Today, Nov. 15, Gov. John Bel Edwards announced a second grant agreement with the U.S. Department of Housing and Urban Development to help recovery from Louisiana’s devastating 2020 to 2021 storms.
The agreement signed by Louisiana Division of Administration will give a $1.27 billion line of credit to help recovery efforts from Hurricane Ida and the severe storms of May 2021. It will also extend a $450 million line of credit for the impacts from Hurricanes Laura and Delta.
With other funding granted by HUD from the Ukraine Supplemental Appropriations Act 2023, the total amount of funding totals $3.1 billion for the 2020 and 2021 storms.
In a media release, Gov. Edwards said, “Louisiana was hit hard over the last two years, and with access to this new federal recovery funding, we are expanding statewide programs for homeowner assistance, affordable rental housing, economic revitalization, and infrastructure and community resilience projects.”
The state will also begin 14 recovery programs for those affected by the storms.
The goal of the RCIP is to reduce the overall risk people and structures have to future hazardous events, while also creating a reduced reliance on federal funding for future storms.
Meanwhile the HRP is meant to restore jobs and renew commercial activities in vulnerable communities which suffered the most damage.
In the same release, Louisiana Office of Community Development Executive Director Pat Forbes said, “Funding awarded through the two new disaster recovery programs—the Hometown Revitalization Program and the Resilient Communities Infrastructure Program—will also allow affected areas to implement their local recovery and resilience plans, and make long-term, impactful investments in their most vulnerable communities.”
The Non-Federal Match Program was also launched.
With this program, eligible costs will be reimbursed to those who qualify for the state FEMA Public Assistance match requirements for emergency work ONLY which is meant to offset the burden of local match requirements.
For information on the new launching programs click HERE and for the program lineups and allocations look below:
$680 million: Restore Louisiana Homeowner Assistance Program
$4 million: Interim Housing Assistance Program
$1.5 million: Flood Insurance Program
Affordable Rental Housing Programs
$764 million: Resilient Mixed Income Gap Funding Program (PRIME)
$60 million: Middle Market Loan Program (MMLP)
$40 million: Neighborhood Landlord Rental Program
$15 million: Soft Second Mortgage Assistance Program
$15 million: Rapid Rehousing Program
$11 million: Permanent Supportive Housing Program (PSHP)
Economic Development Programs
$125 million: Hometown Revitalization Program
$96.1 million: Small Business Loan and Grant Program
$240.8 million: Nonfederal Share Match Programs
$100 million: Resilient Communities Infrastructure Program
$77.3 million: HGMP Global Match Program