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Tennessee announces $100 million HEAL loans to bridge storm recovery costs
Summary
The state announced a $100 million, no-interest Helene Emergency Assistance Loan (HEAL) program to help disaster-declared East Tennessee counties front immediate costs for drinking water, wastewater repairs and dangerous debris removal while awaiting federal reimbursements.
The state announced on Monday a $100 million, no-interest loan program to help counties hit by recent tropical-storm flooding cover immediate costs for water, sewer and dangerous debris removal while they await federal reimbursement.
"It is a hundred million dollar no low no interest loan," said Speaker 1, who introduced the Helene Emergency Assistance Loan program, or HEAL, at an emergency-operations briefing. He said the fund is intended as an "interim strategy" to bridge a fiscal gap counties face when federal disaster reimbursements arrive slowly.
Under the plan, counties that are part of the disaster declaration are eligible for assistance; Speaker 1 listed Carter, Claiborne, Grainger, Greene, Hamblen, Hawkins, Jefferson, Johnson, Sevier, Sullivan, Unicoi and Washington counties. The administration said $65 million of the pool will target dangerous-debris removal for distressed and at-risk counties,…
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