In the wake of Hurricane Katrina, Mississippi faces years of recovery and rebuilding. However, the Mississippi spirit makes Marsha and me confident that we will rebuild bigger and better than ever. I hope you find this website informative and useful. Thank you for your interest in our great state.
- Governor Haley Barbour
HUD approves rental program
Applications are available online
SUN HERALD
A new program aimed at spurring development of workforce rental housing in South Mississippi has been approved by the U.S. Department of Housing and Urban Development, Gov. Haley Barbour said Wednesday.
Details of the $260 million Small Rental Assistance Program are posted online on the Mississippi Development Authority's Web site - mississippi.org/smallrental/ - along with a guidebook and application form. The program, part of Mississippi's comprehensive Hurricane Katrina recovery plan, provides forgivable loans to owners of small rental properties to create more affordable rental housing for lower income families.
"Housing remains a critical issue on the Gulf Coast and today's announcement is another very positive step in our efforts to provide more and better housing units," Barbour said.
The online application is the first step in completing Round 1 of the Small Rental Assistance Program. Through the online application, potential applicants can begin compiling needed information before the mid-September formal application period start date.
The open application period begins Sept. 10, and runs for 45 days.
MDA will conduct a series of workshops to help small rental property owners understand the terms and conditions of the program and to assist individuals in completing applications.
Administrators of the Small Rental Assistance Program estimate 5,000 workforce rental-housing units will be built or repaired. In order for applicants to qualify, rental rates must be affordable as defined in the guidebook.
Units would be available to tenants with income at 120 percent or less of area median income, with 51 percent of the units reserved for tenants with 80 percent of AMI. For a family of four, 120 percent AMI income is $57,825 in Hancock and Harrison counties; $60,450 in Jackson County; and $46,575 in Pearl River County.
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