1. Hampton Hazard Mitigation Loan Program (HMLP) Hampton City Council February 22, 2012

2. Strategic Area Slide 2 Emergency Mgmt – 2/22/12HMLP Purpose Purpose of your presentation? Overview of the Hazard Mitigation Loan Program (HMLP)

3. Strategic Area Slide 3 Emergency Mgmt – 2/22/12HMLP Agenda Background Further Information Goals of Program

4. Strategic Area Slide 4 Emergency Mgmt – 2/22/12HMLP Background City Allocated $2.5M for revolving loan program for mitigating losses related to flooding and natural hazards. Partnership between the City, Hampton Redevelopment & Housing Authority (HRHA) and Old Point National Bank

5. Strategic Area Slide 5 Emergency Mgmt – 2/22/12HMLP Goals of Program To assist in providing sources of capital for mitigation and property protection of homes that may or may not have access to conventional financing. To stimulate the rehabilitation of flood damaged owner occupied properties in Hampton. To provide “gap” financing in situations where a conventional lending institution is unable to fill the total capital needs because of lending limits, collateral requirements or other risks. To protect life safety by decreasing the risk associated with flooding within the City of Hampton.

6. Strategic Area Slide 6 Emergency Mgmt – 2/22/12HMLP Qualifying Projects Home Elevation Abandon Space Below Base Flood Elevation Build an Additional Story & Convert Space Below Base Flood Elevation Dry Flood-Proofing for Historical Structures Move Utilities to Base Flood Elevation Plus 1 Foot or Current Regulation Structure Relocation Projects Property Protection

7. Strategic Area Slide 7 Emergency Mgmt – 2/22/12HMLP Highlights of Loan Conditions Home must be primary residence of applicant & applicant must be the principal owner of the property Minimum loan amount is $5,000 with a maximum of $100,000. Any increases to the maximum will need prior approval and substantiation. Property must be located in Hampton, VA Loan to value ratio cannot be more than 100% of current appraised value. 100% of loan funds must be used for approved flood mitigation project. Can be combined with Federal Mitigation Grants. (ie. To meet match requirements)

8. Strategic Area Slide 8 Emergency Mgmt – 2/22/12HMLP Further Information Contact: Hampton Office of Emergency Management 1300 Thomas Street, Room 97 Hampton, VA 23669 (757)727-1208