County looking to have FEMA disaster loan forgiven
by Associated Press
Published: March 13,2012
Tags: board of supervisors, county government, disaster, disaster recovery, federal government, hurricanes, loans, natural disaster, severe weather, storm surge, supervisors, tropical weather, Weather
JACKSON COUNTY — Jackson County supervisors are hoping that by changing the way the county assessed its Hurricane Katrina financial damage, it will succeed in having its FEMA loan forgiven.
FEMA offered the county up to $14 million after the storm as part of a special Community Disaster Loan. The county borrowed closer to $10 million.
Board president John McKay tells The Sun Herald more than $2 million of that has been forgiven, but the county still owes roughly $7.8 million, plus interest.
FEMA forgave similar loans for Hancock and Harrison counties.
McKay says if Jackson County is allowed to use the same accounting techniques of showing losses the other two Coast counties used, he thinks the remainder of its Katrina loan might be forgiven, as well.
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