Reynolds Says New Disaster Housing Grant Programs Are Ready – Iowa

(The Center Square) – Iowa Gov. Kim Reynolds said Monday that two new housing programs to help victims of Iowa’s recent storms are now open to applicants.

According to a news release from the governor, the state’s Disaster Housing New Construction Grant program provides developers with up to $1 million in grants to develop residential units for sale or rental in disaster-affected areas. The Iowa Economic Development Authority oversees the program, which is only open in counties that have been declared a federal disaster.

Residents can receive up to $50,000 through the Disaster Housing Assistance Program. According to Reynolds, this money is intended for homeowners who need more than what is covered by their insurance or the Federal Emergency Management Agency’s Individual Assistance Program. Residents must be registered with FEMA to be eligible for the program.

“Rebuilding homes for thousands of displaced Iowans represents an important opportunity for their personal recovery as well as the economic recovery and growth of their communities,” Reynolds said. “These programs are a critical first step in ensuring Iowans can rebuild and continue to thrive in the communities they call home.”

Two-thirds of Iowa’s 99 counties have been affected by recent tornadoes and flooding, the governor said Thursday.

According to Reynolds, more than 70 farms in Shelby County alone have been affected. A program to help farmers was announced Thursday.

“We’re going to bring some parity to farmers by creating the Disaster Recovery Farm Interest Program,” Reynolds said. “This program actually reduces interest rates by paying off interest up to $50,000 per household over 12 months on commercial loans that farmers will use to repair damage.”