New York Governor Seeks SBA Declaration For Victims Of Delaware County Flooding

August 9, 2007 -- New York Governor Eliot Spitzer today requested a physical disaster declaration from the federal Small Business Administration (SBA) for homeowners, residents and businesses in Delaware County who were adversely impacted by the June 19 flash flooding.

“The impact the June flash flood had on Delaware County and especially the Town of Colchester was truly devastating for the 2,000 individuals who live there and the community as a whole,” said Governor Spitzer. “The Federal Emergency Management Agency major disaster declaration will provide vital financial assistance as we rebuild critical infrastructure, but we cannot forget the individuals and businesses in need of assistance. Physical disaster loans offered by the SBA will help small business owners and residents secure low-interest loans so they can repair and rebuild.”

SBA assistance would provide homeowners and renters with low-interest physical disaster loans to pay recovery costs not covered by insurance. Renters and homeowners alike may borrow up to $40,000 to repair or replace clothing, furniture, cars or appliances damaged or destroyed in the disaster. Homeowners may apply for up to $200,000 to repair or replace their primary residence to its pre-disaster condition.

Businesses of all sizes would be eligible to apply for physical disaster loans of up to $1.5 million to repair or replace damaged real estate, equipment, inventory and fixtures. The loan may be increased by as much as 20 percent to protect the property against future disasters of the same type. These loans will cover uninsured or under-insured losses.

The flash flood occurred the night of June 19-20. The area along the border of Delaware and Sullivan Counties received up to 8 inches of rain in a matter of hours. The water washed out one bridge, damaged several other bridges and roads, incapacitated all landline and cellular communications and ripped homes from their foundations.

A detailed assessment of the damages to the homes and businesses in the county was conducted by the State Emergency Management Office, the Federal Emergency Management Agency and the Small Business Administration to determine the impact. These assessments found that 37 homes had been destroyed and 16 additional homes had suffered major damages.

The damage assessment results show that the majority of homes and businesses surveyed have suffered uninsured losses of 40 percent or more of their estimated pre-disaster fair market value. At this time, 29 homeowners in Delaware County are still living in FEMA temporary travel trailers a year after the floods of June 2006.

Source: New York Governor

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