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Select board hears update on FEMA payments and project funding
Summary
A staff member told the select board that the town expects roughly $1.39 million in FEMA reimbursements by late September or early October and outlined bond-bank and line-of-credit options to cover remaining local costs.
A staff member told the Select Board that FEMA reimbursements are beginning to arrive and that the town’s capital projects are moving forward pending engineer estimates. "So I gave you a spreadsheet that covers the FEMA obligation to date," the staff member said, listing two recent payments and several pending items from June that the state had not yet located.
The staff member said the town could expect roughly $1,390,000 by late September or early October and possibly additional sums that would bring the total just under $1.5 million when remaining payments post. "We should have by the end of September early October 1,390,000," the staff member said. The board discussed the bond bank contribution, an $8,50 grant noted in the spreadsheet, and a $1,000,000 line of credit the town can access if needed. Members said they will continue to track engineer estimates before committing construction funds.
