A special fiscal panel has given the Scott administration the green light to dole out up to $5 million in low or no-interest loans to flood-impacted municipalities.
Doug Farnham, Vermont's chief recovery officer, told the state's emergency board Tuesday that while the federal government is still assessing damage from flooding earlier this month, it's already clear that some towns will absolutely need the cash.
"Several communities have experienced damage which exceeds their short-term ability, their cash ability to conduct those repairs significantly — in some cases, to the order of potentially more than five times their annual budget," Farnham said.
The state is still awaiting word from the Federal Emergency Management Agency about whether Vermont will be granted a major disaster declaration — and the federal dollars that come with it.
Gov. Phil Scott expressed confidence in an interview Tuesday that Vermont would receive such a declaration. But he also said it's likely the amount of damage will only qualify Vermont for a 75% reimbursement rate from FEMA, instead of the 90% match unlocked after last year's historic flood.
"We'll have to have ongoing conversations about what we do from there. But this is really just a bridge to keep them going in the short time," he said. "This is not over."
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