PRESIDENT CLINTON ANNOUNCES FEDERAL RESPONSE
TO HURRICANE FLOYD
February 4, 2000
President Clinton, today, announced that the Federal Government is
making available more than $6 billion to help affected states recover
from flooding and other damage caused by Hurricane Floyd.
The Federal Government has made more than $6 billion available to
assist affected states recover from the flooding and other damage
caused by Hurricane Floyd. These funds are derived from FY 2000
enacted appropriations, both regular appropriations and
supplementals contained in the November 1999 consolidated
appropriations bill. An additional $304 million is needed in FY2000
to handle remaining unmet needs from Hurricane Floyd, which the
Administration will request in the form of supplemental
appropriations. Among Federal agencies, USDA, FEMA, and SBA have
provided the bulk of disaster assistance, with North Carolina
being the largest recipient.
Highlights by Major Agency/Activity in FY2000 Floyd Supplemental
Federal Emergency Management Agency (FEMA): $77 million to fully
fund all eligible buyouts of damaged homes in the 100-year flood
plain (another $215 million was appropriated for this purpose last
Small Business Administration (SBA): $51 million supplemental
appropriation for loan subsidy and administrative costs so SBA may
respond fully to Hurricane Floyd (an amount that will support an
additional $141 million in loans).
Economic Development Agency (EDA): $25 million supplemental
appropriation to enable EDA to work with development districts and
states to plan long-term economic development and recovery in areas
affected by Hurricane Floyd. With the additional funding, EDA will
issue planning and technical assistance grants to development
districts, provide revolving loan funds to capitalize economic
development loans made by local organizations, and provide
infrastructure repair and improvement grants.
National Oceanic and Atmospheric Administration (NOAA): $13 million
to make payments to fishermen affected by Floyd and other
hurricanes ($11 million) and to repair a NOAA facility ($2 million)
in North Carolina.
Army Corps of Engineers (ACE): $19 million to address dredging and
emergency navigation work related to Hurricane Floyd. Also, the
ACE's FY2001 budget provides $2 million for restoring beaches in
Interior: $11 million is requested for: the U.S. Geological Survey
($2 million) to repair and replace stream monitoring equipment and
structures, the Fish and Wildlife Service ($5 million) to repair
damaged and destroyed property, and the National Park Service ($4
million) to replace damaged structures, facilities, and other park
Defense: $27 million to fund repair costs to facilities affected by
Hurricane Floyd, including buildings, roads, and other
Authorization language will be proposed to allow $50 million in
previously appropriated Emergency Conservation Program funds to be
used for repairing farm structures and equipment damaged by
Hurricanes Floyd or Dennis, or Tropical Storm Irene.
The Administration will request forgiveness of up to $81 million in
USDA commodity price-support loans made to producer-owned marketing
associations that suffered losses to the commodity collateral from
Hurricanes Floyd or Dennis, or Tropical Storm Irene. In a number
of cases, crops were damaged by natural disaster after the
associations had purchased them from member-producers. These crops
cannot be sold by the associations at the price they paid
producers for them and, in order to repay the USDA loan, the
member-producers would have to pay to cover the losses.
Forgiving a portion of the loan would reduce or eliminate these
additional producer payments.