Insurance Commissioner Jim Donelon says the Louisiana Fortify Homes Program will open its second round of 500 grants of up to $10,000 in two weeks for Citizens policyholders to strengthen their roofs. Donelon says the first round of grants came available Monday and went very quickly.
“We went through the first 500 in two minutes 12 seconds. From noon to two minutes 12 seconds past.”
The LFHP has enough funding to award an estimated 3,000 grants. Donelon says residents will have to meet certain requirements to be eligible for the grant including…
“They have to have a homestead exemption on their home. And they have to have flood insurance if they’re in a federal flood zone.”
Grant funds are paid directly to contractors. Homeowners are financially responsible for all costs beyond the full grant amount. Grant funding is limited to construction costs.
The Legislature set aside $30 million for the program earlier this year. Donelon says this will provide relief to Citizens policyholders who are paying the highest premiums.
“It comes with about a 25 percent reduction in the cost of homeowners insurance and a seven percent increase in the appraised value of your home because that certificate is transferable upon sale or succession.”
The remaining grants will be available to all eligible homeowners across the state in upcoming weeks.
Interested residents are urged to apply at https://ldi.la.gov/fortifyhomes/.
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