66°
Baton Rouge, Louisiana
3 Day Outlook
Mon
78°
68°
80%
Tue
71°
53°
80%
Wed
73°
51°
10%

Latest Weather Blog

Follow our weather team on social media

Pascagoula has $5M in Katrina debt forgiven

9 months ago Thursday, July 03, 2014 10:12:39 AM CDT July 03, 2014 Thursday, July 03 2014 Jul 3, 2014 in News
Source: Associated Press

PASCAGOULA, Miss. - More than $5 million in loans approved for the city of Pascagoula after Hurricane Katrina in 2005 have been forgiven by the Federal Emergency Management Agency.

The city was notified of the decision this week.

After the storm, many businesses and services in Pascagoula shut down, causing the city to lose millions in tax dollars and spend millions in operating expenses. The FEMA loan was to replace some of those lost dollars.

City Clerk Bobby Parker says the original debt for the federal disaster loans was for $7.7 million.

The city has been making payments on the loans. Parker says it now owes a balance of about $2.4 million.

Parker says the money was used after Katrina on utilities and infrastructure, including streets, vehicles and repairs to public buildings.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
5 Days
Radar
Today
Partly Cloudy
92°
69°
Mon
T-Storms
78°
68°
Tue
AM T-Storms
71°
53°
Wed
Partly Cloudy
73°
51°
Thu
Mostly Sunny
78°
53°