As per the memo from the board dated May 13, 2013. EMP, as a Coop is not eligible for FEMA funds in the case of a disaster like Hurricane Sandy. http://www.nytimes.com/2013/05/02/nyregion/fema-policy-keeps-co-ops-from-disaster-aid.html?pagewanted=all
In the case of major damage to EMP from a storm like Hurricane Sandy, EMP would receive no federal funds even though we pay our taxes like any other homeowner.
Please go the web sites of our federal representatives and ask them to reform the Stafford Act.
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I am a shareholder in East Midtown Plaza, a Mitchell Lama Cooperative in Manhattan.
We are adjacent to the area hard git by Hurricane Sandy. It is a miracle that we were not hit harder by the storm. AS it was, we were without heat, electricity and elevators for 5 days.
It seems that we would not be eligible for FEMA funds to aid in emergency repair in the case of a disaster such as this. I am one of 746 families living at EMP. EMP is a limited income Mitchell Lama coop and therefore limited in the amounts of money that can be absorbed by the shareholders.
I and my fellow shareholders would like you to push to reform the ‘Stafford Act’ to include coops such as EMP. We do not have the safety net available to other individual home owners. We pay our taxes and we have a right to the same protection.