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Tuesday, October 25, 2016

Katrina-Damaged Businesses Can Apply for Navy Funds

September 14, 2006

According to Defense News, shipbuilders and other companies who do business with the U.S. Navy and are still dealing with the effects of Hurricane Katrina can begin applying for their share of at least $140m in new government aid. Unlike previous funds allocated by the Navy to repair or replace government-owned equipment and facilities damaged by the storm, the new funds are meant to help companies make infrastructure improvements and repairs to get them back on an even keel as quickly as possible. Congress and the president approved the funds this summer in the fourth Katrina supplemental bill to help shipbuilders rebuild their own property. The issue was hotly debated on the Hill and strongly opposed by the Navy. But the Navy has dropped its objections and now is working to implement distribution of the money. A Web site for those seeking information about who is eligible for the funds and containing instructions on preparing a request can be found at Etter said in the memorandum that by Nov. 4 — 60 days from her message — Naval Sea Systems Command will issue an announcement on the Web site for interested and qualified businesses to submit their requests to receive funds under the program.

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