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April 6, 2023

Home Headquarters And New York State Homes and Community Renewal Announce Help For Erie County Homeowners At Risk Of Flooding

Home Headquarters And New York State Homes and Community Renewal Announce Help For Erie County Homeowners At Risk Of Flooding
Low-Interest Loans Available for Home Flood Proofing and Climate Resiliency Upgrades
Homeowners meeting income eligibility requirements and living in the 500-year floodplain can receive loans of up to $50,000 for flood mitigation and energy efficiency improvements

ERIE COUNTY, NY— Nonprofit housing and community development organization Home HeadQuarters is providing income-eligible homeowners in Erie County who live within the 500-year floodplain loans of up to $50,000 at 1% interest to address flood risks and improve energy efficiency in the home. Funds must be used to conduct at least one flood mitigation activity, such as moving mechanicals above the flood line or installing flood vents as part of their overall home project. Funding can also cover improvements such as installing a new hot water tank or new energy-efficient appliances.

The $9 million loan fund through New York State Homes and Community Renewal helps New York homeowners protect their homes in response to climate change and increased flooding events.

HCR Commissioner RuthAnne Visnauskas said, “New York is setting the standard on climate adaptation and resiliency, and this pilot program is an important resource to help underserved residents in Erie County safeguard their homes. We thank Home HeadQuarters and officials in Erie County for partnering with us to help preserve our housing stock and improve energy efficiency in our communities.”

Assemblymember Jon D. Rivera said, “If this past winter in Buffalo has taught us anything, it’s that our community is not invulnerable to extreme weather events. The Resilient Retrofits 1% Loan Program will offer vulnerable homeowners the resources they need to keep their homes safe while flood risks become more frequent and foreboding. I want to thank NYSHCR, Home HeadQuarters and Erie County for working to equip our communities with the tools we need to fight the worst effects of climate change.”

“Now is the time for eligible homeowners who live in the 500-year floodplain to protect their properties with flood mitigation upgrades and energy efficiency improvements. Flooding can happen in an instant and have devastating, long-lasting effects, so it’s wise to prevent as much potential damage as possible,” said Erie County Executive Mark C. Poloncarz. “Thanks to NYSHCR and Home HeadQuarters, eligible homeowners can receive low-interest loans to help with these important upgrades, so I urge homeowners to check their status and apply.”

“The City of Lackawanna is grateful to our New York State Government and Home HeadQuarters partners for providing income eligible homeowners in our city and throughout Erie County with access to affordable financing resources to protect their homes against flooding and other climate change impacts,” said Lackawanna Mayor Annette Iafallo. “Dating back over 10 years to my time on the Lackawanna City Council representing the Second Ward, I have worked closely with various government partners to help relieve financial and other burdens faced by city residents who live in flood zone designated areas. While we still have much work left to do, the Resilient Retrofits 1% Loan Program is another positive step forward in this effort.”

“Home HeadQuarters is excited to help bring additional and needed funds to Erie County homeowners to help everyone better prepare for more possible extreme weather events,” said Home HeadQuarters Chief Executive Officer Kerry Quaglia. “We thank New York State Homes and Community Renewal for choosing Erie County as a launching point for this important program.”

Resilient Retrofits 1% Loan Fund Pilot Program Details:

  • Loans of up to $50,000 to make flood mitigation and energy efficient upgrades
  • Loans have a simple 1% fixed interest rate and are payable over five to ten years;
  • Household must meet income eligibility requirements (120% or less than the area median income);
  • Home must be wholly within the 500-year floodplain;
  • Home improvements must be made on a primary residence;
  • Applications and a 500-year floodplain look up tool can be found at www.homehq.org/erieretrofits or by calling Home HeadQuarters at 1-833-DRY-WARM or (716) 400-3707. 

Household Income Eligibility requirements for the Resilient Retrofits 1% Loan Fund are:

                1-Person Household:   $  73,680              4-Person Household:   $105,240

                2-Person Household:   $  84,240              5-Person Household:   $113,760

                3-Person Household:   $  94,800              6-Person Household:   $122,160

There is no minimum credit score required to participate in the New York State Resilient Retrofits 1% Loan Program, but homeowners must be current on their mortgage.