The city council in Mason City is moving forward in finalizing the buy-out of flood damaged properties. The council this week approved submitting 62 of 66 hazard mitigation applications as part of a flood buyout program. The city is trying to get the hazard mitigation grants for acquiring and demolishing the properties, which will not be built on again.
The total cost of the project is $6.5 million with the city having to pay a 15% local match, or about $975,000. City officials have been told by the Iowa Department of Economic Development that they’ll make Community Development Block Grant funds available to the city to cover the local match for the projects.
The council will hold a special session next Tuesday to act on another buyout application that would include at least 70 more properties that were impacted after the Winnebago River rose almost 12 feet above flood stage in early June.