Loan and grant developments today

- FEMA announces a new $750 million Special Community Disaster Loans Program today that is to make possible up to $1 billion in loans to local governments for disaster recovery. The publication (an interim rule with request for comments) is implementing S. 1858, the Community Disaster Loan Act of 2005, now Pub. Law 109-88. The briefly drafted new law went from introduction in the Senate to the President's signature on the same day, Oct. 7. In addition to authorizing the funds, it drops the Stafford Act's Sec. 417(c)(1) loan cancellation provision and lifts the $5 million cap on loan amounts. However, it restricts the loans "to assist local governments in providing essential services." Comments are due Dec. 19 and can be sent via the online rulemaking portals.

- The Small Business Administration sections of yesterday's and today's Federal Registers carry yet more disaster loan announcements for the Gulf Coast states, and FEMA defines new disaster and emergency areas in today's FR.

- The Corporation for Supportive Housing's "Homefront" newsletter notes its participation in creating "a $200 million initiative, the New York Acquisition Fund, to serve as catalyst for the construction and preservation of more than 30,000 units of affordable housing citywide in the next 10 years." More from NYC's city government over here.

- The major Gulf Coast power company Entergy is now accepting applications from nonprofits for $10,000 to $20,000 grants to help groups of hurricane victims with rebuilding. (Item via LISC).