Iowa governor announces funds for flood buyouts

AP News
Posted: Nov 06, 2009 1:54 PM

Iowa Gov. Chet Culver says $150 million in federal funds will be made available for the purchase of 1,352 homes damaged in last year's floods.

The funding is part of the $516.7 million in Community Development Block Grant Disaster Recovery Funds announced last month. The funding Culver announced Friday is the first round of awards made to 20 cities and counties to cover homes not eligible for Federal Emergency Management Agency buyouts.

According to Culver, 852 homes to be bought out are located in Cedar Rapids.

In addition to Cedar Rapids homes eligible for the funds are located in the Oakville area, Cedar Falls, Mason City, Iowa City and Waverly, among other cities.

The first round covers homes in the 100-year flood plain, poses a health and safety concern to the community, or have been determined to be substantially damaged.