Briefly, FEMA has announced a loan forgiveness program for government agencies that received money after Hurricanes Katrina and Rita. Under the new regulations, local governments that received Community Disaster Loans from FEMA can apply to have all or part of the loans erased if its revenues in the 36 months after the two major storms were insufficient to meet budget requirements.
More news on this as we receive updates.
“Fema May Forgive Some Coast Loans”, via the Sun Herald.