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Disaster
Relief Program for Hurricanes Gustav and Ike
The
Disaster Relief Program for Hurricanes Gustav and Ike is designed to assist
households and businesses affected by Hurricane Gustav and Hurricane Ike
through the disaster relief programs outlined below. These programs are
designed to support the recovery efforts in areas that the Federal Emergency
Management Agency (FEMA) has declared disaster areas due to Hurricane Gustav
or Hurricane Ike (federally-declared disaster areas).
Applications
for both of the grant programs will be processed on a first-come,
first-served basis until all funds are exhausted.
Economic Development Disaster Relief (EDDRG) Program
Hurricane Funds Available As of 5/14/2009 = $0
Overview
- Provides grants to
small businesses in income qualified census tracts affected by Hurricane
Gustav or Hurricane Ike for the use of funds set forth below. The small
business must demonstrate that it is promoting economic development in
the affected area through the creation or retention of jobs.
- The maximum EDDRG
grant for a small business is $20,000.
- All member
institutions eligible to obtain advances from the Bank may apply for EDDRG
grants in an amount up to $200,000.
Uses
of Funds
- Repair or replacement
of the small business's machinery, equipment and/or inventory
- Rehabilitation
(including reconstruction) of an already-existing building of the small
business
Program
Requirements
- The assisted small
business must qualify as a "small business concern" as that
term is defined by section 3(a) of the Small Business Act (15 USC §
632(a)) and implemented by the Small
Business Administration under 13 CFR part 121, or any successor provisions.
- The small business must be located in a
county/parish designated for Individual Assistance by the Federal
Emergency Management Agency as a result of Hurricane Gustav on or after
September 2, 2008, or Hurricane Ike on or after September 13, 2008.
- The small business must be located in a census
tract in which the median family income percentage is at or below 120%
of the median income for the area.
- The small business must demonstrate that it is
promoting economic development in the affected area through the creation
or retention of jobs.
- The member institution must pass on the full
amount of the EDDRG grant to the small business as documented by
invoices or purchase orders. A signed cost estimate along with the
signed attached Funding Certification for Rehabilitation, Reconstruction
or Repair will be accepted in lieu of invoices.
Housing Disaster Relief Grant (HDRG) Program
Hurricane Funds Available As of 3/13/2009 = $0
Overview
- Provides grants to
assist income-qualified households affected by Hurricane Gustav or
Hurricane Ike with the purchase, rehabilitation or reconstruction of
owner-occupied housing.
- All member
institutions eligible to obtain advances from the Bank may apply for
HDRG grants in an amount up to $500,000.
- To qualify for an HDRG
grant, a Hurricane-affected household must have an income at or below
120% of the median income for the area (AMI). The maximum HDRG grant for
a household with an income at or below 80% of AMI is $10,000. The
maximum HDRG grant for a household with an income above 80% and at or
below 120% of AMI is $7,000.
Uses of Funds
- Down payment
assistance
- Closing Cost
Assistance
- Rehabilitation
(including reconstruction)
Program Requirements
- The assisted
household must reside in a county/parish designated for Individual
Assistance by the Federal Emergency Management Agency as a result of
Hurricane Gustav on or after September 2, 2008, or Hurricane Ike on or
after September 13, 2008.
- The Total Income for
a household as stated on the Household Income Certification Form must be
at or below 120% of AMI, as published annually by the U.S. Department of
Housing and Urban Development and as adjusted for household size.
- The household and the
member institution must provide income documentation to substantiate the
household's income stated on the Income Calculation Tool located on the
Bank's website.
- The member
institution must pass on the full amount of the HDRG to the household as
documented by a signed HUD-1 Settlement Statement (for down payment or
closing costs assistance) or invoices (for rehabilitation or
reconstruction work completed). A signed cost estimate along with the
signed Funding Certification for Rehabiliation will be accepted in lieu
of invoices.
HURRICANE
GUSTAV
Qualifying
Parishes For Louisiana:
Acadia,
Allen, Ascension, Assumption, Avoyelles, Beauregard, Calcasieu, Cameron,
Catahoula, Concordia, East Baton Rouge, East Carroll, East Feliciana,
Evangeline, Franklin, Grant, Iberia, Iberville, Jefferson, Jefferson Davis,
Lafayette, Lafourche, LaSalle, Livingston, Madison, Morehouse, Ouachita,
Orleans, Plaquemines, Pointe Coupee, Rapides, Richland, Sabine, St. Bernard,
St. Charles, St. Helena, St. James, St. John the Baptist, St. Landry, St.
Martin, St. Mary, St. Tammany, Tangipahoa, Tensas, Terrebonne, Union,
Vermilion, Vernon, Washington, West Baton Rouge, West Carroll, West Feliciana
and Winn.
Qualifying
Counties For Mississippi:
Adams,
Hancock, Harrison, Washington and Wilkinson.
HURRICANE
IKE
Qualifying
Parishes For Louisiana:
Acadia,
Allen, Beauregard, Calcasieu, Cameron, Iberia, Jefferson, Jefferson Davis, Lafourche,
Livingston, Plaquemines, Sabine, St. Martin, St. Mary, St. Tammany,
Tangipahoa, Terrebonne, Vermilion and Vernon.
Qualifying
Counties For Texas:
Angelina,
Austin, Brazoria, Chambers, Cherokee, Fort Bend, Galveston, Greg, Grimes,
Hardin, Harris, Harrison, Houston, Jasper, Jefferson, Liberty, Madison,
Matagorda, Montgomery, Nacogdoches, Newton, Orange, Orleans, Polk, Rusk,
Sabine, San Augustine, San Jacinto, Shelby, Smith, Trinity, Tyler, Walker,
Waller and Washington.
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Federal Home Loan Bank of Dallas.
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