Flushing Councilwoman, Asian Americans for Equality, Announces Low-Interest Loans Available for Homeowners Affected by Recent Flash Flooding – QNS.com

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Flushing homeowners who live near Kissena Park and who experienced flooding in their homes during the early morning rains on Sept. 13 can now apply for assistance through the Asian American Community Development Fund for Equality ( AAFE).

City Council Member Sandra Ung joined AAFE in announcing that seven-year loans of up to $20,000 are available at a fixed interest rate of 2% through the AAFE Community Development Fund.

Many of the same areas that saw deadly flooding during Hurricane Ida last year, such as Peck and Rose Avenues in Flushing, also saw extreme flooding during the heavy rains that fell on the morning of September 13. .

The counselor visited families on Peck Avenue, where three people lost their lives in a flooded basement apartment during last year’s storm.

However, Ung’s office also heard from a number of voters who live on other streets around Kissena Park, whose homes were also damaged by severe flooding.

“The amount of rain that fell last week was nowhere near the intensity of Hurricane Ida, but it still caused flooding for an alarming number of homeowners around Kissena Park,” Ung said. “While we must consider all possible long-term solutions to mitigate the effects of these increasingly common severe weather events associated with climate change, I would like to thank Executive Director Thomas Yu and the Community Development Fund of the AAFE for making these loans available to help affected homeowners recover in the short term.

According to Yu, AAFE wants homeowners in Queens to know that they are not alone in dealing with the impacts of last week’s flash flooding.

“That’s why AAFE’s Community Development Fund is responding with an emergency loan program to ensure residents have quick access to the funds they need to make repairs,” Yu said.

To qualify for loans, the home must be near the owner’s primary residence; the damage must have occurred during the flash flood that occurred on the morning of September 13; and a licensed contractor must carry out all repairs. Homeowners who live in an area generally bounded by 46th Avenue to the north, Utopia Parkway to the east, Long Island Expressway to the south, 148th Street, Colden Avenue and 45th Street to the west can apply.

For more than 20 years, the Community Development Fund of AAFE, an affiliate of Asian Americans for Equality, has worked to provide capital and multilingual financial education to immigrants and low-income New Yorkers. income seeking first-time homeownership. AAFE CDF has a long history of responding quickly in times of crisis, providing aid to communities in distress. AAFE CDF is a Community Development Financial Institution (CDFI) designated by the US Treasury.

The application deadline is December 31. For more information or to begin the application process, call (718) 961-0888 or email [email protected]

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