or damaged about 600 buildings.
The study shows that about $13 million dollars worth of work has been completed, and $18 million is in progress. The company’s analysts estimated that total recovery costs could come to around $57 million dollars. Link to report: https://bit.ly/37VEjZj
