The Lee County Board of Commissioners approved Bank of America to provide funding for a $150 million revolving line of credit for Hurricane Ian recovery and mitigation. The funding will provide cash flow for recovery and mitigation of damages, including debris removal, emergency response and replacement or repair of governmental property that was damaged or destroyed.
The decision comes after an Oct. 18 meeting where the board authorized the county manager to proceed with a bank selection for a line of credit not to exceed $500 million.
