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Madison reports $2.87 million in road damage; FEMA aid possible but town weighing funding options
Summary
After recent flooding the town estimates about $2.87M in damage to Madison roads and has requested a federal disaster declaration; the committee discussed using underspent warrant articles, unexpended fund balances, or bond financing as stopgap measures while FEMA reviews the request.
The Capital Improvement Committee on July 22 heard Select Board representatives report preliminary flood damage estimates and funding options for emergency road repairs.
"For folks who haven't worked, so $2,870,000 in damage to the town of Madison roads," said the Selectman's representative, adding that Carroll County's total was about $3,100,000. Officials said the governor and the state's federal delegation have submitted a request for a federal disaster declaration; if approved FEMA could reimburse up to 75% of eligible repair costs to restore roads to their pre-event condition.
Committee members discussed immediate funding options while the federal decision remains pending, including reallocating unspent warrant articles (one road warrant is expected to be underspent by roughly $18,000), using the town's unexpended fund balance, or issuing a bond (figures discussed for New Hampshire Bond Bank financing were roughly 3–4% interest). The group also noted the possibility of a special town meeting or using a temporary bond and repaying it as FEMA funds are received.
The committee emphasized the need to maintain a prudent fund balance for emergency maintenance and to coordinate with FEMA and town engineers on project-level scopes so reimbursements align with completed repairs.
