CR approves buyout plan for flooded properties
December 11, 2008
CEDAR RAPIDS (AP) — The Cedar Rapids City Council is moving ahead with plans to buy flood-damaged property in a proposed “greenway” that will be created as part of a new levee and flood wall system.
The council on Wednesday approved a buyout approach involving 192 property owners. The properties have a pre-flood assessed value of $19 million.
The city is also considering a second area of possible buyouts in what officials have labeled a “construction zone” beyond the greenway. There are 554 properties in this area, with a pre-flood assessment of $48 million.
The city is putting the owners on notice that their homes may be bought out in the future. Officials say the area may be needed for levee building and other tasks, such as moving street and sewers.