[StBernard] Owners awaiting funds in LRA's Small Rental Program must keep property clean to remain eligible

[Westley Annis]

Owners awaiting funds in LRA's Small Rental Property Program 

must keep properties clean and secure to remain eligible 

 

The Louisiana Recovery Authority has issued a policy clarification to put
owners in the Small Rental Initiative on notice that they will lose
eligibility if they fail to follow local laws about maintaining their
property while awaiting LRA funds. The LRA program gives small rental owners
forgivable rebuilding loans.

 

"Some owners have used this program as an excuse to allow their property to
fall into disrepair, and that is not acceptable," said St. Bernard Parish
President Craig Taffaro. "With over 520 applications, and over 900 units
anticipating LRA assistance, the need to address many of these blighted
properties is essential to the overall recovery efforts."

 

St. Bernard ordinances require that properties be clean, well-kept and
secure. Such owners have been cited and fines have been issued for
violations.

 

"Owners have to maintain their properties," said Bradley Sweazy, manager of
the LRA's Small Rental Property Program. "Just because they are
participating in the Small Rental Property Program does not give them the
right to not maintain their property. Local parish codes supersede our
program rules."

 

The LRA Small Rental Property Program provides loans, incentives or direct
loans to property owners who operate affordable rental property. In the
program's original design, small landlords were required to rebuild or
restore their one-to-four unit rentals, then obtain forgivable loans in
exchange for renting out the affordable units. However, many landlords were
unable to pay the out-of-pocket repair costs, or to obtain construction
loans. This stalled the program's goal of quickly bringing online more
post-storm affordable rental housing. 

 

Keeping this in mind, the LRA/Office of Community Development implemented
enhancements to the program, allowing the state to provide qualifying small
landlords with up-front loans tied to repairs that will be forgivable over
time, if the owners follow certain rules. 

 

For more information about St. Bernard's Growth and Recovery, visit
www.sbpg.net <http://www.sbpg.net/> . For more information about LRA and its
programs, visit www.lra.louisiana.gov <http://www.lra.louisiana.gov/> . 

 

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