FEMA Assistance to Gulf Exceeds $10B

The Federal Emergency Management Agency's infrastructure assistance to help repair or replace structures damaged by Hurricanes Katrina and Rita in 2005 surpassed $10 billion in early April.

Texas, Louisiana, Mississippi and Alabama all have received infrastructure funding through FEMA's public assistance program for the repair or reconstruction of schools, roads, utilities and other critical infrastructure, FEMA said.

"This is an unprecedented funding level in our nation's history of responding to natural disasters," said Jim Stark, acing associate deputy administrator for FEMA's Gulf Coast Recovery Office, in a news release.

"Over the past 30 months, FEMA has funded more than 74,500 projects across these four states and has worked hard to be a strong partner with states and local governments in restoring their communities."

Through the public assistance program, FEMA reimburses state and local governments, as well as some eligible nonprofit agencies, for the approved costs associated with repairing or replacing disaster-damaged infrastructure. The program also covers costs associated with debris removal and emergency protective measures related to the disaster.

(c) 2008 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com/ http://www.sourcemedia.com/

Next in News ►