Iowa City Flood-Damaged Property Buyouts Top 1,000

June 14, 2011

The city of Cedar Rapids has purchased over 1,000 properties that were damaged during the flooding of 2008.

The city announced Monday that it had acquired 1,001 flood-damaged properties through the Voluntary Property Acquisition Program. After the 2008 floods, the city identified 1,300 homes and businesses that were eligible for the buyout program.

The city says more than 320 additional properties are working their way through the program.

So far, more than $60 million has been distributed for the program from FEMA, the U.S. Department of Housing and Urban Development and local option sales tax revenues.

Applications for the buyout program are due by June 30.

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