Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Fema Reimbursements topic
No spam. Unsubscribe anytime.
Selectboard reviews FEMA reimbursements, bond loan balances and a $1.7M shortfall for bridge repairs
Summary
Town staff reported $1.431M in FEMA funds, $670k available from a Vermont Bond Bank loan and a projected $1.78M estimate for Bridge 6 repairs, leaving the town roughly $1M short if full repairs are completed and federal reimbursement is uncertain.
Town staff presented a summary of the town's disaster-related funds and projected liabilities as the board weighed options for bridge and culvert repair work.
The presenter (Staff member (S1)) told the board the town had received $1,431,000 from FEMA and still had $670,000 available from a $1,000,000 Vermont Bond Bank loan, for roughly $2.1 million in funds available for future projects; S1 also reported a possible state cost-share of about $349,000. The same presenter noted liabilities of about $1,180,000 on the bond bank loans and estimated remaining costs for Bridge 6 embankment at approximately $1,780,000. "So that brings us to 2,400,000... we're short about 1000000," S1 said.
Board members expressed uncertainty about whether FEMA and federal funds would be available in 2026 (S1 described federal budget cuts and agency furloughs) and discussed options if reimbursements do not materialize: downgrade road classification, perform minimal repairs, or proceed and carry debt. The board agreed to get engineering bids and said staff should pursue reimbursement as soon as federal contacts and systems are available.
