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NY Rising Program to help 6,575 homeowners impacted by extreme weather

ALBANY - Up to $300 million has been made available through the State’s NY Rising Housing Recovery Program to support home elevations for 6,575 homeowners. Individuals eligible for this round of funding experienced damage to their homes as a result of Superstorm Sandy, Tropical Storms Irene and Lee. The Optional Home Elevation and Mitigation Initiative is being offered in addition to other housing recovery assistance that has been made available through NY Rising.

“As we continue to adjust to the new normal of extreme weather, it is critically important that our communities are as safe and resilient as possible,” Governor Andrew Cuomo said. “That is why the state is stepping up to support home elevations for thousands of New Yorkers who were hit hard by Sandy – because we’re not just rebuilding from the damage that was done, but building back with the next storm in mind. This level of housing recovery assistance is unprecedented, and I am confident that it will go a long way toward creating a New York that is stronger, smarter, and safer than ever before.”

To date, the agency has issued 8,000 storm-impacted homeowners with more than $350 million, helping communities throughout New York to recover from recent storms and build back even better than before.

Of the 8,000 households, 1,400 households being required to elevate their homes. Approximately 360 of the 1,400 have opted to undergo full-reconstruction, which will include elevation as part of the process. The remaining 1,020 homeowners will be awarded $87 million to complete the mandatory elevation procedure. The State has provided $15 million to 166 households from this group to date, who have already completed their elevations. The remaining 854 homeowners are currently in various phases of the initiative. Because the Housing Recovery Program distributes half of the funding upfront, with the other half coming after work has been completed, it has already disbursed $36 million to homeowners with another $36 million on the horizon.

As part of the undertaking, NY Rising covers the costs of required elevation to homes that are deemed “substantially damaged” and located within the 100-year flood plain. The program also pays for the optional elevation of houses that have not been substantially damaged, but that are located within the 100-year flood plain, as well as those that have been granted “repeated loss status” from the Federal Emergency Management Agency (FEMA).

Additional aid through the Interim Mortgage Assistance (IMA) program may be available to homeowners who must temporary relocate during the elevation process. This undertaking aims to mitigate risks associated with the occurrence of dangerous weather, thereby ensuring that New York communities are better able to withstand upcoming storms.