Galveston gets to keep $5M federal loan for Ike repairs
POSTED: Friday, August 23, 2013 - 7:00am
UPDATED: Friday, August 23, 2013 - 1:25pm
Repayment of the loan - at a 1.75 interest rate - was to begin in 2014
Galveston, TX — The Houston Chronicle is reporting; The City of Galveston has received a generous gift from Washington, D.C.
The Federal Emergency Management Agency recently informed the city that it will forgive a $5 million community disaster loan the city received after Hurricane Ike hit in 2008.
To read more, head to The Houston Chronicle's website: http://www.chron.com/neighborhood/bayarea/news/article/Galveston-gets-to-keep-5M-federal-loan-for-Ike-4750224.php?cmpid=houtexhcat