Thursday January 05, 2017 07:40 am - 2393 Views - Posted By Recovery Assistance & Mitigation Planning
Call for Applications for Rental Elevations
Terrebonne Parish has been informed by the Governor’s Office of Homeland Security and Emergency Preparedness (GOHSEP) that $1.6M in Federal Emergency Management Agency (FEMA) Hazard Mitigation Grant Program (HMGP) funding from Hurricane Gustav may be available to the Parish.
This funding will be earmarked for rental properties that are and have been used as single family year-round rentals or leases. This is an additional service beyond the residential elevations that have been funded with the Gustav FEMA HMGP funding.
Changes in the National Flood Insurance Program have put pressure on the rental market that serves the workforce and low to moderate income families. Rentals used as primary residences are considered second homes just like a vacation home that is used here and there throughout the year. This program aims at improving the safety and quality of life for these renters. There is an upfront cost to the owners that is difficult for many homeowners to bear, but may be a smart investment for a landlord.
The program will require a 25% match, and only properties that have been flooded repeatedly will be considered. The standard selection criteria will be in place should the demand be greater than the funding available. The structures with the most storms, the most damage, that are the most cost effective, and that serve the most people will take priority among other criteria.
The applicant must be the owner, and not the renter. Contact the Planning Department Recovery Assistance and Mitigation Planning (RAMP) Division for an application and more details.
985-873-6565 : 8026 Main Street, Second Floor, Houma, LA 70360