Short-term loans eyed for businesses
FONDA – Supervisors are eyeing a resolution that would help businesses hurt by the recent flooding in Montgomery County.
At the Montgomery County Board of Supervisors’ Economic Development Committee meeting Tuesday, a resolution that would let the county issue flood disaster loans through the Economic Development Program Income Fund was moved to the full board meeting July 23.
The full Board of Supervisors may approve the resolution, officials said, which is intended to provide short-term bridge financing to businesses in the county that were affected by the flooding at the end of June.
Officials said the affected businesses are in need of immediate financial help, and those businesses are still in the process of applying for federal and state assistance.
The Economic Development Program Income Fund currently has about $2 million, said Kenneth Rose, director of the Montgomery County Business Development Center.
Financing for these businesses will be in the form of no-interest, short-term loans – no loan will be made for a period in excess of six months. Loans will not exceed $200,000, according to the resolution.
In a news release, National Grid said it has started a hotline to help expedite service restoration in the Mohawk Valley.
Once necessary repairs and inspections are completed, the release said, customers can call (800) 642-4272 to request a “relight” of gas services or “turn on” of electric services.
There is still cause for concern about flooding in the local area. The National Weather Service issued a flash flood watch, which includes Montgomery and Fulton counties, starting today at noon and running through this evening. Showers and thunderstorms are expected this afternoon, according to a news release from the National Weather Service. Local rainfall amounts could exceed 3 inches, the release said.
At Tuesday’s Public Safety Committee meeting, Sheriff Michael Amato presented a slideshow of photos. The photos were taken inside of the Sheriff’s Office building, displaying some of the issues he wanted repaired, including separated tiles, stained ceiling tiles, cracked sidewalks and rusted doors.
Board members said they were disgusted with photos of the building that’s only about 15 years old.
Amato said he was ashamed of the building and wanted it to look like it did when it was built.
“I want [the building] to look like it did when I came there, but there are serious problems that need to be addressed,” he said.
St. Johnsville Supervisor Dominick Stagliano suggested someone go into the building and evaluate what’s wrong so the problems can be properly corrected.
Solutions for the sheriff’s office will be discussed at the next Public Safety Committee meeting.