Department of Housing and Urban Development Pays $500 Million Toward Relief

Blog posted On October 26, 2016

Louisiana, Texas, and West Virginia were granted $500 Million from the Department of Housing and Urban Development to aid recovery from flood damage incurred earlier this year.  The funding was provided through HUD’s Community Development Block Grant – Disaster Recovery Program which specifically assists communities that had severe damage to housing. 

HUD Secretary Julián Castro said, “these three states – Louisiana, Texas, and West Virginia – experienced intense and destructive flooding causing great damage to residents’ homes […] Today, we make a critically needed investment to help these communities recover and help families rebuild their homes. 

The most significantly impacted regions saw damage to more than 102,000 households and more than 41,000 families who saw the most serious levels of destruction.  Two counties in Virginia will receive $17 Million, three counties in Texas will receive $45.2 Million, and six counties in Louisiana will receive the bulk of the available aid with $437.8 Million 

We are awaiting the official notice from HUD to define the criteria for the use of the disaster funds.  If you would like to contribute to the flood relief effort, please visit RedCross.org.

Sources: HUD.gov, HousingWire, RISMedia, Mortgage News Daily