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Vermont Treasurer Announces Plan to Help Towns With Post-Irene Cash Flow Issues

By Pat Bradley

http://stream.publicbroadcasting.net/production/mp3/wamc/local-wamc-994913.mp3

Montpelier, VT – Towns and villages that suffered damage from Irene will see some help from the state of Vermont under an aid package announced Tuesday by state officials. State Treasurer Beth Pearce and other officials announced Tuesday that the state will speed up local highway aid payments, normally due in January, getting them to towns this week. Also being accelerated are school aid payments that would normally go to towns in December. State Treasurer Beth Pearce.

Treasurer Pearce says due to prudent fiscal management, the state can afford this aid package to municipalities.

Vermont League of Cities and Towns Director of Advocacy and Public Policy Karen Horn says 225 towns saw damage from Irene and some have been forced to borrow more than their annual budget to deal with the aftermath. Horn says numerous towns have been asking the state for this help.

Officials used the southern Vermont town of Halifax as an example of communities in need of the aid package. Halifax has fewer than 400 year-round residents with an annual budget of about $800,000, but has had to spend more than $7 million to rebuild roads and bridges destroyed by Irene.