Disaster Funds For Iowa Top 3.8 Billion

By: Associated Press Email
By: Associated Press Email

The Rebuild Iowa Office reports that disaster recovery funds promised to Iowa for use in state, community, business and individual recovery programs for the 2008 floods and tornadoes now exceed $3.8 billion.

The office said Monday that more than $3 billion of those funds
have been approved for use so far, and more than $1.1 billion has
already been spent in Iowa.

Rebuild Iowa explains that many disaster assistance programs
operate on a reimbursement basis. This method results in a gap
between "spent" and "approved" funds.

In addition, buyouts of disaster-impacted homes have just started to occur in Iowa. Once the buyout process is completed, the state will see another increase of funds in the "spent" column.

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