93 Homes Purchased as Iowa City Flood Buyout Draws to Close

From City of Iowa City news release:

UPDATE ON FLOOD BUYOUT PROPERTIES

The property buyouts that have been taking place in neighborhoods as a flood mitigation effort are now drawing to a close. The last property to be acquired through the program — homes were purchased by the City only if the homeowner wanted to participate — was completed in July.

A total of 93 homes were purchased through the program, which provided funds to remove residential properties from the floodplain. Demolition of the homes will be completed this fall, and the areas where the homes once stood will be returned to green space. The buyouts have been taking place since May 2009.

Read more on the story from the Iowa City Press-Citizen and The Gazette.

The City of Iowa City received disaster recovery grants to purchase the properties. The two main funding sources were the Hazard Mitigation Grant (HMGP) Acquisition Program, which allowed the City to acquire 35 homes, and the Community Development Block Grant (CDBG) Buyout Program, which was used to buy 52 properties. Six other homes were purchased with Community Disaster Grant (CDG) funds. To date, 82 of the structures have been demolished.

Iowa City has spent approximately $21 million on acquisition, demolition, and relocation expenses for property owners who participated. By the time the programs close out next year, the City expects the total amount to be approximately $22 million.

Once the structures are demolished and cleared, the land will become deed-restricted for use as public green space, which will be maintained by the City's Parks Department. A comprehensive landscape plan has been developed with the help of the neighborhood, which will create a trail along Normandy Drive and build a natural playground on the property adjacent to City Park. The park will also feature the historic Ned Ashton House, which will be used as a special events facility that the City will rent out for weddings and meetings.