The state has created an unprecedented emergency loan program to help homeowners make repairs and recover damages sustained in the recent flooding.
The program, funded by the state Department of Economic and Community Development and administered by the Connecticut Housing Investment Fund (CHIF), will make $1.5 million available in low-interest loans for homeowners only.
The loans, offered at an interest rate of 2 percent, will cover the repair of damage to basements, foundations, roofs and insulation. The loans will also cover the purchase of critical appliances such as furnaces and water heaters that were damaged from basement flooding.
“Now that the flood waters are starting to recede, the enormity of the situation is beginning to sink in and homeowners are taking stock of their losses,” said Gov. M. Jodi Rell. “As they begin to put their lives back together again we are doing everything we can to help.”
To be covered under this program, the damage must be specific to these spring floods and verifiable proof is absolutely required, the governor said, adding, “Take photos, take videos, keep detailed notes and measurements. The most important thing to do is to document everything.”
The loans include maximums of:
- $20,000 for structural repair;
- $750 for hot water heaters; and
- $7,000 for furnaces.
The program began April 5. Information can be found online at ct.gov/governorrell and at chif.org.
“The damage is unbelievable,” said state Sen. Edith Prague, whose 19th District was hit hard. “Some families have nowhere to turn right now and that is why this program is so critical at this moment. We must ensure that people have the means to make their homes structurally safe and livable. I want to thank the Rell Administration for moving so quickly to offer this much-needed support.”
