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FOR IMMEDIATE RELEASE
September 14, 2006

 

GRANTS APPROVED TO AID LOCAL GOVERNMENTS

 

(Jackson, Mississippi )- Governor Haley Barbour and the State Bond Commission today approved grants that will assist local governments in providing essential services on the Mississippi Gulf Coast.

 

Grants awarded through the Emergency Aid to Local Governments Loan and Grant Program (LEAP), will be provided to governmental entities that have demonstrated a projected revenue loss that is equal to or exceeds 25 percent of their revenue.

 

“These grants come at a time when the hardest hit governments by Hurricane Katrina could face severe cuts in services to its citizens,” Governor Barbour said. “It’s important to note that these are grants and not loans, so the local governments do not have to repay the funds,” Barbour continued.

 

The governments receiving grants approved today by Governor Barbour and the State Bond Commission include:

 

Bay St. Louis - $3 million
Hancock County - $3 million
Waveland - $3 million
Moss Point - $3 million
Long Beach - $3 million
Pass Christian $2,455,506
Total - $17,455,506

 

Funding for the LEAP grants is made possible through the issuance of Gulf Tax Credit Bonds as authorized by the Gulf Opportunity Zone Act of 2005 and interest and earnings on the Hurricane Disaster Reserve Fund. Entities should receive their grants within 24 hours.