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Posted on: August 28, 2019

New grant funds available to help uninsured Miami Valley residents affected by tornadoes

From the Dayton Daily News

On Wednesday, August 21, the Federal Home Loan Bank of Cincinnati announced up to $5 million in new funds available as part of its Disaster Recovery Program for those affected by the Memorial Day tornadoes.  These funds will help fill the gaps between insurance, FEMA and other dollars.

Homeowners can apply for a grant of up to $20,000 for repairs or toward the purchase of a new home.  Renters in the affected areas could be eligible for up to $5,000 toward the purchase of a new home.

To qualify for the new grants, according to the Dayton Daily News, household income must be less than or equal to 100 percent of the applicable Mortgage Revenue Bond income limits.  In Greene, Miami and Montgomery counties, for a family of one or two persons, the limit is $68,700 and for a family of three or more, the limit is $79,005.

Allowable expenses for the program include construction, acquisition or repair of a primary residence, which must be a single-family detached home or manufactured home permanently attached to a fixed foundation and taxed as real property where the applicant is the owner of record.  FHLB funds can't be used for expenses covered by insurance or state or federal emergency management agencies.

Homeowners in Greene, Miami and Montgomery counties seeking repair assistance can call 937-250-7911.

Renters interested in purchasing a home should contact FHLB's member banks at:

Huntington Bank: 513-639-3006

Key Bank:  513-830-1261

For more information about tornado relief assistance, including supports and resources available, visit the Montgomery County website, www.mcohio.org/alert_detail.php.

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