NEW ORLEANS — The City of New Orleans announced a $2 million American Rescue Plan Act funding is now available which could help struggling homeowners in New Orleans.
The funding will support New Orleans Area low-to-moderate income homeowners experiencing financial difficulties by helping them pay outstanding mortgage payments, and insufficient escrow balances used to pay flood insurance and property taxes.
The city will hold ARPA Information Sessions throughout New Orleans.
Below is a list of locations for information sessions:
September 17, 8 am to 12 pm Crescent City Farmers Market, 200 Broadway Street
September 19, 3 pm to 7 pm Crescent City Farmers Market, 500 Norman C Francis Parkway
The city is asking for organizations to respond to a Notice of Funding Availability (NOFA) to administer mortgage relief for qualifying Orleans parish homeowners who were disproportionally impacted by the COVID-19 pandemic.
The selected organization must respond to the NOFA by October 1st to manage the $2 million in ARPA funds.
The money will be dispersed over a 14-month grant period, ending on or before Dec. 31, 2025.
All program applicants should have had a qualifying and verifiable event caused by the COVID-19 Pandemic or other natural disasters that adversely affected the applicant’s ability to keep their mortgage in good standing.
The fund is for eligible homeowners whose primary home is in Orleans Parish.
For further information and updates on the City's ARPA investments and initiatives, please visit the official website.
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