HOUGHTON, MI-- The state is matching half of U.P. municipalities’ $7.4 million tab for flood damage, but repairs will likely remain on hold.
FEMA says Houghton, Gogebic, and Menominee counties sustained nearly $30 million in damage. Local entities must match 25 percent in order to get the full amount of relief.
Houghton County Administrator Eric Forsberg says the money will help, but county entities will still struggle to meet the match.
“It’s gonna be tough for a lot of the local units when the remaining 12-and-a-half percent is more than they take in in five years,” he says.
The U.S. Small Business Administration has approved Governor Rick Snyder’s request for a physical and economic disaster declaration for Houghton County. FEMA repeatedly denied personal assistance. Forsberg says the SBA is stepping in as a “lender of last resort.”
“If you have credit available elsewhere, you are supposed to go with that credit, first,” he says.
SBA funding can be used for personal property or real estate, equipment, and business assets.
