Lee County will be the recipient of a $25 million bridge loan to Lee County through the Local Government Emergency Bridge Loan Program.
The program was created in a Special Legislative Session earlier this year and is administered by the Florida Department of Economic Opportunity to support government operations that may have been impacted by hurricanes Ian or Nicole.
These funds bridge the gap for local governments while they await federal relief or for their revenues to recover after a natural disaster. The award adds to $11.9 million Governor DeSantis awarded to the Town of Fort Myers Beach through the Local Government Emergency Bridge Loan Program, bringing the total awarded in this program to nearly $37 million.
The Local Government Emergency Bridge Loan is a one-time $50 million appropriation to fund governmental operations within eligible Florida counties and municipalities between the time of the hurricane and the time additional funding sources or revenues are secured.
Counties and municipalities located in the Federal Emergency Management Agency disaster declarations for hurricanes Ian or Nicole may apply. A local government applying for a bridge loan must demonstrate that a hurricane may cause or has inflicted substantial loss of tax or other revenues. They must also establish the need for financial assistance to continue performing governmental operations.
DEO is accepting applications on a rolling basis until available funds are exhausted. Eligible applicants are encouraged to use this checklist to submit the required documentation and information via email to LocalGovernmentBridge@DEO.MyFlorida.com. For more information about the Local Government Emergency Bridge Loan Program, visit www.FloridaJobs.org/LocalGovernmentBridge.
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