Flood Relief Money Begins To Flow
Horizon Bank has announced a partnership with Federal Home Loan
Bank of Indianapolis, which can assist homeowners in need affected by significant flooding
in Michigan by providing funds for qualified repairs.
In connection with the extreme flooding within its district, The
Federal Home Loan Bank of Indianapolis has activated the Disaster Relief Program to aid eligible
homeowners. Eligible homeowners residing in Midland, or one of the five counties
in Michigan with a declared disaster/emergency status Midland, Arenac, Gladwin, Saginaw,
and Iosco may request up to $10,000 in grant funds to make qualified repairs to their
primary residence. Disaster Relief Program grant funds were available on July 1, and will remain open until October 31, 2020 or once funds are exhausted, whichever comes first.
In order to use DRP funding, you must reside in a county or municipality with a declared
state or federal disaster/emergency status, have a total household income less than or equal
to 80 percent of the area median income as published by the Department of Housing and
Urban Development and use the funds for qualified repairs or purchase.
Yolanda Davis, Vice President, Community Reinvestment Act Officer of Horizon Bank
said, “We are thankful to partner with the Federal Home Loan Bank of Indianapolis to
provide disaster relief to those affected by the severe flooding and help provide
rehabilitation assistance for individuals in the Midland area.”