FEMA forgives county’s Hurricane Katrina loan
by Associated Press
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.
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