Disaster funds for Iowa more than $3.8 billion
DES MOINES, Iowa (AP) - 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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