State Programs Help Pay Quake Retrofits

Homeowners with low or moderate incomes may be eligible for state programs offering grants or low-interest loans for earthquake retrofitting, officials said Monday.

The California Department of Insurance is administering two programs to help homeowners pay for bolting foundations, securing water heaters, bracing walls and performing other preventive retrofit work.

“These two programs are a terrific addition for people who cannot afford to retrofit their property,” said Los Angeles City Councilman Hal Bernson, who stressed that few people are aware the programs exist. “People need to know this money is available.”

Grants worth up to $8,000 each are available to owners of single family and mobile homes through the Earthquake Retrofit Grant Program.

“We anticipate that this will cover the majority of costs. The average house can be retrofitted for about $6,000,” said Walter Watson , a program chief with the Department of Insurance.

A second program, the Earthquake Loan Guarantee Program, provides loans up to $15,000 for eligible homeowners and owners of commercial properties with four units or less. Bank of America is providing the loans through a contract with the state, officials said.

Eligibility for the programs is based on state income standards with an emphasis placed on providing assistance to the elderly and people with disabilities, Watson said.

To inquire about the grant program, call the Department of Insurance’s consumer line, (800) 927-4357.

To inquire about the loan program, call Bank of America’s Community Development Center, (800) 233-8490.