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Posted August 2, 2024
Posted by Public Relations
[Council Bluffs> As residents of Pottawattamie County experience financial gaps caused by this year’s severe weather, the Iowa Finance Authority has launched a program providing up to $50,000 to homeowners repairing a primary, owner-occupied residence.
The Disaster Recovery Housing Assistance Program (DRHAP) is available to survivors whose homes were majorly damaged by weather events that have been declared eligible for FEMA Individual Assistance. The tornado events of April and the flood events of June, meet these criteria.
The financial award of up to $50,000 is for repair or rehabilitation of an eligible disaster-affected home. Assistance is provided in the form of a forgivable loan, forgiven monthly over five years and secured by a recorded retention agreement. If the homeowner sells the home or the home ceases to be the homeowner’s primary residence before the end of the five-year retention period, the homeowner will be required to repay the remaining loan balance upon the sale of their home.
DRHAP eligible homeowners must have unmet housing recovery needs that fall beyond the scope of insurance coverage and/or FEMA Individual Assistance. If the homeowner had insurance coverage covering disaster damage, the homeowner must have filed a claim with their insurance company and received final approval or denial of that claim. The homeowner must have also registered with FEMA and been awarded some form of FEMA Housing Assistance, which may include assistance for home repairs or temporary housing.
Assistance may be paid directly to contractors completing the repair or rehabilitation work or to the homeowner as reimbursement for eligible costs incurred.
Applications will be accepted until funds have been exhausted. Applications will be reviewed and approved on a first submitted, first ready to proceed basis. Incomplete application submissions may be offered a reasonable timeframe to cure those deficiencies.
For a more detailed explanation on eligibility requirements, and to apply, visit iowafinance.com/drhap.
Homeowners can register for FEMA Individual Assistance in the following ways:
Homeowners can complete the Pottawattamie County Needs Assessment Survey in the following ways:
