FEMA Program Will Acquire 39 Flood-Damaged Homes
Washington, DC – May 12, 2009 – (RealEstateRama) — Congressman Loebsack announces $8.6 million in FEMA funds from the Hazard Mitigation Program for Iowa City. These funds will be used to help Iowa City acquire 39 homes and one vacant lot affected by last year’s flood. This acquisition will protect the community from future damages while reducing emergency response and evacuation costs. The properties, which include 39 homes and one vacant lot, are located on Taft Speedway, Park Road, Normandy Drive, and Eastmoor Drive in the Parkview Terrace neighborhood.
“It is unfortunate that this funding is necessary, but as Iowa is still struggling to rebuild, these funds come at a time when our families could use some help,” said Congressman Loebsack. “This funding marks an important point in our recovery process – families who have been at a standstill will finally be able to move forward. Additionally, these funds will aid our planning efforts by protecting our communities from future disasters.”
FEMA’s Hazard Mitigation Program is designed to help reduce the impact of future disasters. By acquiring properties that have been severely damaged, this program aids families struggling from the floods of last summer and works towards protecting property in the future. These acquisitions of housing properties are voluntary. The decision to buy damaged property is made by the local government and the property owners.
