DRA Requirements
What Are the Requirements?
- Households must have a family income of 80 percent or less of the median income for the area.
- The property must be located in an area in FHLB Dallas’ District designated for Individual Assistance by the Federal Emergency Management Agency (FEMA) no earlier than January 1, 2019.
- Disaster Rebuilding Assistance funds may be used for repair, reconstruction or replacement work on all damaged components for habitability or code compliance. Reimbursement for repair, reconstruction or replacement work is limited to assistance not already paid for by insurance, federal or state emergency assistance or any funding sources.
- Disaster Rebuilding Assistance funds may not be used in conjunction with any approved AHP, HELP or SNAP subsidy.
- An executed Home Repair Estimate form and a pre-rehabilitation inspection report are required evidencing the amount of Disaster Rebuilding Assistance funds requested.
- Verification of the completed rehabilitation work via a final invoice and a post-rehabilitation inspection report is required.
- Pre- and post-inspections of the rehabilitation work are required and must be conducted by an independent third-party selected by the member. Unless the intermediary is a government-controlled entity, the third-party inspector must not be related to the intermediary.
- The developer fee to the intermediary may not exceed 10 percent of the Disaster Rebuilding Assistance Subsidy
- Homeowners may not receive any cash from the Disaster Rebuilding Assistance.
- Detailed information and guidelines governing Disaster Rebuilding Assistance can be found in attachment C of the AHP Implementation Plan.
- FHLB Dallas will provide up to $12,000 toward the rehabilitation.
- Homeowner(s) must have ownership of the subject property at the time of request for DRA funds and must have had ownership of the home at least 30 days prior to the related disaster.
