Release Date: December 7, 2005
Release Number: 1603-206
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BATON ROUGE, La. -- The U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA) disbursed $2.5 million to the Orleans Parish Criminal Sheriff Department. The funds are the first payment in an $18 million Community Disaster Loan (CDL) FEMA has made to the Orleans Parish Criminal Sheriff. These funds will be used to assist the Orleans Sheriff in providing services to the community as it recovers from Hurricane Katrina.
"Community Disaster Loans are a valuable tool to help communities maintain essential services in the aftermath of a disaster. With this disbursement, FEMA is helping ensure the safety and security of New Orleans, so the recovery process can continue," said Federal Coordinating Officer Scott Wells. FEMA is collaborating with communities throughout the Gulf Coast to speed the loan application process and send much-needed money to affected areas.
To date, FEMA has approved more than $225 million in Community Disaster Loans in Louisiana. FEMA is working with approximately 60 potential applicants in Louisiana on their loan applications. Once FEMA approves a CDL application, the applicant must sign promissory notes as well as collateral security and other documents. Once those documents are received by FEMA, funds can be transferred to the applicant's account.
In October, Congress passed the Community Disaster Loan Act of 2005, which authorizes up to $1 billion for loans to "assist local governments in providing essential services." Loans can be made to any local government in need of financial assistance to perform essential services. CDL applicants include fire and police departments that provided critical community services during and in the immediate aftermath of the hurricanes, as well as school boards, district court offices and local parish governments.
For more information about Community Disaster Loan efforts, visit www.fema.gov/rrr/pa/fs_cdl.shtm .
FEMA prepares the nation for all hazards and manages federal response and recovery efforts following any national incident. FEMA also initiates mitigation activities, trains first responders, works with state and local emergency managers, and manages the National Flood Insurance Program
Last Modified: Thursday, 08-Dec-2005 09:46:21