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Haywood commissioners approve state "bridge" loan to cover disaster recovery cash shortfall
Summary
The Haywood County Board of Commissioners unanimously approved a consent-item to accept a Round 3, 0% state bridge loan of $998,885.37 to help cover disaster-related costs while FEMA and other reimbursements are pending; county staff said the loan must be repaid by June 30, 2030 unless later forgiven.
Haywood County commissioners on Sept. 2 approved, as part of the consent agenda, accepting a Round 3 state bridge loan of $998,885.37 intended to help the county carry disaster-related costs until federal and state reimbursements arrive. The board voted unanimously to adopt the consent agenda, which included the loan item.
The loan, described by county staff as a short-term cash-flow measure for recovery work, carries 0% interest and must be paid in full by June 30, 2030 unless the General Assembly later forgives the balance. "There is no prepayment penalty. The loan has to be paid in full by 06/30/2030. Also, this…
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