PHASE I and II – HOMEOWNER GRANT PROGRAM

As of February 7, 2007 – PHASE I

* 10,303 Mississippi families have received grants for recovery and rebuilding
* closing packets have been sent to 13,538 households
* administrators expect that about 14,000 homeowners will ultimately qualify for assistance

Under this grant program, recipients legally agree that any rebuilt structure on their property must have:
* flood insurance
* be elevated out of danger
* built to the International Residential Building Code



PHASE II –
* targeted to low and moderate income homeowners regardless of insurance or flood zone status
* approved by HUD shortly before Christmas
* grant notification packets to eligible applicants will be distributed in the first quarter of this year and the financial counseling and closing process will begin at that point