Bank disaster funds available for Dayton-area residents affected by tornadoes

Additional disaster funds are now available for Dayton-area families affected by the Memorial Day tornadoes.

A coalition of financial institutions and non-profit organizations are working to provide assistance to homeowners in need of repairs from tornado damage.

The coalition has a $5 million fund available through Federal Home Loan Bank (FHLB) of Cincinnati’s Disaster Reconstruction Program (DRP).

>> RELATED: Miami Valley Tornadoes 2019

Homeowners in Greene, Miami and Montgomery counties seeking repair assistance can call 937-250-7911.

DRP can provide qualified homeowners with grants up to $20,000 and renters up to $5,000 for the purchase or construction of a new home. To determine eligibility, contact a participating FHLB member.

Coalition partners include CareSource, Huntington Bank, KeyBank, County Corp, Rebuilding Together Dayton, Habitat for Humanity of Greater Dayton and the Miami Valley Community Action Partnership.

>> RELATED: Interactive tornado map

Eligibility rules for those applying for funds include:

  • This aid is for damage to owner-occupied housing and must be the owner's primary residence
  • Household income must be less than or equal to 100 percent of the applicable Mortgage Revenue Bond income limits. In Greene, Miami and Montgomery counties, for a family of one or two persons, the limit is $68,700 and for a family of three or more, the limit is $79,005.
  • Allowable expenses include construction, acquisition, or repair of a primary residence, which must be a single-family detached home or manufactured home permanently attached to a fixed foundation and taxed as real property where the applicant is the owner of record. FHLB funds can't be used for expenses covered by insurance or state or federal emergency management agencies.

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