Work with us
Tuesday, October 6, 2015
NY Rising releases award letters
(Page 3 of 3)
Courtesy New York State
When residents receive their award letter, it will mark the third of a nine-step process that NY Rising has outlined for grant recipients on its website.

Another concern was that accepting the grant meant putting a lien on the home. Diamond said that, while the program does require homeowners to stay in their homes for three years after the final grant payment, and there is a financial penalty if they decide not to, there is no formal lien process involved.

“We could’ve decided on a much more onerous approach, but we decided not to, based on feedback,” Diamond said. “That makes people nervous when they hear the word lien. It would’ve been a more intrusive process.”

Homeowners who choose to sell before the three-year period is up must return one-third of the grant money for each year. “We think that’s a modest requirement,” said Diamond. “We want people to have some commitment to staying in the area if we’re going to invest substantial public dollars in repairing their home.”

NY Rising requires homeowners who accept grant money to carry flood insurance, but program documents state that it is the responsibility of the homeowner to alert subsequent owners to the flood insurance requirement. If the new homeowner is not made aware of the mandate, doesn’t get insurance and then a storm hits, the previous homeowner is responsible for reimbursing the federal government for any aid it gives the new homeowner.


2 comments on this story | Please log in to comment by clicking here
Please log in or register to add your comment

I don't understand why the women from Long Beach is concerned. Take the 80K from NYS rising and instead of SBA loan do a 401K loan, HELOC, take from savings, sell your cars, borrow from Mom etc. You just cant borrow from NYS rising AND SBA as it is double dipping in their eyes.

My only question on program is, ok lets say you open mail box today and it says you are entitled to 50K for work done and 100K for work to be done.

What's next. When do I get my check for 50K and what is process to go ahead and hire a contractor?

It is a shame the money is so late in coming. Folks with no flood insurance and only the $31,900 from FEMA did not expect anything. Many threw like 70K into house fixing it best they could.

Most would have done nothing to house. And build a new house. Now trouble is they dont have enough to build a new house. They have splits etc where part of house is below BFE, as such their flood insurance rate will go through roof in a few years if they dont raise house. But now they dont have enough to raise house as they blew money making their home livable.

Still great the state is doing this. Long Beach in like three years will be ten times better due to Sandy.

Monday, October 21, 2013 | Report this

Many of the small long beach bungalows with detached garages are hit by fact NYS rising does not cover damage to detached garages and repairs are often based on "unit" costing, length, width, height of rooms etc.

If you have a house under 1,000 square feet with a detached garage and you neighbor has a 1,800 split with a 200 square foot attached garage the checks are going to be very different.

Monday, October 21, 2013 | Report this
Terms of Use | Advertising | Careers | Contact Us | Community Links © 2015 Richner Communications, Inc.