MDA's Small Rental Assistance Program Exceeds 2,000 Units
From: MDA News Release Lee Youngblood Filed
JACKSON- The Mississippi Development Authority Disaster Recovery
Division’s (MDA DRD) Small Rental Assistance Program (SRAP) has completed
and received certificates of occupancy for more than 2,000 small rental
units in less than two years, halfway to SRAP’s projected 4,000 unit goal.
SRAP, along with the state’s Long Term Workforce Housing and Public
Housing Assistance programs, represents almost $1 billion committed by
Governor Haley Barbour to build or rehabilitate affordable housing
throughout the Coastal counties impacted by Hurricane Katrina.
“The addition of more than 2,000 affordable, attractive small rental units
for low and moderate income residents bodes well for our recovery along
the Gulf Coast,” Governor Haley Barbour said. “Coupled with about 3,000
Public Housing and Long Term Workforce Housing program units, our Katrina
recovery housing programs have made available approximately 5,000 units to
date, with thousands more in the works. Along with our Homeowner
Assistance Program, which provided direct grants to almost 28,000 Coast
residents, these housing initiatives have helped drive down Mississippi’s
FEMA trailer count from almost 40,000 to only about 150 left in the
Coastal counties today.”
SRAP provides forgivable loans which serve as gap financing for owners of
small rental properties. The owners agree to repair, reconstruct, or
construct rental housing and rent to low to moderate income families for a
specified time. The loan is ‘forgiven’ for applicants who satisfy all
program requirements for the compliance period ranging from five to 10
Rental units are available in locations throughout Hancock, Harrison,
Jackson, and Pearl River counties, many of which are some of the most
storm damaged neighborhoods.
“This is such a popular program because we’re rehabilitating homes in the
occupants’ former neighborhoods,” said Nell Rogers, Small Rental Program
Manager. “A large number of rental units are also in or near historic
districts in the coastal counties, aiding the preservation of the historic
The Small Rental Assistance Program has three components: Rounds One and
Two of SRAP are providing qualified landlords with up to $40,000 per unit,
provided they rent to low and moderate income renters for five years. A
third round, commonly called the Neighborhood Rental Restoration Program (NRRP)
provides landlords up to $70,000 in per unit financing provided they rent
to low and moderate income tenants for 10 years.
The funds are sourced from the state’s $5.4 billion
Congressionally-appropriated Hurricane Katrina recovery package secured by
Governor Barbour and the state’s Congressional delegation shortly after
the August 2005 storm.
To date, more than $3 billion of this package has been disbursed on
recovery projects ranging from grants to individual homeowners whose
properties were damaged or destroyed by Hurricane Katrina to various
projects to repair public facilities or sustain the area’s job base. The
remainder is committed to ongoing projects to provide affordable housing,
repair infrastructure or stimulate economic recovery.