The total cost of damage throughout the summer "far outstrip[s]" the millions in damages caused by the Los Angeles riots in 1992. Riots That Followed Anti-Racism Protests Come At Great Cost To Black-Owned Businesses The Black Lives Matter demonstrations have brought huge protests against racism. Minnesota leaders are debating the state's financial responsibility for helping Minneapolis and St. Paul pay for property damage and other costs related to last summer's civil unrest. (The Center Square) – A Minneapolis diner sued the city for not stopping rioters from demolishing its property. Also on the top 10 list: The 1965 Watts riots in Los Angeles; the 1967 Detroit riot that inspired the Gordon Lightfoot song "Black Day in July"; and the great New York City blackout of 1977. The riots also caused between $1 billion and $2 billion in property damage and injury costs. Minneapolis two months after the riots: ‘A desolate wasteland ... Watch this clip and you’ll see the incredible scale of the damage. On Friday morning, Minneapolis looked more like a war zone than an American Midwestern city. The city released a … In context, the Los Angeles riots in 1992 lasted over five days with over 1,000 damaged or destroyed buildings. A pawnshop was burned down during the riots in Minneapolis. Owners and insurance experts estimate the costs of the damage could exceed $500 million. Here are the reports of damage or looting that have come in since Wednesday evening. The riots that took place in the Minneapolis-St. Paul area during the George Floyd protests caused serious damage to many buildings. Of note: While U.S. companies have learned the hard way that their insurance doesn't cover business interruption related to the coronavirus, most policies emphatically do cover riot-related losses. The lawsuit is the first since the May riots, which resulted in roughly $500 million in damages to properties located in the Twin Cities. At cost of $350 million, approximately 1,300 properties in Minneapolis were damaged by the rioting and looting, of which nearly 100 of which were entirely destroyed., Neighboring Saint Paul suffered damages that totaled $82 million and affected 330 buildings, including 37 that were heavily damaged or entirely destroyed, mostly along the city's University Avenue business corridor. Many incidents from the Riot Summer were just as shocking as the Capitol debacle. Months after riots and fires damaged buildings in Minneapolis and St. Paul, business and property owners are absorbing a new blow: The costs of demolishing ruined structures and … According to Minneapolis Fire Department, crews responded to at least 30 fire calls in the city, including 16 structure fires. MINNEAPOLIS (WCCO) — Minneapolis city officials now say 700 buildings were damaged, burned or destroyed in the recent unrest following the death of George Floyd. The civil unrest in Minneapolis and St. Paul has left a trail of burned out buildings, smashed windows, and looted stores across the Twin Cities. MINNEAPOLIS (AP) — Officials in Minneapolis say the looting and property damage that followed the death of George Floyd has caused at least $55 million in destruction. Multiple businesses in south Minneapolis near the 5th Police Precinct were looted and burned. ET President Trump has denied a request from Minnesota’s governor for money to rebuild parts of Minneapolis that were destroyed during the riots following the death of George Floyd. This story will be updated as more reports come in. The company has not yet updated … Tim Walz would authorize $150 million in bonds to help redevelop parts of Minneapolis and St. Paul that were damaged in riots. For example, the Star Tribune reports that in the Minneapolis area, demolition costs for properties destroyed in the riots are far exceeding what insurance will cover. Grocery stores and pharmacies were among the dozens of businesses looted and damaged, some even completely destroyed, during riots late Wednesday into Thursday morning. The newspaper found that “Most policies limit reimbursement to $25,000 to $50,000, but contractors have been submitting bids of $200,000 to $300,000. Vandals damaged or set fire to at least 220 buildings in the city where Floyd died, but that number is expected to go up, city officials said. This is the insurance bill for damage and looting during protests over George Floyd’s death — and that’s just in Minnesota Published: June 9, 2020 at 9:19 a.m. Damage from the riots was estimated to exceed $500 million and the Trump administration denied a request for federal funding to help offset the cost of cleanup and recovery. Recently, I wrote about research which showed that the economic damage of rioting lingers for a long time.With the recent riots in the Twin Cities, we can see this grim dynamic playing out in real time.. One of the businesses wrecked was Brit’s Pub on Nicollet Mall. We've also created a list of fundraisers for damaged businesses. PCS said shortly after rioting erupted in Minneapolis that damages there could reach $25 million in Minnesota alone. A plan from Gov. Moreover, a separate 2004 study on the 1992 LA riots found that the riots accounted for a loss of economic activity that cost the city $3.8 billion in taxable sales and some $125 million in direct sales tax revenue. Sen. Julie Rosen, R- Fairmont, disagreed with the decision to spend $11.7 million to rebuild Hennepin County after May riots and noted Republicans have blamed Walz for the $500 million damage done in the Twin Cities for not activating the National Guard sooner in the wake of George Floyd's death at the hands of Minneapolis police. That would make the Twin Cities riots the second-costliest civil disturbance in U.S. history. Gov. KSTP has been live on the ground covering the latest updates involving the ongoing riots.
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