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Schumer wants FEMA to approve Gowanda flood repair reimbursements

March 27, 2012

Today, U.S. Senator Charles E. Schumer called on the Federal Emergency Management Agency (FEMA) to swiftly reimburse the Village of Gowanda for a short-term bond that the village utilized to pay for recovery projects after the region's devastating flooding in 2009. The delayed reimbursement has translated into $200,000 in interest fees, adding a significant burden on the village and local taxpayers. In 2009, the Village of Gowanda took out a $5 million bond anticipation note (BAN) to cover the costs of approximately 70 repair projects, and 10 projects are still awaiting FEMA review. Schumer noted that the interest costs will only continue to rise with time, and in a small village like Gowanda these needless FEMA delays have put a serious squeeze on their budget. In addition, if the Village is forced to roll over the BAN again in the coming months, it will cost them an additional $25,000.



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