Thousands of Southern Tier residents whose homes, businesses and other property were damaged in the Flood of ’06 are about to start maneuvering through the simple but potentially frustrating process of applying for federal and state assistance.

Attached is a step-by-step guide for businesses to make the process go smoothly.

New York State Grant Application Program Description

The state of New York will give individuals and businesses a grant of up to $5,000.  The grant does not have to be repaid and can be used for rebuilding your home or other flood losses not covered by insurance or other government programs.

See attached file for more details.

The Small Business Administration (SBA) is the primary source of federal funds for long-term recovery assistance for disaster victims. The SBA has low-interest disaster loans for homeowners, renters and non-farm businesses to cover disaster damage to real and personal property.

See attached file for more details.

A step-by-step approach to emergency planning, response and recovery for companies of all sizes.

See attached file for guide.

Applicant's guide to the Individuals & Households Program.

See attached file for guide.

This workbook is designed to help you figure your loss on business and income-producing property in the event of a disaster, casualty, or theft. It contains schedules to help you figure the loss to your office furniture and fixtures, information systems, motor vehicles, office supplies, buildings, and equipment. These schedules, however, are for your information only. You must complete Form 4684, Casualties and Thefts, to report your loss.

See attached file for 584B

• Definitions of a casualty, theft, and loss on deposits.
• How to figure the amount of your gain or loss.
• How to treat insurance and other reimbursements you receive.
• The deduction limits.
• When and how to report a casualty or theft.
• The special rules for disaster area losses.

See attached file for 547.

Use Form 4684 to report gains and losses from casualties and thefts.  Attach Form 4684 to your tax return.

See attached file for 4684.

A toolkit that puts at your disposal the disaster planning and recovery expertise of the Institute for Business & Home Safety (IBHS) designed for small to mid-sized businesses.

See attached file for toolkit.

A guide for the small business owner following a disaster from the Institute for Business & Home Safety (IBHS).

See atached file for brochure.

Empire State Small Business Flood Recovery Grant Program

Has your business been physically damaged by the floods that have devastated parts of New York State?  If so, Empire State Development has established a program that could help you recover. The Empire State Small Business Flood Recovery Grant Program offers grants of up to $20,000 to eligible firms. These grants will help cover costs related to cleanup, repair and replacement of property, equipment and inventory.

See attached file for more information.

For more information on flood recovery assistance, contact Empire State Development, 1 (800) STATE NY or FloodGrantProgram@empire.state.ny.us

Empire State Small Business Flood Recovery Grant Program Application Form

See attached file for Application Form.

For more information on flood recovery assistance, contact Empire State Development, 1 (800) STATE NY or FloodGrantProgram@empire.state.ny.us

Shared Work Program

Shared Work is a voluntary program that provides employers facing a temporary decline in business with an alternative to layoffs. Rather than laying off a percentage of the work force to cut costs, an employer can reduce the hours and wages of all or a particular group of employees. The employees whose hours and wages are reduced can receive partial unemployment insurance benefits to supplement their lost wages.

See attached file for more information.

See attached file for application.

See attached file for form.

CRISIS MANAGEMENT PREPARATION FOR BUSINESSES:  Hindsight-Perspective-Insight-Planning

See attached Insurance Issues Handout
See attached Tax Issues Handout

Nearly 140 people filled the ballroom at The Binghamton Club on July 20 to attend a program that covered many important issues related to the recent flooding, such as: Tax and Insurance issues and incentives, Coping with the aftermath and Crisis management planning and preparedness.

On behalf of the Greater Binghamton Chamber of Commerce, we would like to recognize some very generous groups and individuals that contributed to the success of this event. We would like to thank the full membership of the Small Business Council Executive Committee and Program Committee for organizing this essential program.  In particular, we would like to recognize the leaders of these dynamic group including: Mike Paley, SBC Chair; Jon Sarra, SBC Vice-Chair; Diane Wittner, SBC Program Committee Chair; and Tina Fernandez, SBC Program Committee Vice-Chair.  This program would not have been possible without the committee’s quick response and dedication. We would also like to express our sincere appreciation to the Sponsors of that seminar.  The program & complimentary continental breakfast was made possible by the generous support of: Davidson Fox & Company, LLP; Hawkins Homes, Inc.; Haylor, Freyer & Coon, Inc.; Loomis Tax Service, LLC; M & T Bank; Morgan Stanley; NBT Bank; Sacco Eye Group; and The UPS Store. 

Lastly, we would like to thank the presenters for agreeing to share their knowledge and experience with us.  They include: Wendy Loomis, EA, ATA, Owner, Loomis Tax Service, LLC; Catherine Maliwacki, CPA, Partner, Davidson Fox & Company, LLP; David Twomey, Consultant, Haylor, Freyer, & Coon, Inc.; Amy Leach and Sandy Witte, Volunteers, American Red Cross; LeRoy W. Flohr, Community Relations Officer and Area Field Office Director, FEMA; Manny Toro, Community Relations Field Officer, FEMA; and Brett Chellis, Communications Supervisor, Broome County Office of Emergency Services.  Their extraordinary range of expertise will continue to assist our community not only in rebuilding, but pro-actively planning for the future.

The tax and insurance handouts from this seminar are available to download above.