By RYAN SCOTT OTTNEY
PDT Staff Writer
Residents living in southern Ohio who were impacted by last week’s severe weather could be eligible for emergency disaster assistance through Ohio Treasurer Josh Mandel’s “Renew Ohio” and “Rebuild Ohio” programs.
“As homeowners and businesses look to rebuild and recover from damage and loss, the Renew Ohio and Rebuild Ohio linked deposit programs may be able to offer assistance in lowering interest rates on loans,” Mandel said. “These programs help lower interest rates and are offered to victims of severe weather, and can be used by businesses or farmers for construction or to improve cash flow, or by individuals to finance the restoration of their homes.”
The National Weather Service has identified two F-0 tornadoes from last week’s storm in Scioto and Pike counties. One had wind gusts up to 72 mph and destroyed a fire department and community center in Otway, in Scioto County. Another tornado also caused some structural damage Friday in Pike County. The Rarden Fire Department was on scene where a significant number of trees were downed inside Scioto County.
Mandel’s “Renew Ohio” program will assist small business owners and those in the agricultural community who have suffered severe damage or loss as a result of the tornadoes or other forms of severe weather. Businesses and farmers can apply to obtain up to a three percent interest rate reduction on new or existing loans for construction or to improve cash flow. The interest rate reduction may be applied on up to $400,000 of the loan for up to four years.
“Rebuild Ohio” will assist homeowners who have suffered severe damage or loss as a result of the tornadoes or severe weather will be eligible for a three percent interest rate reduction on up to $400,000 of the loan for a five or seven-year period.
Last June, Mandel made $25 million available through the Ohio Treasury’s Renew Ohio and Rebuild Ohio emergency financing programs to assist Ohioans whose small businesses, farms and homes were damaged by flooding and severe weather.
For more information on how to apply for the Renew Ohio or Rebuild Ohio programs please contact the Ohio Treasury’s Department of Economic Development by calling 614-466-6546 or toll-free 800-228-1102 (option 3); or visit the Renew Ohio and Rebuild Ohio page at www.OhioTreasurer.gov/renewrebuild.
Ryan Scott Ottney can be reached at 740-353-3101, ext. 235, or firstname.lastname@example.org.