FROM: FEDERAL EMERGENCY MANAGEMENT AGENCY
Federal Disaster Aid to Illinois Residents Tops $139 Million
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Release date: JULY 19, 2013
Release Number: 4116-081
AURORA, Ill. – Federal assistance in Illinois has reached more than $139 million, distributed among more than 57,000 individuals and households, since a major disaster was declared for storms and flooding that occurred April 16 through May 5.
The latest summary of federal assistance includes:
More than $139 million in FEMA grants approved for individuals and households;
Of that amount, more than $120 million has been approved for housing assistance, including temporary rental assistance and home repair costs;
More than $19 million has been approved to cover other essential disaster-related needs, such as medical and dental expenses and damaged personal possessions;
More than 83,000 home inspections have been completed to confirm disaster damage;
More than $40 million in loans to homeowners, renters or business owners has been approved by the U.S. Small Business Administration.
FEMA COMMUNITY DISASTER LOANS IN NEW JERSEY TOTAL $125 MILLION
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Release date: JULY 23, 2013
Release Number: 4086-195
TRENTON, N.J. -- The Federal Emergency Management Agency in partnership with the State of New Jersey has approved $125 million in low-interest Community Disaster Loans for eligible jurisdictions in New Jersey. The program helps jurisdictions that have suffered substantial revenue losses from a major disaster to perform their governmental functions.
As of July 18, FEMA has received 83 loan requests and approved 53. Community Disaster Loans are intended to help local governments and jurisdictions to carry on existing official functions or to expand such functions to meet disaster-related needs.
“Community Disaster Loans are based on the need to bridge the revenue gap so local governments can continue functioning after a disaster,” said FEMA Federal Coordinating Officer Gracia Szczech. “Typically, the loans help cover operating expenses such as salaries for police officers, firefighters and teachers while the community recovers.”
The maximum loan is $5 million. Jurisdictions must demonstrate the need for assistance to perform government functions. The term is five years but can be extended to 10 years if the applicant chooses. Interest on the loans equals the rate for five-year maturities, adjusted to the nearest 1/8 percent, determined by the Secretary of the Treasury on the day the note is executed. Loans cannot exceed 50 percent of a jurisdiction’s operating budget for the year in which the disaster occurs.
The loans cannot be used as a jurisdiction’s non-federal cost share for any federal grants. Nor can they be used for capital projects, such as new buildings, or to repair or restore damaged public facilities. Congress allocated additional funds to the Disaster Assistance Direct Loan Program Account after Superstorm Sandy.
