Legislation plans announced yesterday would help Pennsylvania residents get loans for flood mitigation.
Sen. Vincent Hughes, D-Philadelphia/Montgomery, said he plans to introduce a bill that would provide low-interest loans to homeowners and small businesses so they can purchase and install products to reduce flooding impacts.
The legislation was spurred by damage inflicted by Hurricane Irene and Tropical Storm Lee, but would also work in the favor of residents who experience year-round flooding trouble.
The Homeowner and Small Business Flood Control and Prevention Loan Program would provide loans capped at $10,000 through the Commonwealth Financing Authority, and also leaves room for up to $1 million in grants to low-income applicants.
Funding would come from a $10 million transfer from the current flood control projects fund under the H2O PA Act.