Gov. Signs Enhanced Flood Rebuilders Loan - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Gov. Signs Enhanced Flood Rebuilders Loan

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Governor Jack Dalrymple signed into law a bill to enhance and extend the terms of the state's rebuilder's loan program for 2011 flood victims.

The bill provides about thirteen-and-a-half million dollars of additional funding in the loan program for not only residents affected by flooding but also those who are living in approved temporary housing units located on a group site, and owners of flooded rental property.

Beginning October first flood victims can apply for the supplemental rebuilder's loan of up to 20-thousand to cover additional flood-related expenses.

The loan is fixed at a one percent interest rate and is deferred for two years.

The 2011 Mouse River Flood damaged or destroyed more than four-thousand homes and structures in Minot and Ward County.

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