WASHINGTON, D.C. – July 17, 2015 – (RealEstateRama) — As a legislative representative of one of the areas hardest hit by Super Storm Sandy, it’s encouraging to see the U.S. House has approved legislation to allow businesses damaged by the catastrophic storm to again seek federal disaster loans.
We are fast approaching the storm’s three-year anniversary and yet many of our business owners, as well as homeowners, are still in desperate need of assistance. My colleagues, Sen. Jim Holzapfel and Assemblyman Greg McGuckin, and I have worked closely with federal agencies to help those in need navigate available loan programs, many of which were mired in red tape.
While we understand the Small Business Administration (SBA) was overwhelmed with assistance requests immediately following the storm, the entire process has left a bad taste in the mouths of many business owners who were relying on these funds to recover and rebuild. That’s why we welcome another potential opportunity for relief statewide, and especially in Ocean County, which bore the brunt of the damage.
The bill, which now goes to the Senate for a vote, also contains a much needed long-term component. It calls for an overhaul of the SBA’s disaster response procedures and requires the agency to inform Congress on how long it is taking to handle applications.
Unrelated to the measure, but welcome news for property owners, the Federal Emergency Management Agency (FEMA) has agreed to revisit the claims of nearly 142,000 homeowners who were denied all of the insurance money they were entitled to because their storm damage may have been minimized.
We strongly urge the U.S. Senate to expeditiously pass this bill and the President to sign it. Too many of our business owners have waited much too long for the relief they need and deserve.
Assemblyman Dave Wolfe
10th Legislative District
Brick Township, NJ
