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Communities impacted by March flooding may receive lost revenue assistance loans

7 years 2 months 2 weeks ago Tuesday, December 06 2016 Dec 6, 2016 December 06, 2016 5:14 PM December 06, 2016 in News
Source: WBRZ

BATON ROUGE – Local governments that were impacted by severe weather in the spring may now be eligible for federal loans if they have revenue shortfalls.

FEMA's Community Disaster Loan Program may provide loans of up to $5 million to eligible applicants who lost more than five percent of their revenue due to the March flooding.

The program may provide lost revenue to the following local government entities in Louisiana:

- city and parish governments

- school districts

- fire and law enforcement districts

- sewer and water districts

The parishes impacted by the August flooding were previously approved for the program.

Local government in the following parishes impacted by the March flooding are eligible to apply:

Allen, Ascension, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Caldwell, Catahoula, Claiborne, De Soto, East Carroll, Franklin, Grant, Jackson, La Salle, Lafourche, Lincoln, Livingston, Madison, Morehouse, Natchitoches, Ouachita, Rapides, Red River, Richland, Sabine, St. Helena, St. Tammany, Tangipahoa, Union, Vernon, Washington, Webster, West Carroll and Winn.

Loan terms are five years, however they may be extended for 10 years. The loans can not be used for the non-federal cost share of disaster grants, capital projects or to repair or restore damaged public facilities.

Those interested may apply through the Governor's Office of Homeland Security and Emergency Preparedness.

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