Tribe Issues First Essential Single Family Rehab (Forgivable) Loan
The North Carolina Housing Finance Agency (NCHFA) made $14 million in state funds available to residents of North Carolina whose homes experienced damage during Hurricane Matthew. This funding is called Essential Single Family Rehabilitation Program Disaster Recovery. Three agencies in Robeson County were able to tap into this pot of money which will allow them to assist local residents whose homes have been damaged by Hurricane Matthew: City of Lumberton; Lumber River Council of Governments; and the Lumbee Tribe of North Carolina.
The loans are issued on a first-come, first-served basis. The Tribe accepted applications for two weeks back in April. Fortunately for the applicants, the loans are forgivable and applicants will not be required to make payments on the loans as long as they live in the home. The loans can cover damages up to $40,000 and are forgiven at a rate of $5,000.00 per year.
The Tribe's first recipient, Ms. Isadora Clark, of the Maxton community, was on site today to sign all the documents obligating the Tribe, Chicks Construction (Jeffrey Locklear), and Ms. Clark to this loan and rehab agreement. The work to Ms. Clark's home is expected to be completed by the end of September 2017.
To say the least, Ms. Clark is humbled by this opportunity and excited to see this work begin on her home. The staff is excited to see the fruit of their work begin to pay off.
This funding was made available to Robeson County by the North Carolina Housing Finance Agency.