Small Rental Assistance Program SRAP 2nd Round Classes
The MDA (Mississippi Development Authority) will be starting a string of classes for investors who are looking to apply for the 2nd round of the Small Rental Assistance Program (SRAP).
The first of the 16 classes will take place Monday, October 13th in Biloxi, MS and will continue on through October 30th at locations in Gulfport, Saucier, Biloxi, Long Beach, Gautier, Picayune, Bay St Louis and Pascagoula. Every class will be managed by MDA staff who can properly explain to investors if the SRAP program will be a good fit for them.
Jon Mabry (Chief Operations Officer for the Mississippi Development Authority Disaster Recovery Division) has said they have worked on making the second round of the SRAP much easier for people to comprehend. He also said they will put a special emphasis on the applications that are actually helping to rebuild housing in the places that were the hardest hit by Katrina.
In order to be accepted the applicant’s property must be in one of the following counties; Harrison, Jackson, Hancock and Pearl River.
The program will provide 5 year forgivable loans up to $40k per unit, and there will be rules that the applicant must abide by for the term of the loan.
The form to apply for the Small Rental Assistance Program will be on the MDA’s site on October 15th.