Phase I Grant Program Guidelines
If your primary residence sustained flood damage from Hurricane Katrina, you may be eligible for assistance.
TO QUALIFY FOR A KATRINA HOMEOWNER GRANT, YOU MUST MEET ALL THESE REQUIREMENTS:
- You owned and occupied your home as of August 29, 2005.
- Your home was located in the Mississippi Counties of Harrison, Hancock, Jackson or Pearl River.
- Your home was your primary residence on August 29, 2005.
- You maintained homeowner’s insurance on the property.
- Your home was outside the pre-Katrina designated flood zone (FEMA-designated 100-year flood zone) on August 29, 2005, yet suffered flood damage as a result of Hurricane Katrina.
ONLY ONE APPLICATION PER HOME IS ALLOWED. THE GRANT APPLIES TO STRUCTURAL DAMAGE ONLY; NOT CONTENTS OF THE HOME.
GRANT RECIPIENTS AGREE TO ATTACH THE FOLLOWING AS COVENANTS TO THE PROPERTY:
- Maintain flood insurance on damaged residence in perpetuity.
- Rebuild or repair to applicable codes and local ordinances.
- Rebuild to newly recommended FEMA flood elevations.
- Manufactured housing (mobile homes) must comply with the Federal Manufactured Housing Code.
Use of Grant Proceeds
Homeowners will have sole discretion over the lawful use of the net balance of the Phase I grant proceeds. However, proceeds will be handled by the Lender for the Homeowner and the check for the grant proceeds will be made payable to both the Homeowner and the Lender. The Lender will use the proceeds to pay any past due installments owed on the Homeowner’s mortgage loan with the Lender and any ad valorem taxes due and owed on the damaged property.
If funds are used for something other than repairing or rebuilding the home, the Homeowner should consult its tax advisor regarding the taxability of this grant.