RALEIGH, N.C. (QUEEN CITY NEWS) — Most of the $100 million in interest-free loans for Hurricane Helene relief is in the process of being delivered to local governments, State Treasurer Brad Briner announced Monday.
The General Assembly created the $100 million cashflow loan program as part of the controversial Senate Bill 382 , which passed in December. Its goal is to help local governments whose communities were devastated by Helene while they wait for federal money to arrive. Administration of the program was assigned to Department of State Treasurer.
The first round includes $74.5 million to be sent to 98 local governments in western North Carolina. The two highest recipients are Buncombe County ($8.4 million) and Chimney Rock Village ($7.7 million). Avery County is allotted for $1.9 million.
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“We had a big goal on a short deadline, and we are excited to announce that help is on the way,” Briner said in a statement. “(Head of Helene cashflow program) Jeff Poley and his team worked relentlessly to create the program from the bottom up, recognizing, as we all did, that the residents of Western North Carolina needed rapid resources to restore upended lives and rebuild neighborhoods.”…