Homeowners affected by Superstorm Sandy can take advantage of the state’s latest recovery program, providing they meet the low-to-moderate income limits, according to the state Department of Community Affairs.
The Low-to-Moderate Income Homeowners Rebuilding Program (LMI) provides funds for reconstruction, rehabilitation and elevation assistance to homeowners whose primary residence is located in one of the nine counties impact the most by the Oct. 29, 2012 storm.
“This program is additionally designed to serve LMI homeowners of Limited English Proficiency and owners of Manufactured Housing Units, as well as those LMI homeowners who did not apply for the Reconstruction, Rehabilitation, Elevation, and Mitigation (RREM) Program,” according to the DCA’s website.
The LMI program began accepting applications on Jan. 5. The deadline to apply is 5 p.m. on March 4.
The new program is funded with $40 million in U.S. Department of Housing and Urban Development Community Development Block Grant-Disaster Recovery funds. Of the $40 million, $10 million is earmarked for substantially damaged manufactured homes.
Homes that were substantially damaged by Sandy – 51 percent or higher – are given priority. A computer randomization will determine priority of grant eligibility, according to the DCA,
Program Eligibility Requirements:
- Homeowner must have registered with FEMA.
- Homeowner must have owned and occupied the damaged home at the time of the storm.
- The damaged home must have served as the homeowner’s primary residence.
- The damaged home must be located in one of the nine most impacted counties of Atlantic, Bergen, Cape May, Essex, Hudson, Middlesex, Monmouth, Ocean, or Union.
- The damaged home must have sustained Sandy-related damage of at least $8,000 or had more than one (1) foot of water on the first floor.
- Homeowners who received federal disaster recovery assistance for a previous federally declared flood disaster by law must have continuously maintained flood insurance since receiving the federal disaster recovery assistance.
- You must qualify as low- to moderate-income based on your household adjusted gross annual income at the time you submit an application. Adherence to income limits is required for eligibility for the duration of the program.
- To access the income charts, click here.
Read the full article at patch.com.