Obama extends FEMA funding program for storm-hit NJ
On account of Hurricane Irene, President Barack Obama has assigned the Federal Emergency Management Agency (FEMA) with provisiona of various loan and funding programs for New Jersey on Wednesday.
The Garden State is still recuperating from the storm which hit state last Sunday. The aftermath – loss in terms of homes and business collapses - is still being counted and sharply felt by the local people.
Several post-storm relief programs, including providing credits and finances, have set by the federal government to rebuild homes and regenerate businesses hit by the latest Hurricane, Irene.
Permanent destruction to houses, businesses, farmhouses, highways and water-treatment plants has been caused by the storm. Barack Obama’s issuance of disaster relief determined the losses to the tune of hundreds of millions of dollars and predicts the total to reach upto billions.
Obama’s issuance of disaster relief program
Federal Emergency Management Agency (FEMA) set by the Obama government will fulfill important state duties and obligations.
The FEMA program will provide grants for temporary housing for the owners of unlivable homes. The grants will also be available for home repairs and replacement of essential yet uninsured household items.
Federal funding is also available for personal property replacement and for meeting other disaster-related needs like medicinal, dental, funeral, transportation etc., as these are basically non-insured expenses.
FEMA also covers payments on joblessness owing to the hurricane. Losses which are not fully remunerated by insurance will be met by special low interest loans.
Besides residential loans, other loans on agriculture, aquaculture and ranchmen, up to $500,000 are also available.
Finally, small businesses, agrarian co-op, non-profit and private loans up to $2 million are sanctioned by the federal authority in the FEMA program.