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TLDA reports loan forbearance requests and plans for SRF emergency grants after Hurricane Helene
Summary
TLDA staff reported three utilities affected by Hurricane Helene have requested loan forbearance; the authority plans to apply for SRF emergency response grants in July and expects to receive approximately $55 million for affected entities.
At its May 19, 2025, meeting, the Tennessee Local Development Authority received a staff report on utilities seeking loan forbearance after Hurricane Helene and on TLDA planning to apply for SRF emergency response grant funds.
"We did provide loan forbearance option for hurricane Helene affected utilities, and we had 3 utilities participate in that," Miss Jones, TLDA staff, told the board. Jones said Irwin Utility Authority requested forbearance on eight loans — one wastewater loan and seven drinking-water loans — and that the town of Perritsville requested forbearance for two wastewater loans. White Pine, which has not started projects, requested forbearance on one clean water loan and one drinking-water loan.
Jones said TLDA will host a webinar for utilities to discuss SRF Helene emergency response cap grants and that staff anticipates applying in July. "We should receive about $55,000,000 for those entities," Jones said. The webinar mentioned at the meeting was described by staff as an informal conversation; staff offered to extend invitations to board members for both the informal session and the later official announcement.
Board members requested staff share the webinar information so staff and board can attend; no formal action or vote was taken on the grant application or the forbearance arrangements during the meeting.
