17 More Iowa Homeowners Accept Flood Damage Buyouts

More Cedar Rapids homeowners are accepting buyout offers for their flood-damaged properties.

Officials say 17 more homeowners have signed offers to have the city buy their properties, which were heavily damaged in the flood of 2008. That brings to 45 the number who have done so among a first group of 117 homeowners most at risk of flooding again.

The Federal Emergency Management Agency is helping to purchase the houses to create a greenbelt along the Cedar River.

FEMA will pay 90 percent of the purchase cost and the state will pay 10 percent.

The process, when completed, could result in as many as 1,200 buyouts.

City spokeswoman Rita Rasmussen said Cedar Rapids anticipates the first closings on the purchases to take place in late January.

Latest Comments

• December 29, 2009 at 9:19 am

  D L Roth says:

  Why is it that people cannot politely point out the errors of others? Why must they be rude and try to riducule? Does that make them feel special? Han Valen does state "I r... read more
• December 28, 2009 at 4:41 am

  Baxtor says:

  Except the only difference is the government should pay 10% of the property's worth and no one else the 90%. They do live in a flood plain, but of course they are all allowed... read more
• December 28, 2009 at 3:33 am

  Han Valen says:

  In the future, try to read for comprehension: "The Federal Emergency Management Agency is helping to purchase the houses to create a greenbelt along the Cedar River." I realiz... read more