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Purpose: <br />Emergency/Disaster Repair Grant Summary Page <br />To fund all or a portion of the cost encountered in <br />repair of existing owner -occupied housing units <br />damaged through a disaster. <br />Funding Source: State Housing Initiatives Partnership (SHIP) <br />Eligible Persons: <br />Assistance: <br />Criteria: <br />• Very Low -Income persons <br />• Low -Income persons <br />The County may provide up to $15,000 per unit in <br />emergency/disaster repair grants. The applicant shall <br />execute a grant agreement with the county indicating <br />that applicant will comply with the county's Local <br />Housing Assistance Program's requirements. <br />Income Eligible Households: VLI (not to exceed 50% of <br />the county's median income), LI (51 to 80% of the <br />county's median income) <br />Property <br />Qualification: Owner -Occupied <br />Debt Ratio: N/A <br />Loan Period: 10 years <br />Interest Rate: Zero (0) <br />Repayment Terms: No payment is required except <br />in cases where the assisted <br />unit is sold prior to 10 years, <br />refinanced with a cash out, or <br />occupied by someone other than <br />the original grant recipient. <br />30 <br />