MDA MAILS LETTERS FOR SOLD HOMES

Jackson, Miss., (November 13, 2007) – Today, the Mississippi Development Authority (MDA) mailed roughly 180 letters to Mississippi Gulf Coast homeowners who may be eligible for the
most recent modification to the Homeowner Assistance Program.

This modification to the program allows sold home applicants to qualify for the grant program independent of the cooperation of new owner(s) of their Katrina-damaged residence.

“With each phase of the Homeowner Assistance Program, MDA is trying to reach out to more homeowners to provide support,” said Donna Sanford, MDA’s Disaster Recovery Director.

“This latest modification will offer relief for applicants who no longer own their Katrina-damaged homes and have been unable to gain cooperation from the new homeowners regarding the placement of covenants.”

These homeowners were intended recipients of the program as they were included in the MDA’s estimate of 30,000 surge-damaged homes. Due to the impact and hardship after the storm, many of these homeowners either voluntarily or involuntarily sold their homes as part of their post-storm recovery plan. Previously, the program required a signed covenant from the current homeowner.

The modification will offer sold-home applicants either 50% or 70% of their eligible grant award based on meeting certain eligibility requirements, which are outlined at www.mississippi.org.

About Mississippi Development Authority Mississippi Development Authority is the State of Mississippi’s lead economic and community development agency. Nearly 300 employees are engaged in providing services to businesses, communities and workers in the state.

While the agency is best known for its efforts to recruit new businesses to Mississippi, the Authority provides services to promote tourism, help communities improve their quality of place, help existing employers identify and meet
opportunities and challenges and help workers improve their skills – all with the goal of improving the quality of life and economic well-being of Mississippians. For more information,
visit MDA’s website at www.mississippi.org.

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