Gov. J.B. Pritzker on Tuesday announced a disaster declaration for the Austin apartment building that collapsed after an explosion rocked the structure in September, killing one man and injuring seven others.
The disaster declaration, approved by the U.S. Small Business Administration, will allow residents, condo homeowners and businesses to apply for low-interest loans for damages not covered by insurance.
SBA staff will be at Austin Town Hall Park, 5610 W. Lake St., starting at 11 a.m. Thursday to help residents with their applications.
The Disaster Loan Outreach Center will be open weekdays from 9 a.m. to 6 p.m. and Saturdays from 10 a.m. to 6 p.m. On Monday, Oct. 10, the Disaster Loan Outreach Center will be open from 10 a.m. to 5 p.m. The center closes permanently at 4 p.m. Oct. 20.
About three-fourths of the windows in the building were shattered the morning of the explosion, which sent people running in every direction, some screaming they had loved ones inside.
Victims “deserve all of our available resources to heal and rebuild,” Pritzker said in a news release. “Thanks to the leadership of IEMA Director Alicia Tate-Nadeau and the Small Business Administration, families and residents can apply for low-interest loans for damages that are not covered by insurance — one of the many ways that we are providing financial relief during this time of tragedy and uncertainty.”
Homeowners can apply for up to $200,000 in low-interest loans to repair or replace damaged or destroyed real estate. Homeowners or renters can apply for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and not-for-profits can borrow up to $2 million for physical damages.
Details on loans are available at disasterloanassistance.sba.gov/ela/s/.
