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FRANK POWERS DIES

Frank Powers, the wealthy Wall Street retiree tapped to run for disgraced Rep. Vito Fossella’s congressional seat, died Sunday- send ing shock waves through the already reeling state GOP.

News of Powers’ fatal heart attack had many party insiders wondering if Fossella would change his mind and run again – but he quickly moved to quash the speculation.

“Congressman Fossella will not be seeking re-election,” said a Fossella aide.

Powers, a 68-year-old MTA board member, philanthropist and father of seven, died at home early Sunday, relatives said.

His wife, Diane Powers, the Staten Island GOP party treasurer, found him in bed and unsuccessfully tried to revive him, police said.

Brian Powers, 23, flanked by several of his siblings, read a statement on the steps of the family home in Todt Hill, thanking people for their support and asking for prayers for his father.

“As you can imagine, this is a very difficult time for our family,” he said.

Noticeably absent was Fran Powers, the pol’s Libertarian son, who had planned to run against his dad for the congressional seat.

Fossella dropped out of the race after he was arrested for drunk driving and caught living a double life with a mistress and baby daughter in Washington, DC.

Meanwhile, state party leaders expressed sadness at Powers’ passing and contemplated the future of the 13th congressional district, which encompasses Staten Island and parts of Brooklyn.

“It’s just terrible. Unfortunately, his family lost a good dad and husband and the party is left without a supporter and a candidate,” said Staten Island GOP Chairman John Friscia.

Several Republican leaders said that Powers wore a pacemaker and that his health once came up in a meeting about the November election.

“We need to meet within the next 24 hours” to see who’s going to get the nomination, said Craig Eaton, the Brooklyn Republican party chairman.

Party leaders need to move quickly because the deadline for their new candidate to collect signatures is July 10.

Staten Island City Councilman Michael McMahon has been endorsed by the local Democratic party but faces a primary challenge from Brooklyn attorney Steve Harrison.

Despite never holding elected office, Powers had a long history with the GOP, including serving as a finance chairman for Fossella’s campaigns.

He was an 11th-hour choice for the nomination after State Sen. Andrew Lanza refused to run.

However, he was an attractive option because he’d vowed to spend up to $500,000 of his personal wealth on the race.

Additional reporting by Sally Goldenberg

maggie.haberman@nypost.com