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Raleigh committee OKs assistance for some tornado victims

Posted May 24, 2011

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— Raleigh’s Budget and Economic Development Committee approved a measure Tuesday that would provide financial assistance to some city homeowners affected by last month’s tornadoes.

The proposal, which would be funded with $400,000 in uncommitted housing bonds, will be presented to the City Council at its next meeting on June 7.

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Proposed by Councilman Eugene Weeks, who represents District C in southeast Raleigh, the program would provide up to $20,000 in deferred loans for low- and moderate-income homeowners who have exhausted other means of financial assistance to get their homes back to the city’s minimum living standards.

Other types of financial assistance would include homeowner’s insurance or grants from the Federal Emergency Management Agency.

To qualify, applicants would have to have a maximum income ranging from $43,550 for a one-member household to $82,050 for an eight-member household, be in good standing with their mortgage and property taxes and have a homeowner’s insurance policy at closing.

The loans would be repaid to the city if the house is sold or the homeowner moves.

Some committee members expressed concern, in light of a tight budget, and said the city would be setting a precedent for damage caused by future storms.

The tornado ripped through portions of Raleigh on April 16, causing an estimated $115 million in damage and destroying 138 homes and damaging nearly 700 others.

The city has coordinated a benefit concert, Rise Up Raleigh, to help raise money for local charities assisting storm victims. Eleven local bands will play at the June 3 event at the Downtown Raleigh Amphitheater, and donations will be accepted at the gate.


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  • bmg379 May 25, 2011

    Hmm,a slight clause in the document says,

    only if the residence was deemed uninhabitable,that really narrows it down

  • bmg379 May 25, 2011

    most of those low income folks are not property owners and have never made a mtg pmt on time or paid a full amount.

    why do people believe ins pays enough to rebuild your place as it was before the storm,most of us who had ins and are homeowners are finding out there is a gap

  • coolwill43 May 24, 2011

    I’ll add one more qualification , must be a US citizen.

  • venitapeyton May 24, 2011

    "..be in good standing with their mortgage and property taxes and have a homeowner’s insurance policy at closing".

    Election year posturing. A 'loan' that can't be accessed by the unemployed, homeowners with modified loans (since their credit has already taken a hit) and completely ignores renters.

  • whatelseisnew May 24, 2011

    "Raleigh, the program would provide up to $20,000 in deferred loans for low- and moderate-income homeowners"

    The low-income people should get nothing. They already are on the public dole. The ones that should get help are those that actually have been paying some money in.

  • GWALLY May 24, 2011

    $400K..??????..who SAYS there is a budget shortfall.....gubmnt' can ALWAYS find mo money and mo ways to spend it....!!!! Can't EVER find a way to cut spending..but spending it, well THAT, just comes naturally...!!!!

  • ICTrue May 24, 2011

    Don't people spend most of their lives being ripped off by insurance companies? Then when tragedy strikes everyone is wondering...who's going to pay for all this? Insurance companies need to stop being allowed to duck their responsibilities. Who do they think they are, the federal government? People aren't paying them that money just so they can build skyscrapers.