FEMA forgives county’s Hurricane Katrina loan
Published: June 11,2012
Tags: borrowing, borrowings, county government, debt, disaster, disaster recovery, emergency management, federal agency, federal government, hurricanes, loan, loan forgiveness, loans, natural disastewr, severe weather, tropical storms, tropical weather, Weather
JACKSON COUNTY — The government has forgiven $10.5 million that Jackson County borrowed after Hurricane Katrina from FEMA’s Community Disaster Loan program.
The Sun Herald reports the announcement came today during the county board of supervisors’ meeting.
Over the years, the debt had grown to $12.6 million with interest. In a previous round of consideration, FEMA forgave $2.8 million.
Since then the county changed the way it assessed its Hurricane Katrina financial damage.
FEMA has forgiven similar loans for Hancock and Harrison counties.
After Katrina, FEMA offered the county up to $14 million as part of a special Community Disaster Loan. It borrowed $10.5 million and has not repaid that or the interest.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- (UPDATE) Prison won’t interrupt ex-prison chief’s retirement cash flow
- 2014 a good year for filmmaking in Mississippi
- JOSH MABUS — Inbound marketing is fueled by wishful thinking
- MARTIN WILLOUGHBY — Doug Dale’s self-awareness helps lift him to top of his game
- PHIL HARDWICK: When Bill Cooley talks, people listen
- Ex-prison boss and businessman admit to bribery scheme
- MBJ Business Woman of the Year Top 10
- ASA postmortem: industrial recruiting is a constant cycle of death and life
- Kemper plant employee gag order continued