S3102

TRENTON – Senators Linda Greenstein (D-Middlesex/Mercer) and Bob Gordon (D-Bergen) today introduced legislation to help low- and moderate-income families and business owners recoup property losses sustained from flooding following Hurricane Irene and subsequent tropical storms.

The bill would establish the Municipal Natural Disaster Relief Grant Program to allow local governments to provide aid to homeowners and small businesses for repairs necessary to occupy the buildings if the costs are not adequately covered by federal assistance granted through the Federal Emergency Management Agency (FEMA).

“Even though it has been a couple of months since Hurricane Irene hit the Garden State, families are still feeling the effects of the storm including severe damage to their homes and businesses,” Senator Greenstein said. “While FEMA funds can offer financial relief for victims of the hurricanes, it is often not enough to complete repairs for many of the hardest-hit New Jerseyans’ property. This local grant program will provide much needed funds to make these homes and businesses operational again.”

TRENTON – Senators Linda Greenstein (D-Middlesex/Mercer) and Bob Gordon (D-Bergen) today announced they plan to introduce legislation to help low- and moderate-income families and business owners recoup property losses sustained from flooding following Hurricane Irene.

The bill would establish the Municipal Natural Disaster Relief Grant Program to allow local governments to provide aid to homeowners and small businesses for repairs necessary to occupy the buildings if the costs are not adequately covered by federal assistance granted through the Federal Emergency Management Agency (FEMA).

“Homes and businesses across the state sustained significant damage in the wake of Hurricane Irene and the storms that followed,” said Greenstein. “While federal assistance has been made available, for many families and small business owners it just won’t be enough. This grant program will provide critical funding to help flood victims who otherwise would be unable to afford necessary repairs.”

The legislation would permit municipalities to use up to 15 percent of the revenues generated by affordable housing development fees to provide grants of up to $10,000 to homeowners and up to $15,000 for business owners, who are without insurance and for whom the repayment of a low-interest federal or state loan would constitute extreme hardship.

“Residents who were already struggling in the down economy have now found themselves with mounting expenses in the wake of these devastating storms. Sadly, the high cost of repairs has made it impossible for many property owners to return to their homes and for business owners to re-open their doors,” said Gordon. “This local government program will give residents the additional assistance they need to pay for much-needed repairs, so they can begin the process of rebuilding their lives.”