Uncle Sam came to aid for Vermont when it is being ravaged by spring flooding. President Barack Obama has declared the state to be a major disaster prone area and that has cleared way for federal aids to businesses, home owners and public agencies.
The declaration is meant for counties like Chittenden, Addison, Franklin, Essex, Lamoille Grand Isle and Orleans. The declaration comes as good news for Vermont as this assistance will help Vermont overcome its flooding crisis.
This declaration is an “individual assistance” that will bring grants up to $30,200 to homeowners and renters and millions would go as “public assistance” to cities, towns and state. Based on Federal Emergency Management Agency reports on flooding, Obama issued the declaration. It stretches from Lake Champlain shores to villages and towns in northern Vermont and state capital of Montpelier and neighboring Barre.
The aid would be made available in the form of loans and grants to people who suffered losses due to floods. Homeowners can get up to $240,000 as low interest SBA loans. Businesses can find up-to $ 2 million in low interest loans to rebuild. Government entities would get 75 percent reimbursement for meeting expenses to repair public infrastructure.
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