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HUD Disaster Funding for Iowa Tips Scale at $281 Million01-08-09 | News

HUD Disaster Funding for Iowa Tips Scale at $281 Million

The HUD dollars will include housing buyouts in flood-prone areas in Iowa, like here in Iowa City during the summer flooding of 2008.

With all the talk about bailouts to various financial entities, you probably don?EUR??,,????'?????<

On Dec. 19, 2008, with the end of the year in sight (you can see the new year from Alaska), U.S. Housing and Urban Development (HUD) added $72 million to Iowa?EUR??,,????'?????<

At this writing, HUD reports it will do a year-end review of the additional needs of other states for long-term recovery needs from 2008 disasters. HUD expects that bill will be an additional $4 billion.

In Iowa, the fed dollars will go to:

Housing repair/rehabilitation, homebuyer assistance and interim mortgage assistance.
Housing buyouts (in flood-prone areas).
Support developers of new affordable rental and owner-occupied housing in disaster-declared counties. This assistance may also be used for streets, sewer and water extensions linked to development of replacement housing.
Small business stimulus loans up to $50,000.
Public infrastructure projects that may include repairing damaged water and sewer systems, storm drainage, levees, roads and bridges.