Raleigh, NC -- The city of Princeville, in Edgecombe County has been approved for a $2.5 million public assistance grant FEMA and the state of North Carolina. The grant, for damages and losses caused by Hurricane Floyd, was made to the Princeville Housing Authority. It will be used to replace 50 apartment units, one administration and one maintenance facility destroyed by flooding. The units were under 12 to 15 feet of water for five days last fall.
"Princeville suffered tremendous losses from Hurricane Floyd," said Vice President Al Gore. "These funds are good news. They will help the people of Princeville rebuild their community and focus on the future."
Total cost for the replacement is $2,513,399, with FEMA providing $1,885,049.25 (75 percent) and the state furnishing $628,349.75 (25 percent). This funding will replace 11 one-bedroom, 17 two-bedroom and 22 three-bedroom apartments, as well as the main office and a maintenance building that were destroyed. It also covers the demolition and debris removal costs of the flooded units.
The Princeville Housing Authority will purchase a National Flood Insurance policy to cover the value of the new units in order to safeguard their investment in the event of future flooding.