Flood damage at Great Ape Trust will likely exceed $1 million

Des Moines, Iowa – August 27, 2008 – Flood damage earlier this summer to Great Ape Trust of Iowa’s 230-acre southeast Des Moines campus will likely exceed $1 million, but the full financial impact of the record flooding may not be known for another year.

Great Ape Trust’s losses include damage to buildings and infrastructure, but also those related to business interruption issues, said Director of Operations Jim Aipperspach. Operations at Great Ape Trust's campus have essentially returned to normal from a research standpoint, but the full extent of The Trust’s losses may not be known for some time. The Trust’s losses will be fully covered by insurance.

"This is a thoughtful, step-by-step process requiring a significant amount of due diligence and discipline, and it takes time," Aipperspach said. "The entire financial impact of the flood may not be realized for a year or more."

Officials at The Trust are eagerly awaiting the release of a U.S. Army Corps of Engineers hydrologic analysis of factors contributing to record flooding in June in the Lake Red Rock water storage area, of which Great Ape Trust is a part. The report could come as early as next month, said John Holt, Lake Red Rock’s assistant manager.