Flood Aid to Iowa Passes $4B Mark

May 11, 2010

State and federal funds allocated to help Iowa recover from the worst natural disaster in its history has topped $4 billion.

According to the Rebuild Iowa Office, more than $3.1 billion of Iowa’s $4 billion in disaster funds have been approved for use and more than $1.2 billion has been spent.

Rebuild Iowa officials say many disaster assistance programs operate on a reimbursement basis. The method results in a gap between “spent” and “approved” funds. As projects move toward completion, money is reimbursed.

Rebuild Iowa points out that the buyout of disaster-impacted homes has just gotten underway. Officials say once the buyout process is complete, the state will then see a large increase of funds in the “spent” column.

The just-completed Iowa legislative session saw lawmakers approve nearly $65 million in recovery funds for state and community recovery programs.

Information from: Globe Gazette, http://www.globegazette.com/

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