FINANCIAL_SERVICESAMENDED

Yancey County Board of Commissioners Meeting Agenda Packet 2026-03-09

Yancey County amends state disaster cashflow loans

$3,680,783.49 (Round 1); $2,428,779.00 (Round 2); $1,920,977.13 (Round 3)Yancey CountyNORTH CAROLINA DEPARTMENT OF STATE TREASURERMarch 9, 2026

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Description

Yancey County approved an amendment with the North Carolina Department of State Treasurer covering three existing State Cashflow disaster response loans totaling approximately $8 million. The amendment defers repayment until at least June 30, 2030 or later FEMA‑related triggers, while keeping the loans interest‑free and updating program conditions under recent state session laws.

Contract Details

Contract Amount

$3,680,783.49 (Round 1); $2,428,779.00 (Round 2); $1,920,977.13 (Round 3)

Vendor

NORTH CAROLINA DEPARTMENT OF STATE TREASURER

Agency

Yancey County, NC

Contract Type

FINANCIAL_SERVICES

Document Date

March 9, 2026

Contract Term

Repayment deferred until the latest of June 30, 2030; final declination of FEMA coverage/reimbursement; or receipt of FEMA reimbursement funds, then repaid on a schedule set by NCDST

Renewal Date

2030-06-30

Renewal Info

Amendment supersedes prior repayment schedules for Round 1, Round 2, and Round 3 loans; full outstanding balances become due only after the latest of June 30, 2030, final FEMA declination, or receipt of FEMA reimbursement, then repaid per a schedule determined by NCDST. Original loan principal amounts and interest‑free status remain in effect.

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