WASHINGTON D.C. – Senator Tom Harkin (D-IA) today announced that the Iowa Lakes Electric Cooperative has been awarded $1,642,500 from the Federal Emergency Management Agency’s (FEMA) Hazard Mitigation Program (HMP). The funds will be used to replace and strengthen 76.4 miles of electrical distribution lines to better withstand the effects of storms in Buena Vista and Pocahontas counties.
Harkin was the chief sponsor of legislation that greatly expanded FEMA’s HMP following the floods of 1993. The program provides grants to states and local governments to implement long-term hazard mitigation measures after a major disaster declaration. The purpose of the HMP is to reduce the loss of life and property due to natural disasters and to enable mitigation measures to be implemented during the immediate recovery from a disaster.
“Structural improvements that provide reliable, affordable electricity contribute to the economic development of these rural communities and the quality of life for the residents that they serve,” said Harkin. “I congratulate the Iowa Lakes Electric Cooperative on this federal grant and look forward to the improvements it will generate.”
I just do not understand why taxpayers are required to fund these utility’s that are making millions in profits. What ever happened to businesses investing in their own company. When did running some of these businesses become risk free. Next year this utilty will be asking for a rate increase just like Alliant does.
Leave it up to ol’ Tom to jump out in front of yet another give a way of taxpayer dollars and claim political credit.
Why couldn’t Iowa Lakes create a reserve out of its own earnings for this need?