Mayor Dawn Zimmer just testified this morning at 11am before the U.S. Senate Committee on Small Business & Entrepreneurship on Thursday, December 13th. She discussed the impact Hurricane Sandy has had on Hoboken and the challenges still faced with the recovery process. She is scheduled to meet with Members of Congress to highlight the unmet needs of businesses and residents later today.
In her testimony before the U.S. Senate Committee, Mayor Dawn Zimmer said that overall Hoboken sustained at least $100 million in damages. She said that many small business owners in Hoboken estimate that their business is down up 60% due to decrease in traffic caused by the Hoboken PATH station being closed. She further added that the "insurance gauntlet" does not address urban needs. She stated that FEMA's definition of basements does not reflect urban realities of communities such as Hoboken and New York City. She said it is unfair to require small businesses to pay into a Flood Insurance system that does provide adequate coverage or no coverage at all. She concluded by asking the Senate Committee to find other ways to help small business owners such as express grants, or lower interest rates.
The meeting is going on as of 11:35 am (Dawn Zimmer is being questioned by Senate Committee), Link below:
Hurricane Sandy: Assessing the Federal Response and Small Business Recovery Efforts
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