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County approves participation in Round 3 of Helene cashflow loan program
Summary
Cleveland County approved participation in Round 3 of North Carolina’s Helene Cashflow Loan Program and associated budget amendments, authorizing execution of loan documents for approximately $507,228.22 in bridge funding tied to FEMA reimbursements.
Cleveland County commissioners unanimously approved Sept. 16 a resolution and related budget amendment to participate in Round 3 of North Carolina’s Helene Cashflow Loan Program, a state-administered, interest-free bridge loan program to help local governments finance Hurricane Helene cleanup while awaiting federal reimbursements.
The finance presentation requested $507,228.22 in loan-related budget authority; staff advised repayment is triggered by FEMA reimbursement and is likely in FY26. The board approved the Helene Loan Resolutions and directed staff to coordinate federal reimbursement strategy and accounting with guidance from state associations.
The program requires formal board approval to apply and execute loan documents; Cleveland County previously participated in Rounds 1 and 2 and members said continuing participation will maintain liquidity for recovery efforts.
