Washington, DC -- The Federal Emergency Management Agency (FEMA) today announced that states affected by Hurricane Floyd and surrounding events will begin receiving an interim allocation of funds for buyout and relocation of properties damaged by the storms. The interim funds, amounting to nearly $90 million, are part of the total $215 million approved by Congress beyond the funds available for mitigation efforts through FEMA's Hazard Mitigation Grant Program.
"These funds will assist states in a way that will ensure they are able to build safer communities," said FEMA Director James Lee Witt. "When communities place an emphasis on disaster prevention, we will begin to see a cut in the economic and emotional costs of disasters."
The interim money being allocated is based on projections of immediate need, and is being provided to allow projects already submitted to the states to move forward. The states will disburse the funds they receive, which must be matched by 25 percent non-federal funding and can be used only for primary residences that are uninhabitable due to the disaster. The interim grants awarded today are based on a review of the required application data submitted to date by qualifying states.
Thirteen states in all, from Florida to New England, received federal disaster declarations due to the flooding associated with Hurricane Floyd and are eligible for property relocation and buyout assistance.