| 00:00:14 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
SMALL BUSINESS ADMINISTRATION RESPONSE TO HURRICANE SANDY. THE PRESIDENT'S RECENT SUPPLEMENTAL REQUEST IN THIS SPACE AND STATE AND LOCAL SMALL BUSINESS...
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| 00:11:38 |
Vitter, David - U.S. Senator, [R] Louisiana
MAKE THREE POINTS BRIEFLY. FIRST OF ALL, AGAIN, I WANT TO EXPRESS MY REAL SYMPATHY FOR ALL THE VICTIMS OF SANDY. THIS WAS A HORRIBLE, DEVASTATING...
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| 00:14:45 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
CHAMPION FOR THE PEOPLE OF NEW JERSEY SO THANK YOU FOR JOINING US THIS MORNING. WE'RE HAPPY TO HEAR YOUR OPENING REMARK. >> THANK YOU FOR THE OPPORTUNITY...
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| 00:15:28 |
Menendez, Robert "Bob" - U.S. Senator, [D] New Jersey
EFFORT. MADAME CHAIR YOU AND SENATOR VITTER ARE NO STRANGERS TO NATURAL DISASTERS AND YOU HAVE BEEN AN IMPORTANT FRIEND AND ALL LIE IN UNDERSTANDING THE...
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| 00:19:12 |
Blumenthal, Richard - U.S. Senator, [D] Connecticut
AND IN CONNECTICUT AND NOT JUST THIS DISASTER BUT GOING BACK TO 2011 AND THE CATASTROPHE THAT CONNECTICUT SUFFERED WHEN YOU PERSONALLY CONTACTED ME AND...
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| 00:22:48 |
Cardin, Benjamin "Ben" L. - U.S. Senator, [D] Maryland
BUSINESSES AND FEMA, AND THE DEPARTMENT OF HOUSING ALL OF THOSE ARE CRITICALLY IMPORTANT FOR THE RECOVERY OF THE COMMUNITIES THAT HAVE BEEN SO DEVASTATED...
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| 00:25:38 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
TO SPEAK SECOND. I'M GOING TO ASK JAMES RIVERA TO SPEAK. BUT WE ASKED MICHAEL CHODOS TO BE HERE BECAUSE HE IS RESPONSIBLE FOR THE COUNSELING, MENTORING,...
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| 00:26:27 |
Rivera, James - Associate Administrator
ME TO DISCUSS THE EVERTSDZES IN RESPONSE TO SUPERSTORM SANDY AND OUR ROLE IN THE RECOVERY. WE APPRECIATE YOUR SUPPORT TO MAKE OUR COUNTRY BETTER...
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| 00:31:08 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
TESTIFY. SINCE SANDY STRUCK, S.B.A. HAS BEEN ON THE GROUND ACROSS THE REGION PROVIDING INDIVIDUALS AND BUSINESSES WITH INFORMATION, SUPPORT, AND ACCESS...
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| 00:31:28 |
Chodos, Michael - Associate Administrator
REBUILD, S.B.A. IS THERE FROM DAY ONE AND WE'LL STAY DEEPLY INVOLVED OVER THE LONG TERM. THAT IS WHY, IN ADDITION TO OUR DISASTER RESPONSE TEAM, OUR...
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| 00:35:43 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
KATRINA WAS A MORE EFFICIENT APPLICATION PROCESS. I WANT TO SUBMIT FOR THE RECORD THE TWO-PAGE DISASTER LOAN, THE ONE PAGE PERSONAL FINANCIAL STATEMENT,...
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| 00:40:57 |
Rivera, James - Associate Administrator
WE'RE STARTING TO GET AN INFLUX OF APPLICATIONS AND WE PROCESS WITHIN THAT TIME FRAME. BUT WE'RE CONFIDENT THAT WE'RE GOING BE ABLE TO GET THESE APPLICATIONS...
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| 00:44:42 |
Blumenthal, Richard - U.S. Senator, [D] Connecticut
SECTOR PRACTICE. WE WILL GENERALLY TAKE THE BUSINESS ASSETS AND IF THERE IS A RESIDENCE AVAILABLE WE'LL PICK UP THE RESIDENCE BUT AS PART OF THE PROPOSED...
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| 00:44:53 |
Rivera, James - Associate Administrator
PERSPECTIVE HOW THAT WORKS BUT WE DO FOLLOW PRIVATE SECTOR PRACTICES. >> WELL, WOULD YOU USE COLLATERAL OTHER THAN SOMEONE'S HOME? WOULD THAT BE A DEPARTURE...
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| 00:46:02 |
Risch, James "Jim" E. - U.S. Senator, [R] Idaho
THEY HAVE? >> I WILL HAVE TO GET BACK TO YOU ON THAT. I WILL SAY THE AVAILABILITY OF INSURANCE IS ONE OF THE KEY ITEMS OF INFORMATION THAT IS OBTAINED...
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| 00:46:25 |
Chodos, Michael - Associate Administrator
BROADLY, OUR RESOURCE PARTNERS WHO HELP STAFF THE RECOVERY CENTERS TAKE A HOLISTIC APPROACH WHEN A BUSINESS WALKS IN THE DOOR TO FIND OUT WHERE THEY...
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| 00:48:04 |
Rivera, James - Associate Administrator
BUT TO ME, THE MOST IMPORTANT THING AFTER A DISASTER IS THE INSURANCE POLICY. EVEN INSURANCE COMPANIES ARE BETTER THAN THE FEDERAL GOVERNMENT TO RESPONDING...
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| 00:49:21 |
Roll Tape
AND YOU FEEL COMFORTABLE WITH THEIR EXPERTISE? INSURANCE COMPANIES CAN BE SOMEWHAT DIFFICULT AT TIMES WHEN IT COMES TO CLAIMS. >> WE HAVE PRETTY GOOD...
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| 00:49:54 |
Risch, James "Jim" E. - U.S. Senator, [R] Idaho
LOOKS LIKE A PHONE BOOK, BUT I HAVE THIS IDEA OF KEEPING IT SIMPLE. BUT IT SEEMS TO ME YOU NEED MORE INFORMATION THAN WHAT YOU HAVE. GO BACK TO KATRINA....
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| 00:50:35 |
Rivera, James - Associate Administrator
SEEM TO ME THAT IT IS A CRITICAL QUESTION. CAN YOU GIVE ME A BALLPARK? >> I DON'T VENTURE TO GUESS, BUT WE CAN GET THAT INFORMATION FOR YOU. >> I AM DISAPPOINTED...
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| 00:52:37 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
A SIMPLE PROCESS. THERE IS ONE FROM THE INSURANCE, ONE FROM THE IRS, ANOTHER 22 02 THAT IS SCHEDULED TO FIX LIABILITIES. PLEASE LET US KNOW. THE INSURANCE...
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| 00:53:47 |
Risch, James "Jim" E. - U.S. Senator, [R] Idaho
REQUEST. >> IT CAME FROM THE WHITE HOUSE AND THE APPROPRIATIONS COMMITTEE. >> WHAT PART OF THAT WOULD BE ATTRIBUTABLE TO THIS JURISDICTION? >> ROUGHLY,...
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| 00:54:15 |
Chodos, Michael - Associate Administrator
THE ECONOMIC DEVELOPMENT, 10 MILLION FOR ADMINISTRATIVE EXPENSES. >> HOW MUCH OF THAT WILL LEVERAGE IN ADDITIONAL LOANS? >> APPROXIMATELY $4.5 BILLION...
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| 00:55:06 |
Risch, James "Jim" E. - U.S. Senator, [R] Idaho
I ASSUME THAT WE CAN GET IN TOUCH WITH YOU? WHEN SOMEONE APPLIES FOR A SMALL BUSINESS ADMINISTRATION LOAN, IS THE INSURANCE VETTED AT THAT TIME? >>
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| 00:55:23 |
Rivera, James - Associate Administrator
WHEN THE LOAN OFFICER GETS THE APPLICATION, THAT AS PART OF THE UNDERWRITING DUE DILIGENCE AS PART OF THAT PROCESS. >> ANYONE WITH A SMALL BUSINESS LOAN...
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| 00:57:40 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
TO THE PRIVATE SECTOR IN DEFAULT RATE. IT IS A MODEST SUBSIDY FOR THAT PROGRAM. RELATIVE TO THE LEVERAGE IT PROVIDES THE SMALL BUSINESSES, A LENDER...
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| 00:58:39 |
Panel Change
THANK YOU WILL, AND IF YOU COULD STAY AND LISTEN TO THE SECOND PANEL, I WOULD APPRECIATE IT. I THINK IT IS VERY IMPORTANT TO HEAR FROM THE MAYOR'S AND...
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| 00:59:02 |
Start
A CAREER ADVOCATE FOR PUBLIC PARKING SPACE AND HAS BEEN A SUCCESSFUL MAYOR DEDICATED TO FISCAL RESPONSIBILITY, PUBLIC-PRIVATE PARTNERSHIPS AND IMPROVING...
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| 01:00:41 |
Zimmer, Dawn - Mayor, [D] Hoboken
COMMITTEE MEMBERS. IT IS A PRIVILEGE AND HONOR TO BE HERE TODAY. HOBOKEN IS LOCATED JUST ACROSS THE RIVER FROM NEW YORK CITY AND IS THE HOME OF FRANK...
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| 01:06:04 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
WORKING ON SOME OF THOSE SUGGESTIONS. ALTHOUGH THE FLOOD INSURANCE IS NOT THE JURISDICTION OF THIS COMMITTEE, WE WILL LOOK AT THAT REQUEST AND FERRET...
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| 01:06:24 |
King, James - Director
SPEAK. SINCE THE STORM HIT, WE HAVE DONE LITTLE ELSE. OUR PREVIOUS EXPERIENCE, WE WERE AMONG THE FIRST RESPONDERS IN 9/11 FOR THE SMALL BUSINESS COMMUNITY....
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| 01:12:24 |
Law, Kevin - President and CEO
SENATORS, CHUCK SCHUMER AND KRISTIN GILLIBRAND. I'M THE PRESIDENT AND CEO OF THE LONG ISLAND ASSOCIATION, THE LEGAL BUSINESS ORGANIZATION IN THE METROPOLITAN...
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| 01:18:25 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
I WILL CALL ON HER FOR HER OPENING REMARKS, BUT LET ME START WITH YOU. AS YOU LOOK AT THE DESTRUCTION OF HOBOKEN AND YOU HAVE HOMEOWNERS, PUBLIC FACILITIES,...
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| 01:19:32 |
Zimmer, Dawn - Mayor, [D] Hoboken
AS I MENTIONED, THE CONCERN IS BASICALLY BUSINESSES AS MY FELLOW PANELISTS HAVE TESTIFIED TO, IN THIS ECONOMIC CLIMATE, THE RATE IS A CHALLENGE FOR BUSINESSES...
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| 01:22:22 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
YOU REFERRED TO 100,000 BUSINESSES. MY RECORDS SHOW 265,000 BUSINESSES IN NEW YORK, 189,000 IN NEW JERSEY NOT COUNTING CONNECTICUT, MARYLAND, SOME OF...
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| 01:22:45 |
King, James - Director
THERE ARE THE FIRMS THAT WE HAVE LOOKED AT FROM THE POPULATION INFORMATION THAT WERE IN THE PRIMARY DISASTER AREA. THESE ARE THE ONES THAT INCURRED THE...
|
| 01:28:02 |
Gillibrand, Kirsten E. - U.S. Senator, [D] New York
NOT HAVE ANY ECONOMIC RECOVERY. I DO WANT TO RECOGNIZE OUR NEW YORKERS. THEY HAVE BEEN AN UNBELIEVABLE ADEQUATE. IT REPRESENTS BOTH LARGE BUSINESSES...
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| 01:29:56 |
Zimmer, Dawn - Mayor, [D] Hoboken
THE FEEDBACK THAT WE GOT. >> IF YOU ARE A SUCCESSFUL BUSINESS, YOU'RE LOWEST INTEREST RATE IS 6%. >> PEOPLE HAVE SAID THEY CAN GET 1.6%, SO GOING AS LOW...
|
| 01:32:13 |
King, James - Director
THEY REPRESENT THE LARGEST RESOURCE OPPORTUNITY, SO WE WORK WITH THE STATE AND THE CITY SETTING UP THESE MICRO LOANS, THE RAPID RESPONSE LOANS RUNNING...
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| 01:34:26 |
Risch, James "Jim" E. - U.S. Senator, [R] Idaho
LITIGATING QUESTIONS ON INSURANCE POLICIES, SO I UNDERSTAND IT PRETTY WELL FROM BOTH SIDES OF THE TABLE. I WAS INTERESTED IN YOUR COMMENT ABOUT BASEMENTS...
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| 01:34:54 |
Zimmer, Dawn - Mayor, [D] Hoboken
THE BUREAUCRACY, I WOULD THINK, WOULD BE -- >> I HAVE BEEN ASKING ABOUT -- >> DO BUSINESSES HAVE INSURANCE? THERE ARE THOSE WITH FLOOD INSURANCE THAT...
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| 01:37:17 |
Risch, James "Jim" E. - U.S. Senator, [R] Idaho
YOU WERE CRITICAL OF THE FEDERAL GOVERNMENT'S RESPONSE, AND I AM NOT GOING TO CRITICIZE YOU FOR THAT. WHEN WE HAD ISSUES WITH THEM, TELL ME ABOUT YOUR...
|
| 01:37:42 |
King, James - Director
STATE HAS BEEN LOOKING AT JUST ABOUT EVERYTHING THAT IT CAN. ONE OF THE PROBLEMS THAT COMES ABOUT WHEN WE TALK ABOUT GRANTS, IT TENDS TO POSTPONE THE...
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| 01:41:56 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
YOUR PEOPLE TELLING YOU ABOUT THE IMPORTANCE OF THAT RECOVERY PACKAGE? >> IT IS EXTREMELY IMPORTANT TO THE CITY AND THE RESIDENTS. PEOPLE IMPACTED BY...
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| 01:42:40 |
Zimmer, Dawn - Mayor, [D] Hoboken
HOMES, IT IS SO IMPORTANT FOR THE LOCAL ECONOMY. >> ARE CARRIES AMPLE LOCAL GOVERNMENTS ARE DOING THEIR PART. THE PHILANTHROPIC COMMUNITY
|
| 01:42:54 |
Law, Kevin - President and CEO
IS DOING THEIR PART. UNLESS WE HAVE THE APPROVAL OF THE PROPOSED PACKAGE, WE ARE NOT GOING TO RECOVER. IT IS CRITICALLY IMPORTANT THAT WE HAVE THAT....
|
| 01:43:39 |
King, James - Director
WE ARE NOT LIVING UP TO OUR OWN EXPECTATIONS. >> THIS COMMITTEE WILL COME
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| 01:43:48 |
Landrieu, Mary - U.S. Senator, [D] Louisiana
TO AN END, BUT THE RECORD WILL REMAIN OPEN FOR TWO WEEKS. I THANK THE MEMBERS FOR SHOWING UP. MEETING ADJOURNED. [CAPTIONING PERFORMED BY NATIONAL CAPTIONING...
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| 01:44:05 |
End
NATIONAL CABLE SATELLITE CORP. 2012] >> SUSAN
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.