$50M in bridge loans available for local governments impacted by Hurricanes Ian and Nicole
Florida's Local Government Emergency Bridge Loan Program has $50 million available for communities impacted by hurricanes Ian and Nicole.
Administered by the Florida Department of Economic Opportunity, the loan program helps local governments support government operations that may have been impacted by hurricanes Ian or Nicole, bridging the gap while they await federal relief or for their revenues recover.
This one-time $50 million appropriation is available to help fund governmental operations within eligible Florida counties and municipalities and bridge the gap between the time of the hurricane and the time additional funding sources or revenues are secured. “Governmental Operations” includes costs associated with continuing, expanding, or modifying local governmental operations to meet disaster-related needs and includes costs such as, but not limited to, staff salaries and payroll.
Counties and municipalities located in an area designated in the Federal Emergency Management Agency disaster declarations for Hurricane Ian or Hurricane Nicole are eligible to apply. An applicant must demonstrate that it may suffer or has suffered substantial loss of its tax or other revenues as a result of the hurricane and establish a need for financial assistance to enable it to continue to perform its governmental operations to be eligible. DEO is accepting applications on a rolling basis until available funds are exhausted.
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