Village May See More FEMA Money to Help Offset Sandy Expenses
The Federal Emergency Management Agency may be on the hook for more than a 75 percent reimbursement.
There is a possibility the village of Garden City could receive a larger FEMA reimbursement to help offset expenses incurred during Superstorm Sandy, according to village auditor Jim Olivo.
The Federal Emergency Management Agency (FEMA) is currently expected to pay 75 percent of Garden City's storm expenses. The village and state are both still on the hook for 12.5 percent of total expenditures.
"There is currently some information coming back from representatives of FEMA that the storm was severe enough in the New York area that they may be obligating at a higher level than that," Olivo said. "They may actually pick up a higher percentage than 75 percent, which will be good for us."
A running tally of costs associated with the storm has exceeded $1 million, according to village officials.
As it currently stands, Olivo said the village will pay out anywhere from $700,000 to $800,000 of its own cash, assuming that's 12.5 percent of what the village's total expenditures are.
The money would likely be paid back in one year as a budget note not a bond.
If FEMA picks up more of the costs, Olivo said the state may not be willing to pick up as much.