Show Civil Defense Notes The Federal Housing Administration Administration Administration Ad Ad- Ad- Ad ministration issued the following following following follow follow- ing release on August 1 1961 concerning loans for fallout shelters Commissioner Neal J. J Hardy has ruled that fallout shelters will be an eligible item for insured loans under the agency's new rehabilitation tion lion program The uThe rehabilitation loans in included included in- in Act the 1961 Housing eluded in on provide for insurance loans up to with maximum maximum maxi maximum maxi maxi- and mum terms of 20 years maximum interest rate of 6 t of rehabilitation per cent for individual homes Inside urban renewal areas the minimum amount of the J loans has been set at 1000 and in m other areas the minimum mini minimum mini mini- mum is 2500 The loans are areto areto to be used to improve the basic livability of dwelling units The shelters could be part overall rehabilitation of ofa of the a home or could qualify as a ab b bas basic a s i c improvement They could serve in a dual role as laundry rooms dark rooms studies etc but will have to conform to standards of theOffice the ther Office of Civil Defense Mobilization Mob fob and the FH who would make the inspections of construction Fallout shelters have been for some time authorized under under under un un- der the Title I property im improvement improvement improvement im- im provement program of That program provides for maximum insurance of with a maximum term of five years Under that program there were shelters re reported reported re- re ported built in the United t. t States the majority of them located in the midwest and plains states where they have doubled as tornado shelters also makes possible insured mortgage financing for homes built with fallout shelters This assistance is based on the belief that popular popular popular lar demand for home shelters will make it appropriate to re reflect reflect re- re fleet all or a reasonable part of their cost in tion This will make financing fi financing financing fi- fi generally available for shelter construction in new homes The Federal Housing Administration in keeping with a long standing long st ding A policy does not endorse ap approve approve approve ap- ap prove or recommend any particular particular par par- type of shelter i. i |