[StBernard] status? Parish low-interest loan program?

[Westley Annis]

This Westley excerpt from May 12 - see below -- 
whatever happened to this for those of not getting SBA or LRA?
Does anyone have a clue?

Thanks Debby Rosenberger
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Fri, 12 May 2006 22:53:42 -0500 
Reply-To:  st-reply at da-parish.com  Add to Address Book 
Subject:  [StBernard] St. Bernard Parish to seek OK for parish loan program 

St. Bernard Parish's Home Mortgage Authority passed a resolution 
Thursday to proceed with a low-interest loan program to help parish
residents 
rebuild, a parish news release said.  The issue will go before the State
Bond 
Commission in July. 

Bonds would be issued to finance the loan program, under which a 
maximum of a $250,000 loan could be available. The program would be open to 
applicants earning less than $78,000 a year. Applicants would also have to
have 
lived in St. Bernard Parish at the time of Hurricane Katrina and the
residence
involved must be owner-occupied, the news release said. 

Loan rates haven't been fixed but could be comparable to U.S. Small 
Business Administration loans, which are about 2.7 percent. 
All but a handful of homes out of the parish's 27,000 residences were
flooded in the hurricane and the point of the loan program would be to 
help residents rebuild, according to members of the Home Mortgage Authority 
board who met Thursday, including Parish President Henry "Junior''
Rodriguez,
Parish Council Vice-Chairman Joseph DiFatta Jr. and banking official 
Norris Delamore. 

"For people who can't get an SBA loan, this gives them a second way'' 
to try to get a low-interest loan, DiFatta said. 

The State Bond Commission would decide on whether to grant approval to 
the Mortgage Authority for the development of the loan program and approve 
the form of the notice of intention to issue bonds, as well as approve the 
form of the notice of sale of bonds. 

The Mortgage Authority also must obtain the approval of St. Bernard 
Parish government for the loan program and the bond issuance necessary to 
furnish the money as well as request the parish to apply for Community 
Development Block Grant funds for the program.

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end