Loan program starts in Volusia County to speed up hurricane repairs
by Moneyofficeteam 1 March 2024 · Loans
A program designed to speed repairs after Hurricane Ian celebrated the completion of its first home Wednesday in Deltona.
The formerly flood-damaged home belongs to Sabine Mathieu, a disabled Navy veteran who has an 11-year-old son. She couldn’t leave her home, so she did her best with the help of neighbors, cleaning to keep mold away before she could get repairs done.
She went to the Volusia County Council in October seeking help.
“I have very limited funds in order to repair my house. That’s why I stay in there this way during the whole time. So I’m doing my best to manage,” she told them.
County officials and Orange City Councilwoman Lisa Stafford helped connect her with resources.
That led her to SBP, a nonprofit disaster recovery organization that has a history of recovery efforts in Louisiana, Puerto Rico, Houston and the Bahamas.
The organization coordinated with Volusia County government officials to bring the Florida Recovery Acceleration Fund to Volusia County residents, said Thomas Corley, chief recovery officer for SBP. Mathieu’s home was the first to be completed through the program, he said.
The program offers loans to people so they can get repairs done while awaiting financial aid through a local government from HUD’s Community Development Block Grant-Disaster Recovery program ― the county government’s Transform386 program is managing those funds. When the federal aid comes in, it pays back the repair loan.
The damage on Mathieu’s home led to about $12,400 in repairs, said Brian Deubert, director of construction for the Florida Recovery Acceleration Fund. Crews did the work in February. They pulled off baseboards and trim to check for mold. They pulled up and replaced damaged flooring and replaced a bathroom vanity, in addition to addressing other concerns, he said.
Transform386 has about $329 million for Hurricane Ian recovery in Volusia County coming from HUD’s Community Development Block Grant-Disaster Recovery program. The program is intended to address needs that haven’t been met by other funds.
Of that, $200 million is earmarked for housing.
The county launched the Homeowner Recovery Program as part of the Transform386 housing efforts to help residents repair their homes from Ian damage or to reimburse residents for repairs they’ve already made. The program prioritizes helping lower-income households, people with disabilities and households with people 17 years old or younger or 65 years and older.
SBP expects that Mathieu’s loan will be reimbursed through that program. Transform386 officials have yet to start issuing funds through the Homeowner Recovery Program.
More than 1,000 applications have been filed with the Homeowner Recovery Program so far, and the county is still accepting applications. So far the county has confirmed that over 200 applications are eligible.
“This journey of recovery we’re on with our residents is a testament to what can be achieved when government, nonprofits, and communities collaborate with a shared vision of resilience and renewal,” Transform386 Director Dona Butler said in a prepared statement. “Every application we receive is a story of strength and hope, and we’re here to support those stories, ensuring they have the happy ending our residents deserve.”
Mathieu celebrated the repairs with officials from the county, SBP and others on Wednesday with a ribbon cutting and a cake that said “Welcome Home Sabine.”
“I’m so grateful,” she said.
Mathieu said she wants more people to know about the available help.
“It makes a great difference,” she said.
Corley said SBP wants to help at least 50 homeowners in Volusia County through the program.
What is SBP’s Florida Recovery Acceleration Fund?
It’s an investment fund with backing from the UPS Foundation, Dow Chemical and Farmers Insurance. It provides loans for home repairs from Hurricane Ian damage for “HUD-qualified homeowners.” Credit Human is the lending partner.
SBP launched operations in Volusia County because of the county government’s Transform386 program. SBP anticipates that the county will use HUD funds to reimburse SBP for the repair work.
To qualify for a loan, the resident must have owned the home when Ian hit and still own it today, among other criteria.
For information, people can call SBP at 863-660-3133 or go to sbpusa.org.
How do I apply for the Transform386 Homeowner Recovery Program?
The Transform386 effort is separate from the Florida Recovery Acceleration Fund and is run by the Volusia County government.
People who have not yet made repairs from Ian and those who would like to seek reimbursement for repairs they have made can apply for the Homeowner Recovery Program.
This program also has income eligibility criteria and other requirements.
People can learn more and apply at transform386.org. People can also call 386-943-7029 for information.
