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FEMA PA Categories $ 1,774,587 <br />Hazard Mitigation Categories $ 28,350,000 <br />C. Economic Revitalization <br />While the commercial and economic sectors of the City experienced damage and loss as a result of the <br />two Flood Events, current data leads us to believe that the impacts, as well as the eventual recovery <br />needs, are not as steep as those in the Housing and Infrastructure sectors. Most businesses in the flood <br />path were covered by insurance, and anecdotal evidence gained from multiple business surveys and <br />damage assessment "walks" conducted on behalf of the City indicate that even those businesses that <br />may not have had insurance have recovered and are moving forward. While some small businesses had <br />issues reopening due to the need to comply with recent changes to the flood ordinances, the assistance <br />they need may more likely be able to come from outside sources and not the City. <br />Initial damage estimates indicated that 35 businesses were damaged as a result of the floods, with the <br />hardest hit group being the hotel trade and the Industrial Park: five (5) hotels were within the flood path <br />and reported loss of use of the first floor and lobby areas, with 124 rooms being damaged or unavailable <br />for use immediately after the events. This accounted for approximately 50% of the hotel rooms in that <br />specific area and prevented those hotels from being able to provide shelter to families who were forced <br />from their homes, thus exacerbating an already tenuous housing situation and preventing the hotels <br />from "selling" their rooms to travelers. Other hotels in the City were able to make rooms available, but <br />as the initial May event occurred during an already busy tourist season, the loss of those 124 rooms <br />accounted for an aggregate loss of $39,329.43 in revenue for the May flood time period. <br />As of April 30, 2016, SBA loan data shows that from the two Flood events, 29 businesses applied for SBA <br />assistance, with 15 of those applications being approved. SBA has currently provided the City business <br />owners with $4,227,300 of assistance. Additionally, 30 businesses have filed insurance claims with the <br />NFIP. <br />One final critical piece of information to note, of the businesses that were impacted in these flooding <br />events, none of them were forced to lay off or relocate workers as a result of the loss in operations <br />capacity or damage. Therefore, there was no negative effect on the size of the workforce after the <br />floods, further indication that the need for assistance in this Category is minimal to non-existent. <br />Conclusion and Summary of Unmet Economic Development Need <br />Given that the business industry seems to have recovered itself, and that it has the adequate resources <br />to affect any additional recovery needed, the City does not anticipate allocating any CDBG-DR funds <br />under the Economic Development category. <br />D. Additional Hazard Mitigation activities <br />As has been mentioned in each of the above sections, Hazard Mitigation activities will need to be <br />undertaken in nearly all sectors of the City to safeguard against the losses incurred by these floods, and <br />the multitude of floods that have inundated the area over the last 20 years, so that they do not continue <br />Last Updated 3/03/20 Page 33 of 63 <br />