Mayor Karl Dean’s program designed to aid homeowners needing to rebuild following May’s flood has delivered $2.9 million to its first group of 102 applicants, the mayor’s office said in a news release Thursday.
“I’m proud of what this program is accomplishing so far,” Dean said. “We still have a long way to go, but already we’re helping families get back in their homes, and that’s the most important part of our city’s recovery.”
Dubbed “We Are Home,” the program came online in June to assist flood victims still facing significant home-repair payments even after receiving aid from the Federal Emergency Management Agency and low-interest loans from the U.S. Small Business Administration.
At the time, Dean and others said the plan would be to create a pool of $50 million to help a projected 2,000 Nashvillians in the form of low-interest loans and grants. Nashville-based The Housing Fund is overseeing the initiative.
According to the mayor’s office, “We Are Home” officials have received more than 1,000 application appointments since the program officially began. They are currently working on 802 active cases.
Funding for the program has come from a combination of federal grants, donations through The Community Foundation and contributions from generous companies such as Regions Bank.