Crescent City is rebuilding its harbor following the devastating 2011 tsunami. RCAC’s short-term $3.7 million gap loan and $8.1 million revolving line of credit keep the project afloat between federal and state disaster funding disbursements.
Repairing the harbor, a major commercial fishing port for both Del Norte County and Northern California, is urgent in a county with 13.5 percent unemployment and a median household income of $20,133. Two hundred jobs depend directly on harbor facilities, and another 100 jobs indirectly. RCAC financing is critical to restoring the local fishing and tourism industries.