City Creates Tornado Victim Loan Program

Print More

The Raleigh City Council set aside $400,000 this week to loan money to homeowners who don’t have insurance and can’t find other assistance to repair homes damaged in the April 16 tornado.

Low- and moderate-income Raleigh residents can apply for up to $20,000 in deferred loans. The money can only be used to bring damaged homes up to a livable condition.

Mayor Charles Meeker told the council Tuesday that this program is meant to be a last resort “to get people back in their homes.” People applying for the loans will have to have already looked for help from their insurer, FEMA and other state and federal agencies.

Councilors discussed potentially adding another $1 million to the loan program through a housing bond that will go before voters this fall. City council members will decide at their next meeting in two weeks whether another tornado assistance loan program should be part of the proposed bond.

Residents have 90 days to apply for the loans. Councilors will get a report on the progress of the program after that deadline in September.

Affordable housing

Councilors also approved three joint ventures for affordable housing. The three projects will provide 130 units for elderly residents and 100 family units. The projects will cost the city $2.5 million.

Grants

City councilors approved six Community Enhancement grants for the upcoming fiscal year:

SWOOP – Swoopin Saturday – $8,564

Literacy Council of Wake County – Juvenile Literacy Center – $25,000

Triangle Family Services – Family Safety Initiative – $40,000

Interact – A Roof Over Our Head – $50,000

The Encouraging Place – Summer Camp – $16,988

Step Up Ministry – Housing Program – $20,293

Comments are closed.