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Council sets up $2.5M Memphis Emergency Loan and $260K resident relief pool for shutdown aid
Summary
The council established a $2.5 million seed forgivable loan fund for nonprofits and allocated $260,000 from council grants for direct resident relief in response to the federal government shutdown, with reporting and oversight requirements spelled out.
The Memphis City Council unanimously passed a resolution Nov. 4 to create the Memphis Emergency Loan/Forgivable Loan Fund to provide immediate local relief to organizations and residents affected by the 2025 federal government shutdown.
Council sponsor described the fund as a council-created, standing emergency fund seeded with $2,500,000 from council reserves. The resolution sets the loans as 0%…
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