[StBernard] Grant Money
westley at da-parish.com
Thu Jun 1 19:17:55 EDT 2006
Originally they were going to deduct your insurance money, but they added a
new admendment. The Senate approved it, so it got sent to the House and they
are the ones that added the admendment stating that insurance money cannot
be deducted. They UNANIMOUSLY approved the admendment. Apparantly, the House
thinks as we do, that it would punish those of us who did the right thing as
actually paid for insurance. So, because of the admendment, the bill went
back to the Senate so they could vote on the changes. Haven't heard anything
since then. I'm not sure if it will benefit renters, since the money is
based on house value, but information about it can be found at
<louisiana.gov>. There's a link for the Road Home Program. Has anybody heard
anything new on it yet? News would be appreciated, if there's any.
The grant money is part of the LRA program, also called "The Road Home".
There are three options to take advantage of the program, depending upon
1) Rebuild/Repair - If you are rebuilding or repairing your house, you can
get grant money, up to $150,000 to cover what FEMA/insurance doesn't pay.
2) Relocate in state - You can get up to $150,000 by selling your house to
the state and buying another house within Louisiana.
3) Relocate out of state - You can get up to $100,000 by selling your house
to the state and buying another house outside of Louisiana.
Notice, I said UP TO in all three cases. Your best change for the max is
with option one. For the other two, they will take your pre-Katrina value,
subtract FEMA and insurance (both flood and homeowners) then give you the
rest (option three gets hit with a 30% discount).
Although they are still waiting on another $4.2 billion from Congress, I
think they may end up with money left over even without the $4.2 billion. I
thought it was bad enough they were deducting flood insurance but to deduct
homeowners insurance also is simply an outrage to me.
I don't know that there is anyone to complain too, other than this guy
Stafford that the Stafford act is named after.
I haven't updated it, but it should give you a ballpark figure. Go to this
website to calculate how much you might get.
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