Georgia officials agree to spend $100 million on Hurricane Helene aid for farms and forestry
Georgia’s state government is diverting $100 million to spend on loans to farmers and cleanup after Hurricane Helene
ATLANTA — Georgia's state government is diverting $100 million to spend on loans to farmers and cleanup after Hurricane Helene.
The Georgia State Financing and Investment Commission voted unanimously Friday to spend the money, which had been set aside for construction projects or paying off existing debt.
Officials last month estimated that the storm, which caused extensive damage in the eastern half of the state after a Sept. 26 landfall in Florida, caused $6.46 billion in economic losses in the state's agriculture and forestry industries.
Cotton, pecan and chicken farmers took severe losses, as did owners of private timberlands. Lt Gov. Burt Jones and others have called the damage a “generational loss.”
The Georgia Development Authority, a state agency that lends money to farmers, will get $75 million to provide disaster relief loans to farmers and associated businesses in the agricultural industry. The other $25 million will be spent to clean up timber losses and other debris, said Garrison Douglas, a spokesperson for Gov. Brian Kemp.
Because Georgia has been flush with surplus cash, it has been paying for construction projects using cash, instead of the traditional method of selling bonds to borrow money. The $100 million was being held for future spending, but it hadn't been allotted to any project that is already underway, Douglas said.
Because Georgia ended last year with a $2 billion surplus, lawmakers may be able to replace the $100 million when they amend the current budget during the 2025 legislative session that begins in January.
The state did not spend similar money after 2018's Hurricane
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