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City reports $12 million state cash-flow loan to cover recovery reimbursements, bringing total state loans to nearly $17 million
Summary
Assistant City Manager Ben Woody told council that the city has received a third state cash-flow loan related to recovery—"just over $12,000,000"—bringing cumulative state cash-flow loans to just under $17,000,000. The loans are 0% interest bridge financing intended to cover expenses until FEMA public assistance reimbursements arrive.
Assistant City Manager Ben Woody told the City Council during the Sept. 4 agenda briefing that the city has received a third state cash-flow loan related to recovery, "just over $12,000,000," bringing the total of the city's state cash-flow loans to “just under…
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