Louisiana Recoverable Grant Agreement
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FAQ
The first step in the Restore Louisiana Homeowner Assistance Program is a brief online survey for flood-impacted homeowners. Survey responses will determine when homeowners are able to advance to the application step.
The Small Business Loan Program is a lending program to assist disaster-impacted small businesses with non-construction expenses.
The Louisiana Main Street Recovery Program is a new state program designed to reimburse eligible small businesses for up to $15,000 in expenses incurred during the COVID-19 pandemic.
The Restore Louisiana Homeowner Assistance Program offers a program-managed repair or reconstruction option (Solution 1). Solution 1 homeowners only need to execute their grant, move their personal belongings out and then back in when construction is complete.
After accepting their award, the homeowner will meet with the closing team to sign their grant agreement. Once the grant agreement is executed and depending on the homeowner's selected solution, the homeowner will be issued a reimbursement check and/or will be provided a grant award to repair or reconstruct their home.
Restore Louisiana is funded through federal CDBG-DR funds that HUD allocated to Louisiana?a condition of this funding is that it may only be used to assist homeowners with repairing or replacing the structure of their damaged homes.
How does the Restore Louisiana affect my Louisiana state income tax? Pursuant to IRC Section 139, qualified disaster relief payments are excluded from gross income.
