Hurricane Sandy: Housing and Recovery Assistance

On November 4, low-income housing tax credit (LIHTC) rules were waived to allow Tax Credit properties to admit Hurricane Sandy victims and their families, even if they don’t qualify as low-income or need of a permanent home. The IRS and Treasury Departments temporarily suspended the income limit and non-transient requirements.

Presidentially Declared Disaster status has been given to CT, NY and NJ, which makes federal funds available to victims through the Federal Emergency Management Agency (FEMA). Grants can be for home repairs and inexpensive loans for property losses that were not covered under insurance, as well as for businesses. In NJ and NY, Transitional Sheltering Assistance (TSA) has been approved for people who can’t return home for an extended period of time.

Apply for assistance from FEMA at Disaster Assistance, by calling 1-800-621-FEMA (3362) or via mobile device.