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State recovery official: FEMA reimbursements improving but cash gap remains for Vermont towns
Summary
State Chief Recovery Officer Douglas Farm told the House Appropriations Committee that FEMA obligations and draws have resumed after a brief review pause, but municipalities still face roughly $124 million in unpaid costs and hazard mitigation funding is largely committed to buyouts.
Douglas Farm, chief recovery officer for the state of Vermont, told the House Appropriations Committee on April 15 that federal reimbursements for storm damage are starting to move again after a short FEMA review pause, but municipalities and the state still face a large cash shortfall while complex projects remain under negotiation.
Farm gave a numerical update on damage and funding: the state’s working estimate of FEMA-eligible damage for 2023–24 is about $642 million where repairs are not yet complete and roughly $815 million in total damage between state and municipal claims. Of the $173 million in completed work, $149 million is the federal share; FEMA has written agreements obligating $104 million of that and $49 million has been drawn down, leaving roughly $124 million in outstanding cash between state and municipalities, Farm said.
The gap has prompted interim lending and short-term programs: the state treasurer and the Municipal Bond Bank provided roughly $15 million in loans to towns, the emergency board authorized about $5 million from the ERAF balance, and another $13 million was made available recently, for approximately $33 million in lending to…
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