St. Petersburg, FL, January 11, 2024 – In a recent announcement that brings a glimmer of hope to those affected by Hurricane Idalia, the City of St. Petersburg has revealed the receipt of a substantial $600,000 in state funding. This much-needed financial support is aimed at aiding homeowners who have been significantly impacted by the hurricane’s devastating effects.
A Timely Relief Effort for homeowners affected by Hurricane Idalia
The funding, allocated by the State of Florida, is set to be channeled through the city’s existing Housing Rehabilitation Assistance Program. In light of the recent disaster, the program’s eligibility criteria have been temporarily expanded to cater specifically to hurricane-related needs. This move is a significant step towards rebuilding and recovery for the community.
Mayor Welch’s Acknowledgement
Expressing gratitude for this crucial support, Mayor Kenneth T. Welch acknowledged the hard work of the Pinellas Delegation. He emphasized the importance of this relief in aiding the coastal communities still grappling with the aftermath of Hurricane Idalia. The Mayor also indicated his eagerness to collaborate with representatives in the upcoming 2024 State Legislative Session, focusing on recovery and resilience as primary objectives.
How the Funding Works for homeowners affected by Hurricane Idalia
The funding will be provided in the form of forgivable loans, secured by recorded mortgages and promissory notes, to the tune of up to $100,000 per applicant. These are zero-interest rate loans with varying terms of five, ten, and fifteen years, offering a flexible repayment plan suited to individual needs.
Eligibility and Application
To qualify for this funding, applicants must have been directly impacted by Hurricane Idalia. The income criteria for applicants are set in accordance with the Area Median Income (AMI) levels defined by the U.S. Department of Housing and Urban Development, ranging from 30% to 120% AMI.
Those interested in applying or seeking more information can visit www.stpete.org/homerepair. Additionally, the City of St. Petersburg’s Housing and Community Development Department is available for queries at 727-893-7247.
Utilization of Funds for those who have been affected by Hurricane Idalia.
The disaster funds are allocated for a variety of purposes, including:
- Rehabilitation or new construction of damaged properties.
- Emergency supplies for weatherproofing damaged homes.
- Interim repairs and tree/debris removal.
- Payment of insurance deductibles.
- Rental, mortgage, and utility assistance for eligible applicants.
About the Housing Rehabilitation Assistance Program
This existing city program has been a cornerstone in providing residents with financial aid for home repairs, ensuring code compliance, safety, and accessibility. The program includes Home Repair Loans and the Accessibility Assistance Program, both designed to assist homeowners in maintaining safe and livable residences.
A Beacon of Recovery
This funding represents more than just financial aid; it’s a beacon of hope and a testament to the resilience of the St. Petersburg community. The expanded Housing Rehabilitation Assistance Program now stands as a crucial pillar in the city’s ongoing efforts to recover and rebuild stronger in the wake of Hurricane Idalia.