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Public comment sought on reallocation of RESTORE funds

Courtesy NWS
Posted at 11:35 AM, Mar 24, 2021
and last updated 2021-03-24 12:35:30-04

The Louisiana Office of Community Development is accepting public comments on an Action Plan Amendment that will reallocate funds in the Restore Louisiana Homeowner Assistance Program, as well as other Restore programs, to create new housing and economic development programs for recovery from the Great Floods of 2016.

“The Restore Louisiana Homeowner Assistance Program has made tremendous progress, with 17,200 grant awards totaling more than $667 million offered to homeowners,” OCD Executive Director Pat Forbes said. “With sufficient funding set aside to serve all eligible homeowner program applicants, it’s important that we get these available funds invested in some of the many remaining long-term affordable housing and economic development needs created by these floods. The reallocation of these funds is going to make a huge difference for our residents who remain deeply affected by this disaster.”

As a result of APA 16, the total Community Development Block Grant-Disaster Recovery allocation from the U.S. Department of Housing and Urban Development for Louisiana’s recovery from the Great Floods of 2016 remains unchanged at $1,708,407,000.

APA 16 will:

  • Reduce the allocations to the Restore Louisiana Homeowner Assistance and Interim Housing Assistance Programs;
  • Reduce the allocations to the Neighborhood Landlord Rental, Neighborhood Landlord Rental Phase II, Piggyback and Resilient and Mixed-Income Piggyback Programs;
  • Reduce the allocation to the Small Business Loan Program;
  • Reduce the allocation to the Farm Recovery Program;
  • Create and allocate funds to the Neighborhood Landlord Rental Program Phase III;
  • Create and allocate funds to the Rural Bond Bundle Program;
  • Create and allocate funds to the OCD CDBG Homeownership Pilot Program;
  • Create and allocate funds to the Middle-Market Loan Program;
  • Create and allocate funds to the Fast Gap A Program;
  • Create and allocate funds to the Fast Gap B (Rental Affordability Preservation) Program; and
  • Create and allocate funds to the Flood-Ready Workforce Development Program.

The formal public comment period for Action Plan Amendment 16 begins today, March 24, and continues until 5 p.m. Tuesday, April 6, 2021. Residents, community leaders and elected officials can view and comment on the plan by clicking here [doa.us17.list-manage.com] and selecting the respective APA link.