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Loans will aid those soaked by storm

The Small Business Administration declares a disaster area because of flooding and heavy rains on Feb. 3.

By LORRI HELFAND nd LEONORA LaPETER
Published March 13, 2006

LARGO - Julio Pagan and Doris Luciano are still cleaning up from the Feb. 3 storm that left about 6 inches of water in their home at Mariner's Cove Mobile Home Park.

There are soft spots in the floor and holes in the roof where their ceilings became waterlogged and caved in. Their carpets were ruined in two bedrooms and they had to replace the fridge.

The cleanup work seems to go on and on.

But help may be on the way for the couple and others whose homes and businesses were damaged by severe storms and flooding early last month.

The U.S. Small Business Administration has declared Pinellas, Hillsborough and Pasco counties a disaster area from the flooding and heavy rains of Feb. 3.

The declaration makes loans available for homeowners, renters and business owners who suffered property damage and economic loss because of the storms.

Julio Pagan said he might want to take advantage of the SBA loans to fix his mobile home further.

"I'd like to finish up what I've started," Pagan, 57, said.

Starting today at Mariner's Cove, the SBA, a government agency that assists businesses and helps families and businesses recover from national disasters, will open three loan assistance locations to offer help with the loan application process.

"The process is not that lengthy," said Michael Lampton, communications manager at the SBA's disaster field operations center in Atlanta. "That's why we encourage people to go by the center. We have loan and customer service officers on hand and they can answer whatever questions people have."

Visits have not been scheduled in Hillsborough and Pasco, but Lampton said the agency would arrange visits to other areas if there are enough requests to do so.

Applications can also be obtained by calling the SBA's disaster assistance customer service center.

The storm, which caused about $3.18-million in damage in Pinellas, led to problems in St. Petersburg and the Largo and Lealman areas.

At least a dozen of the more than 90 homes at Mariner's Cove sustained some level of damage. The county condemned a few of them, and some residents had to find other accommodations. Those who stayed behind have spent the past month repairing roofs and floors and damaged cars.

The Feb. 3 storm also caused the collapse of the roof at the Bed Bath & Beyond store near Tyrone Square Mall. The roof, which was less then a year old, had 4 inches of standing rain on it when it failed. Its collapse is still being investigated, said David Rubin, vice president of property management for Cambridge Management, which oversees the Crosswinds Center shopping complex.

The Federal Emergency Management Agency, which is typically involved in larger storm events, did not make a declaration of disaster. The SBA's declaration was based on the fact that at least 25 homes or businesses in the area had uninsured losses of 40 percent of their value, Lampton said.

The SBA offers loans up to:

$40,000 for renters and homeowners who need to repair or replace personal property such as furniture and clothing.

$200,000 for homeowners who need to repair homes.

$1.5-million for business owners who suffered losses not covered by insurance.

$1.5-million for business owners whose businesses were affected financially by the flood even if they suffered no property damage.

Interest rates start at 2.875 percent for renters and homeowners and 4 percent for businesses. The application deadline for physical damage is May 8. The deadline for economic loss to businesses is Dec. 11.

[Last modified March 13, 2006, 21:03:02]