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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Peavey's wellness program honored after workers drop 1,000 pounds
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Judge gets more time to fight efforts to remove him from office
- State renews battle over water use with city of Memphis
- Voters to decide whether hunting, fishing is constitutional right
- Coast cleanup nets 1,600 bags of trash — and a watermelon patch
- Mississippi Film Studios signs contract with New Orleans company