The Road Home program helps people in New Orleans and across the Gulf Coast.
Louisiana developed the Road Home Program to help cover the cost of repairs and rebuilding to the thousands of homes damaged in Hurricanes Katrina and Rita. Under the program, homeowners can receive financial assistance for repairing and elevating their homes. The program also covers small rental houses. The Road Home Program is the largest single housing recovery program in U.S. history, according to the Road Home.
Homeowners Program
The Homeowners Road Home Program provided funding for Louisiana residents whose homes were damaged or destroyed in Hurricane Katrina or Hurricane Rita. Under the program, eligible homeowners could receive up to $150,000 to repair their home, purchase a new home or move out of state. Qualifications for the program included owning a single-family home deemed damaged by FEMA. July 31, 2007, was the last day homeowners could apply for this program, according to the Road Home.
Small Rental Property Owners Program
The Small Rental Property Owners program helps landlords pay for the cost of repairs to small residential rentals such as single homes, duplexes and small town homes. The Louisiana Recovery Authority issued two rounds of this program. In 2008, Louisiana announced they would provide upfront funding to repair or rebuild damaged rental properties provided the landlord would provide affordable housing for low- and moderate-income tenants, according to the Road Home. This upfront funding is in addition to the standard Road Home Program funding.
Elevation Program
The Elevation Program provides additional funding beyond the Road Home Program to help homeowners who are at high risk of flooding elevate their homes. To qualify, homeowners must have participated in the Road Home Program, opted to stay in their homes and live in a recognized floodplain. Only single-family homes and mobile homes are eligible for the Elevation Program. Homeowners can receive up to $30,000 provided they have not met the $150,000 Road Home Program cap, according to the Road Home.
Additional Compensation Grant
Louisiana offers the Additional Compensation Grant to cover the difference between the estimated cost of repairs of the home and the amount the program participant received through FEMA, the Road Home Program and their private insurance. Homeowners can receive up to $50,000 through an Additional Compensation Grant. Only participants whose household income is less than 80 percent of the median income in their parish are eligible, according to the Road Home.
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