Information from Ascension Parish:
Ascension Parish President Kenny Matassa announced today (Thursday, October 6) that FEMA's "Multi-Family Lease and Repair Program (MLRP)," offering direct temporary housing assistance, has been implemented in Ascension Parish.
The MLRP makes temporary housing available to eligible applicants who are unable to make use of financial temporary housing assistance due to a lack of available housing resources.
"Because there is such a shortage of habitable rental property in the Parish, we decided to participate in this program right away," Matassa said.
Under the program, multi-family properties (apartments and condominiums) located in a Special Flood Hazard Area (as declared by the President and the Governor) may be accepted. Ordinarily, properties in such areas are ineligible, but because of the circumstances, FEMA waived that restriction, opening up reconstruction money to property owners.
Eligible properties are leased to FEMA, allowing for FEMA's exclusive use as temporary housing for eligible applicants, usually for no less than 18 months. Property owners are required to purchase and maintain flood insurance for the full period of the lease agreement. The amount of flood insurance must be equal to or greater than the project cost, minus the value of the land; or the maximum limit of coverage, whichever is least.
To qualify, the property must have been previously used as multi-family housing, and may not require repairs and improvements exceeding the value of the lease agreement.