(URBANDALE) — A state plan to revitalize Iowa’s housing and businesses damaged during this year’s storms and flooding has taken another step forward with the announcement of specific funding amounts for the hard-hit areas. Plans for the $40 million Jumpstart Iowa Recovery Initiative were also unanimously endorsed last week by the Iowa Department of Economic Development Board, the Iowa Finance Authority Board and the Iowa Power Fund Board.
“As Governor, I will stop at nothing to help rebuild this state, and through the new Jumpstart program, we are doing just that," said Governor Chet Culver. "These dollars will help us address the most immediate needs of Iowans following the natural disasters that hit our state. This is only the beginning, and I look forward to working with all Iowans as, together, we rebuild a stronger, safer and brighter future for our state."
Governor Culver created the Jumpstart Iowa Initiative to provide quick relief to Iowans affected by this year’s storms. The program is designed to bridge the gap until U.S. Department of Housing and Urban Development approves Iowa’s Action Plan for the $85 million in Community Development Block Grant funds, which Congress passed in June. Iowa submitted its final action plan on Friday, following HUD’s announcement of available funds on Sept. 11 and the required seven-day comment period.
Funds for the forgivable loans made available for the two separate programs — Jumpstart Iowa Homeowner Assistance Program and Jumpstart Iowa Small Business Assistance Program — will be dispersed through the following Councils of Governments (COGs) and cities:
East Central Iowa COG
Benton, Johnson, Jones, Linn and Washington
Allocation of Jumpstart Small Business Dollars
$1,949,452
Allocation of Jumpstart Housing Dollars
$1,575,277
On Sept. 12, Governor Culver announced the creation of the new Jumpstart Iowa Initiative, a $40 million housing and small business assistance program designed to help move Iowa’s recovery efforts forward. Last week, Governor Culver and Lt. Governor Patty Judge met with Iowans around the state to discuss the two new programs, and secured the approval for the programs through three state boards.
Applications for both the Jumpstart Iowa Housing and Jumpstart Iowa Small Business Assistance programs will be available in the coming days, along with details of the programs' guidelines and procedures. They can be obtained from the above mentioned councils of governments and entitlement cities, or from the Rebuild Iowa Office Web site at www.rio.iowa.gov.