Oklahoma’s New Grant Program: Strengthening Homes with OKReady
Oklahoma is taking a significant step towards enhancing home safety and resilience with the launch of the OKReady program, part of the Strengthen Oklahoma Homes (SOH) initiative. Announced by Insurance Commissioner Glen Mulready, this program is set to commence on November 1, 2024, with a pilot launch for grant applications scheduled for March 3, 2025. This initiative aims to provide financial support to homeowners, helping them fortify their residences against severe weather events.
What is OKReady?
OKReady is designed to allocate up to $10,000 in grant funds to eligible households for approved construction projects. These projects will focus on strengthening homes in accordance with the Institute for Business & Home Safety (IBHS) FORTIFIED Home – Roof™ – High Wind designation, supplemented with hail protection. Grant funds will be disbursed directly to contractors once homeowners obtain the necessary IBHS FORTIFIED Certification.
The first phase of the program will target 100 homes in specific zip codes, which will be announced next month. Over the course of 2025, OKReady aims to distribute a total of 1,000 grants, with the program planning to conduct three pilot launches to refine the application and review processes.
Eligibility Criteria for Homeowners
To qualify for the OKReady grant, homeowners must meet specific requirements:
- Primary Residence: The home must be a single-family unit that is owned and occupied by the applicant.
- Condition of the Home: Homes must be in good repair, except for damage caused by recent storms, such as tornadoes or hail.
- Homestead Exemption: Applicants must submit a PDF copy of their Homestead Exemption. If they do not have one, they can apply through their County Assessor’s office. To qualify, the property must be owned and occupied as of January 1st.
- Homeowners Insurance: Proof of an active homeowners insurance policy is required, and homes in flood zones must provide flood insurance documentation.
- Tax Return Documentation: A PDF copy of the previous year’s Tax Return Form 1040 must be submitted.
- Social Security Number: Applicants must provide their Social Security Number.
- Power of Attorney: If applicable, a PDF copy of the Power of Attorney must be submitted to the Oklahoma Insurance Department for discussions regarding the applicant’s grant details.
Income Tiers for Grant Allocation
To ensure that assistance prioritizes those in greater need, OKReady will categorize applicants based on their household income, as reported on their Tax Return Form 1040. The income tiers are as follows:
- Income Tier 1: Households earning $62,138 or less.
- Income Tier 2: Households earning above $62,138.
Applications will be processed on a first-come, first-served basis within each income tier, with a preference given to lower-income applicants and those residing in areas historically prone to severe weather.
How to Apply
Homeowners interested in applying for the OKReady grant will need to complete an electronic application and submit all required documentation. The Oklahoma Insurance Department (OID) has been diligently preparing for this rollout by establishing application processes, evaluating storm data by zip code, and training grant coordinators.
To stay updated on the latest developments regarding the OKReady program, homeowners can visit the Oklahoma Insurance Department’s official website.
Final Thoughts
The OKReady program represents a proactive approach to enhancing the resilience of Oklahoma homes against extreme weather conditions. By offering financial assistance for fortification projects, the initiative not only aims to protect homes but also to safeguard the lives and livelihoods of Oklahoma residents. As the program rolls out, it will undoubtedly play a crucial role in building a safer and more prepared community.
For further information on home fortification strategies and insurance requirements, you can explore resources from the Institute for Business & Home Safety.