The President signed an executive order today increasing the federal share to 90 percent of costs for public assistance received on projects from the flood recovery. Normally, the federal share would be 75-percent, state share would be 10-percent and the local share would be 15-percent. What this means is that the state share will now be 10-percent and local share will be 0.
This is great news for the city, especially for our electric utility which was facing repairs into the millions to put our generation plant into business. Benton County also benefits when it goes to either repair or replace the county law enforcement center and jail. This would have been costly for the county--at least into the millions of dollars.
Flood recovery is a slow pace thing, but together our community is sticking with it!
You can read the announcement of the Presidential announcement by clicking here.