Iowa City flood recovery applications available - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa City flood recovery applications available

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IOWA CITY (KWWL) -- Applications for Jumpstart Iowa will be available for Iowa City residents beginning this week. More than $1.8 million dollars in funds will be available for homeowners to make a down payment on a new home, repair their current home, or maintain morgages during a potential FEMA buyout.

Here is the news release sent out by the city of Iowa City:

The City of Iowa City will have applications available beginning Tuesday, October 7, 2008 for homeowners to apply for Jumpstart Iowa/CDBG Flood Recovery Funding. Applications will be available at the Flood Recovery Center located in the Lobby of City Hall, 410 E. Washington Street, or at the web site: www.icgov.org/recovery. If a person is not able to access the internet or is not able to travel to City Hall, they may call 319-356-5479 to arrange for local delivery of applications.

Applications for Jumpstart Iowa funds are due by 5:00 p.m., October 14, 2008. Applications for CDBG funds will be accepted until the funds are depleted. One form is used for both types of funding.

City staff will be available in the City Hall Flood Recovery Center to assist with filling out the applications for Jumpstart Iowa/CDBG funding from 8 a.m. to 6 p.m. regular business days beginning Tuesday, October 7 through Tuesday, October 14. Staff will also be available at the City Hall Flood Recovery Center on Saturday, October 11 from 10:00 am to 2:00 pm. Questions regarding the application process or other flood recovery issues can be directed to the Flood Recovery Hotline at 319-356-5479, or by e-mail at recovery@iowa-city.org.

To be eligible for this funding, flood-impacted residents must have already registered for FEMA assistance by calling 1-800-621-FEMA (3362) or go to www.fema.gov to register.

The Jumpstart Iowa Homeowner Assistance Program will help homeowners either make a down payment on a new house, repair their current home, or maintain their mortgages while waiting for a potential buyout from FEMA. Iowa City has been allocated $686,197 in Jumpstart Iowa Housing Assistance funds and $1.2 million in HUD Supplemental CDBG funds to distribute to flood-impacted homeowners. The Jumpstart funds do not have any income restrictions for those requesting assistance; however, the CDBG funds must be allocated to households with incomes less than the median income for Iowa City. (e.g. household of four earning less than $72,600 annually).

Funding will not be awarded on a first-come, first-served basis. Rather, funding awards and levels of assistance will be determined by priorities and project eligibility requirements as established by the City Council at its meeting on October 6, 2008. Applicants will be notified of funding decisions after October 17, 2008. Flood recovery funds are available for the following specific needs:

1. Down payment assistance (available to homeowners, whether their homes are on the buyout list or not). Individuals whose homes were destroyed or damaged beyond reasonable repair may be offered downpayment assistance of up to $50,000 plus up to $10,000 for the full cost of installation of energy-efficient furnaces and boilers, appliances, air conditioners, hot water heaters, windows, and insulation. Downpayment assistance will be reduced by the amount of any disaster compensation in excess of any amount necessary to pay off a mortgage on the disaster-affected home. The loan will be forgiven if the homeowner stays in the home for ten years.

2. Housing rehabilitation, can include Energy Efficiency Assistance (for homes not on the buyout list).
Individuals whose homes are not slated for buyouts may receive assistance to make repairs of up to $50,000 plus up to $10,000 for purchasing energy efficiency equipment. The estimated cost of repairs shall be reduced by the amount of any disaster compensation received. The loan will be forgiven if the homeowner stays in the home for ten years.

3. Interim mortgage assistance (available only to those whose homes are on the buyout list).
Individuals in an area submitted to the State for possible buyout of their damaged homes are eligible for assistance of up to $1,000 a month to maintain mortgages for a period not to exceed 12 months.

The final Hazard Mitigation Grant Program (HMGP) buyout list will be determined by the City Council at its October 6, 2008 meeting. Check for updates at www.icgov.org/recovery, or call the Flood Recovery Hotline at 319-356-5479 for the final list.

Information regarding Jumpstart Iowa Small Business Assistance application procedures for Iowa City business owners will be included in a separate media release and also will be posted on www.icgov.org/recovery.

Flood Recovery Contact & Assistance Information:

Flood Recovery Center: Lobby, City Hall, 410 E. Washington Street; Staffed 8 a.m. to 6 p.m, regular business days beginning Tuesday, October 7 continuing through Tuesday, October 14. Staff will also be available on Saturday, October 11 from 10:00 am to 2:00 pm.

Flood Recovery Hotline: 319-356-5479 (answered normal business days/hours until further notice)
Email: recovery@iowa-city.org
Website: www.icgov.org/recovery

Online Producer: Nick Jellings

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