Jefferson Parish Receives $15.4 Million Community Disaster Loan Payment from FEMA
Release Date: February 15, 2006
Release Number: 1603-347
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BATON ROUGE, La. -- The U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA) disbursed $15.4 million to Jefferson Parish. The funds are the first payment in a $52 million Community Disaster Loan (CDL) FEMA has made to the parish. These funds will be used to assist Jefferson Parish in providing essential government services 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 communities in Jefferson Parish recover," 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 in Louisiana, FEMA has approved more than $500 million in Community Disaster Loans and has disbursed more than $200 million. 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 manages federal response and recovery efforts following any national incident. FEMA also initiates mitigation activities, works with state and local emergency managers, and manages the National Flood Insurance Program. FEMA became part of the U.S. Department of Homeland Security on March 1, 2003.
Last Modified: Thursday, 16-Feb-2006 08:57:06