Archive for January, 2011

End of earmarks threatens levee repairs in metro-east

Monday, January 31st, 2011

Belleville News-Democrat
January 30, 2011
By Mike Fitzgerald

Vowing to wield a fierce budget ax, the new Republican leaders of the U.S. House right away cut out federal earmarks — the spending bills that pay for lawmakers’ pet projects.

But that could mean big problems for metro-east leaders seeking White House aid to pay for an estimated $180 million worth of federally mandated flood levee repairs in Madison, St. Clair and Monroe counties.

With the federal earmark spigot shut off, Rep. Jerry Costello, D-Belleville, is now reaching out to the President Barack Obama…more

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Costello vows to keep pushing levee bill

Tuesday, January 25th, 2011

Alton Telegraph
January 22, 2011
By Steve Whitworth

WASHINGTON – Although he no longer serves in the majority party in the U.S. House, U.S. Rep. Jerry Costello said he hopes to win passage in the 112th Congress for his legislation to help rebuild the Metro East’s levees along the Mississippi River…more

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FEMA Flood Maps put Businesses, Leaders on Guard

Thursday, January 13th, 2011

St. Louis Business Journal
January 7, 2011
Mary Ellen Dwyer

Janet Helmkamp, owner of Bethalto, Ill.-based Helmkamp Automotive, stands to lose a lot of money and a lot of business if the Federal Emergency Management Agency (FEMA) gets its way. FEMA wants to enact new flood maps that would require companies and individuals with federally insured mortgages in three counties of Southwestern Illinois to buy pricey flood insurance.

Read more: FEMA’s flood maps put businesses, leaders on guard | St. Louis Business Journal…more

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$100 Million in Bonds to Fund Levee Improvements

Thursday, January 13th, 2011

St. Louis Business Journal
January, 7, 2011
Mary Ellen Dwyer

The Southwestern Illinois Flood Prevention District Council (FPDC) has been working with investment banking firm Morgan Keegan & Co. to sell bonds to pay for improvements to the area levees. Through Morgan Keegan and part of the federal stimulus plan called Build America Bonds (BAB), $100 million in bonds were sold in September and October for the project. It is the first major wave of financing that will fund levee improvements, with construction scheduled to start this spring…more

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