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Lake Lure authorizes application for up to $1.96 million FEMA community disaster loan
Summary
Council approved a resolution authorizing the Town Manager to apply for and, if awarded, accept a FEMA Community Disaster Loan (CDL) of up to $1,962,872 to help bridge recovery-related cash flow after Hurricane Helene, primarily to address recreational revenue losses.
Council authorized the Town Manager to seek a FEMA Community Disaster Loan up to $1,962,872 to support recovery cash flow and operations affected by Hurricane Helene. Town Manager Olivia Stewman told council that FEMA has concluded the town is eligible for the loan amount and that the funds would primarily address recreational revenue losses from the storm.
"FEMA has now concluded that we are eligible for an amount of $1,962,872," Stewman said during the meeting. The resolution (No. 26-06-09B) does not obligate the town to accept funds; it authorizes application and acceptance if awarded and was approved unanimously by council.
