FEMA Forgives Gulfport’s $16M Disaster Loan
The Federal Emergency Management Agency has agreed to forgive a $16.4 million loan that Gulfport, Miss., received after Hurricane Katrina slammed into the Gulf Coast in 2005.
The Sun Herald reports that Mayor Billy Hewes notified Gulfport city council members about FEMA’s decision.
Gulfport had been setting aside money to repay the community disaster loan. Hewes says he and council members will discuss how that money can be used to cover other city expenses.
Gulfport and other Gulf Coast municipalities had previous loan-forgiveness requests denied before FEMA changed its rules in the aftermath of Hurricane Sandy, which devastated parts of the East Coast in 2012.
A letter from a FEMA official said Gulfport had demonstrated that the city incurred a total loss of nearly $30 million from Katrina.
- Apollo Accused in Lawsuit of Illegal Human Life Wagering Scheme
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- EPA Designates PFAS Chemicals as Superfund Hazardous Substances
- 4,800 Claims Handled by Unlicensed Adjusters in Florida After Irma, Lawsuit Says
- California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme
- Property Restoration Industry: A Culture in Need of Repair?
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting