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The HUD assistance will supplement aid from the Federal Emergency Management Agency and other federal agencies.
Funds under the new HUD Disaster Recovery Initiative can be used for long-term recovery efforts, property buyouts, relocations and efforts to prevent future flood damage. The program will give communities great flexibility in meeting local needs quickly.
Communities can use HUD funds for: rehabilitation of residential and commercial buildings; acquisition, construction or reconstruction of public facilities and improvements, including streets, neighborhood centers, and water and sewer facilities; homeownership assistance, including downpayment assistance and interest rate subsides; building new replacement housing; code enforcement; and assistance to businesses for carrying out economic development activities for job creation and retention.
Content Archived: January 20, 2009