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Repayment of state recovery loans offered to Ellicott City businesses after floods deferred until 2021

The Maryland Department of Housing and Community Development granted a deferral request this week from Howard County Executive Calvin Ball for repayment of Ellicott City recovery loans.

The recovery loans that were offered to Ellicott City businesses after the catastrophic 2016 and 2018 floods will now be due September 2021 instead of this September.

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“During these unprecedented economic times, our administration is committed to providing the necessary relief for our small businesses to weather this pandemic,” Gov. Larry Hogan said in a statement May 12. “These loan deferrals will help support Main Street Ellicott City businesses in their recovery and ensure they can reopen their doors when it is safe to do so.”

According to the county, many local businesses took advantage of recovery loans through the Maryland Department of Housing and Community Development to rebuild after the 2016 flood; when the 2018 flood swept through, many business owners were forced to do so again.

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“Like business across Maryland, the businesses in Ellicott City are facing an uncertain future that is exasperated by the debt load they are carrying because of the 2016 and 2018 floods,” Ball said in a statement.

Ball requested and received a deferral on repayment of the loans in 2019 as well.

It’s been nearly a year since Ball proposed his $140 million flood mitigation plan that is expected to take five years to complete. There’s no clear timeline as to when the county will start implementing the plan.

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