The city of Cedar Rapids will get millions of additional dollars early next year in a third round of funding to replace some of the affordable housing lost after the flood of 2008. The city had a lack of affordable homes and rentals before the flood hit, with a survey showing the city needed some 900 affordable homes. Mayor Ron Corbett says this program will put homes where they’re needed most.
“If you have a chance to drive around Cedar Rapids and certainly the flood-affected areas, you’ll see a lot of homes that have been torn down and demolished. So a lot of vacant lots,” Corbett says, “so we have the opportunity to really take this new round three and actually put it right towards those vacant lots and really start to see the neighborhoods come back.”
The announcement of this third round of funding took place on the front lawn of one of those residents, Jennifer Trenary, who just moved into her new house on Friday. She says the money is a big help. “It’s just coming up with the down payment money. Because you have to have so much percentage of the mortgage, and people just don’t have that kind of money laying around right now, with the economy the way that it is. So this gives you that step, and our lease isn’t going to be up anytime soon and we’re not going to have to pick up and move again, so it’s definitely nice knowing that this is where we’re staying,” Trenary says.
The combination of federal and state funding for flood recovery will provide the eleven million dollars over two years, starting in January.