Flooding of Mason City in 2008 (WHO) |
The Federal Emergency Management Agency has given preliminary approval to a flood buyout application that includes 61 properties in Mason City damaged in last year's floods.
The application has been approved by FEMA's Iowa office and now goes to the agency's office in Kansas City. If those officials sign off, the application will go to Washington for final approval. Another application for 77 properties is being reviewed at the Iowa office.
Under the buyout process, Mason City will buy properties for 120 percent of their pre-flood value, then be partially reimbursed by the state and federal governments. The city then arranges to have the homes demolished or removed.
Property owners can appeal the city's purchase offers.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The application has been approved by FEMA's Iowa office and now goes to the agency's office in Kansas City. If those officials sign off, the application will go to Washington for final approval. Another application for 77 properties is being reviewed at the Iowa office.
Under the buyout process, Mason City will buy properties for 120 percent of their pre-flood value, then be partially reimbursed by the state and federal governments. The city then arranges to have the homes demolished or removed.
Property owners can appeal the city's purchase offers.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
