City's post-flood rebuilding initiative has disbursed $2.9 million so far

Thursday, September 16, 2010 at 6:25pm
Staff reports

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. 

3 Comments on this post:

By: tsgentuso on 9/16/10 at 8:14

There truly ARE many out there who are still working hard to make it to the "we are home" phase of flood recovery. For an up-to-date photo essay of a slice of Nashville's flood recovery, check this out:
Nashville Flood 2010, Part One--
Nashville Flood 2010, Part Two--

TS Gentuso

By: welshwitch on 9/17/10 at 8:04

Please be specific as to what "disbursed" and "delivered" means. Have they really "disbursed" any money? Have they really helped any famiies get back into their homes? I hope they have, and I think they have good intentions, but the reality seems to be they are just offering loans to people who can't afford them or have no need for another loan.
My experience with We Are Home has been this:
After an extended application process (more demanding than FEMA or SBA), We Are Home finally contacted me last week to let me know they can give me a LOAN at 4% interest. This is 4 months after the flood. We needed to start repairs months ago, so we already took out a loan from a local bank. Luckily I was able to get a low-interest bank loan to fill in the gap above the FEMA grant. So I have no need for another loan. Many of my neighbors cannot afford a loan if they wanted to. What we need is help repairing our homes and help recovering from the substantial debt.

I wonder if Tim & Faith, and all the other stars, and all the good people out there who donated time & money for flood relief realized that their donated money was going to be lent out at 4% interest?

By: on 9/20/10 at 7:11

We Are Home is only one of several programs providing help. I think that money may have been from Metro Government, and that the donations have been used otherwise such as the Community Foundation. It is a little confusing to the flood victims and to the public as to where funds came from, how they are being used, etc.