Georgia’s state authorities is diverting $100 million to spend on loans to farmers and cleanup after Hurricane Helene.
The Georgia State Financing and Funding Fee voted unanimously Friday to spend the cash, which had been put aside for building tasks or paying off present debt.
Officers final month estimated that the storm, which triggered intensive injury within the jap half of the state after a Sept. 26 landfall in Florida, triggered $6.46 billion in financial losses within the state’s agriculture and forestry industries.
Cotton, pecan and hen farmers took extreme losses, as did house owners of personal timberlands. Lt Gov. Burt Jones and others have known as the injury a “generational loss.”
Hurricane Helene disrupts Georgia’s harvest
As we proceed to trace Hurricane Helene’s affect throughout Georgia, FOX 5 Streaming Host Ariyl Onstott did some digging on how the storm disrupted the state’s agriculture trade throughout harvest season.
The Georgia Improvement Authority, a state company that lends cash to farmers, will get $75 million to offer catastrophe aid loans to farmers and related companies within the agricultural trade. The opposite $25 million might be spent to wash up timber losses and different particles, stated Garrison Douglas, a spokesperson for Gov. Brian Kemp.
As a result of Georgia has been flush with surplus money, it has been paying for building tasks utilizing money, as a substitute of the standard methodology of promoting bonds to borrow cash. The $100 million was being held for future spending, however it hadn’t been allotted to any undertaking that’s already underway, Douglas stated.
As a result of Georgia ended final 12 months with a $2 billion surplus, lawmakers could possibly change the $100 million after they amend the present price range in the course of the 2025 legislative session that begins in January.
The state didn’t spend related cash after 2018’s Hurricane Michael. Helene’s injury to agriculture has been estimated as greater than twice as pricey as Michael. The sooner storm was adopted by a federal battle over assist that delayed assist to farmers. Georgia itself spent greater than $470 million on loans and restoration after Michael.
“That is one thing we discovered we may do,” Douglas stated of the $100 million. Kemp and different state leaders say they’ll contemplate extra aid each when the Common Meeting meets in January, in addition to by means of administrative measures earlier than then.
“We’ll proceed to work with stakeholders on all ranges to direct assets and help to the hardworking Georgians devastated by this storm,” Kemp stated in a press release Friday.
Kemp, Georgia state Home Speaker Jon Burns and others have been urging Congress to behave rapidly on a aid bundle for Hurricanes Helene and Milton. They’re asking Congress to present block grants to states that the states can then give to farmers for restoration functions. Burns is urging related block grants that states may spend to restore broken infrastructure and assist personal companies and residents.
“This measure will present vital monetary aid to farmers and foresters as we proceed to work alongside our federal companions to safe each obtainable asset and useful resource for the Georgians impacted by this catastrophe,” Burns stated in a press release.
The Federal Emergency Administration Company stated Thursday that it has already spent $1.3 billion on direct assist to individuals following Helene and Hurricane Milton. FEMA has spent greater than $1.1 billion on particles removing and emergency protecting measures.
Georgia’s authorities itself can’t give direct assist to individuals and personal companies as a result of its state structure bans what it calls gratuities — what most individuals would name items. Georgia Agribusiness Council President Will Bentley advised a state Senate committee on Monday {that a} constitutional modification is required to permit direct catastrophe assist.
In addition to Kemp, Burns and Jones, different fee members who voted for the spending included state Auditor Greg Griffin, Lawyer Common Chris Carr, Agriculture Commissioner Tyler Harper and state Treasurer Steve McCoy.
The Georgia Improvement Authority is scheduled to satisfy Monday in Macon to start spending the $100 million.
