Cities, counties and school districts could save millions of dollars if federal loans they received after Hurricane Katrina are forgiven.
FEMA announced Friday that it has established a loan forgiveness program for government agencies that received money after Katrina and Rita.
Vice President Joe Biden also made the announcement Friday when he was visiting New Orleans.
“This administration continues to be deeply committed to do everything in our power to help New Orleans and the entire Gulf Coast not only restore their storied past, but build a better future,” Biden said. “Today’s loan forgiveness announcement is just another example of our common-sense approach to rebuilding the region.”